Pradhan Mantri Awas Yojana: Home Loan Subsidy Complete Process


What is Pradhan Mantri Awas Yojana?

The Pradhan Mantri Awas Yojana aims to provide affordable housing to the weaker and poorer sections of our Indian society. These generally involve individuals with lower income, poor rural and urban citizens. The Pradhan Mantri Awas Yojana involves the construction of a targeted 20 million houses by March 31, 2022.

The Central Government has aided the scheme with a funding of around 31 billion USD. The Pradhan Mantri Awas Yojana has two components:

  1. Pradhan Mantri Awas Yojana Gramin and
  2. Pradhan Mantri Awas Yojana Urban


To avail all of the Pradhan Mantri Awas Yojana benefits, you need to apply as an individual who is unmarried. You can also apply as a representative of a family which includes your unmarried children, parents or spouses. Apart from the basic eligibility, you also need to abide by the income criteria and other eligibility norms to be able to claim the maximum of subsidies on your home loans. The instructions are described below.

  • You or your family cannot avail this scheme if you have already availed any other scheme from the government before.
  • You or your family must not be an owner of a Pucca house at present. If you are a homeowner already, you declare yourself unfit to avail the scheme for your home loans.
  • Possession of an Aadhaar Card is a must for availing the Pradhan Mantri Awas Yojana.

Check Your Claim Amount

You can claim a subsidy of up to ₹ 2.67 lakhs to avail home loans under the Pradhan Mantri Awas Yojana. The percentage of subsidy which you can claim depends upon the income category you fall under and the total carpet area of the house you want to buy.

  • EWS or LIG Category – This category enables you to claim a subsidy of 6.5% on your home loans up to ₹ 6 lakh. Your home’s carpet area should be 30 under the EWS category and 60 under the LIG category.
  • MIG I category – This category enables you to claim a subsidy of 4% on a home loan of up to ₹ 9 lakh. The subsidy is only eligible if you buy a house with a carpet area of 160
  • MIG II category – individuals under the MIG II category can claim a credit-linked subsidy of 3% on their home loans. This amount should not exceed 12 lakhs. You can claim this subsidy with a home area of 200


The enrollment procedure is laid down below.

  1. Log in to Pradhan Mantri Awas Yojana official website at
  2. Under the citizenship assessment drop-down menu, select the “Benefits under 3 components” option.
  3. Now enter your Aadhaar details to proceed with the enrollment.
  4. After filling in the Aadhaar details, the control will redirect you to the application form stage where you need to fill all details accurately.
  5. After this is done, you need to click on save and type in the displayed captcha code.
  6. Now click on save again. The application is now complete and you can take out the required printout.

How to Claim Your Subsidy?

After the enrollment for the Pradhan Mantri Awas Yojana is complete, you can apply for home loans with the lender of your choice.  Just be sure that your lender offers home loans under the PMAY scheme before proceeding.

After this, you need to compare all available lenders and find out the lowest rates of interest on home loans offered by them. Once your application gets approved, your lender will transfer your loan amount to your bank account.  The lender will then claim the subsidy on your behalf from the government. After the lender receives the subsidy, they will credit it in your home loan account and your EMI’s will also decrease accordingly.

For an exclusive experience on everything related to loans, login now to and claim your PMAY subsidy today. You can get loans for salaried individuals as well as home loans for self-employed citizens at affordable rates of interests.

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