Use the PMAY Subsidy Calculator to instantly check your PMAY eligibility and PMAY subsidy amount under the Pradhan Mantri Awas Yojana scheme.
With our PMAY Subsidy Calculator, you can also check your reduced home loan EMI after availing of the PM Awas Yojana subsidy.
Follow these simple steps to check your PMAY eligibility & PMAY subsidy amount:
That’s it. Our Pradhan Mantri Awas Yojana eligibility calculator will instantly display whether you are eligible for the PMAY subsidy scheme. It’ll also show your home loan interest subsidy amount and the PMAY subsidy category.
If you have been looking to buy/ construct a new home or are planning to extend/ improve your existing one, check your Pradhan Mantri Awas Yojana eligibility and get a home loan interest subsidy benefits of up to Rs. 2,67,000.
PMAY Subsidy Calculator, or Pradhan Mantri Awas Yojana Subsidy Calculator, is a free online financial tool to check your PMAY eligibility and know your PM Awas Yojana subsidy amount. Our PMAY Subsidy Calculator also displays your reduced home loan EMI after availing of the PMAY home loan subsidy.
The Pradhan Mantri Awas Yojana (PMAY) Scheme is the Credit Linked Subsidy Scheme (CLSS) initiated by the Government of India in June 2015. This flagship scheme of our honorable Prime Minister, Shri Narendra Damodardas Modi, focuses on providing affordable homes to the Economically Weaker Section (EWS), low-income groups (LIG), and mid-income groups (MIG) of India by December 2024.
Under the PM Awas Yojana scheme, you can get a home loan interest subsidy from 3% to 6.5% on your borrowed home loan amount and save up to Rs. 2,67,000.
As per the Pradhan Mantri Awas Yojana guidelines, people falling under the Economically Weaker Section (EWS), Low-Income Group (LIG), and Middle-Income Groups 1 and 2 (MIG-1 and MIG-2) with annual family incomes of up to Rs. 3 lakhs to up to Rs. 18 lakhs are eligible for PMAY subsidy, provided it’s their first pucca house registered in the name of female member of the house.
The PMAY beneficiaries have been divided into these four income categories based on their annual family income.
PMAY income criteria for Pradhan Mantri Awas Yojana beneficiaries:
|
Particulars |
EWS |
LIG |
MIG-1 |
MIG-2 |
|---|---|---|---|---|
|
Annual Household income |
Up to 3 lakh |
3 to 6 lakh |
6 to 12 lakh |
12 to 18 lakh |
|
Interest rate Subsidy (per year) |
6.50% |
6.50% |
4.00% |
3.00% |
|
Eligible Housing Loan Amount to Qualify for PMAY Subsidy (Rs.) |
6 lakh |
6 lakh |
9 lakh |
12 lakh |
|
Maximum Home Loan Tenor (in years) |
20 |
20 |
20 |
20 |
|
Maximum Eligible House Carpet Area to Qualify for PMAY Subsidy |
30 Sq. M. |
60 Sq. M. |
160 Sq. M. |
200 Sq. M. |
|
PMAY Home Loan Interest Subsidy Amount (Rs.) |
2.67 lakh |
2.67 lakh |
2.35 lakh |
2.30 lakh |
Under the PM Awas Yojana scheme, you can get a PMAY subsidy of up to Rs.2,67,000, depending on your income category.
PMAY subsidy amount is calculated based on factors such as annual family income, borrowed housing loan amount, home loan interest rate, home loan tenor, house carpet area, and subsidy interest rate. As per the policy, an eligible person can get a PMAY interest subsidy ranging from 3% to 6.5%.
Planning to buy your dream home? Read the first-time home buyer's guide that will help you own the right property at the right price while saving more money. Also, plan your finances and monthly expenses better by calculating your housing loan EMI using the Home Loan EMI Calculator tool.
