The Pradhan Mantri Awas Yojana (PMAY) is an initiative of the Government of India which aims at providing affordable housing to the urban poor by the year 2023/2024.

The scheme was first launched on 25 June 2015. The interest rate for the PMAY scheme starts at 6.50% p.a. and can be availed for a tenure of up to 20 years. 

The implementation period of the PMAY(U) Urban scheme has been extended until 31 December 2024. The decision was made by the Union Cabinet after requests from Union Territories and states. Earlier, the aim was to provide houses by March 2022.  

Official Website
Launch Date25th June 2015
Expected CompletionBy 31 December 2024
Toll Free Number1800-11-6163 – HUDCO 1800 11 3377, 1800 11 3388 – NHB
Complaints or
Office AddressPradhan Mantri Awas Yojana Ministry of Housing and Urban Affairs Nirman Bhawan, New Delhi- 110 011 Contact: 011 2306 3285, 011 2306 0484 Email:
PMAY GuidelinesClick to Download Manual

Features & Benefits of PMAY Scheme

  • Under the PMAY Scheme, a subsidy interest rate is provided at 6.50% p.a. on housing loan for the term of 20 years to all the beneficiaries.
  • Differently abled and senior citizens will be given preference in allocation of ground floors.
  • Sustainable and eco-friendly technologies would be used for construction.
  • The scheme covers entire urban areas in the country which includes 4041 statutory towns with the first priority given to 500 Class I cities. This will be done in 3 phases.
  • The credit linked subsidy aspect of the PM Awas Yojana gets implemented in India in all statutory towns from the initial stages itself.

Pradhan Mantri Awas Yojana (PMAY) Beneficiaries

The beneficiaries under the PMAY scheme can be listed as follows:

BeneficiaryAnnual Income
Middle Income Group I (MIG I)Rs.6 lakh to Rs.12 lakh
Middle Income Group I (MIG IIRs.12 lakh to Rs.18 lakh
Lower Income Group (LIG)Rs.3 lakh to Rs.6 lakh
Economically Weaker Section (EWS)Up to Rs.3 lakh

In addition to these, people belonging to SC, ST, and OBC categories and women belonging to EWS and LIG income groups will also be eligible for the PMAY scheme.

Identification and Selection of Beneficiaries under PMAY

The Pradhan Mantri Awas Yojana (PMAY-Urban) – Urban schemes primarily target the housing needs of urban poor. Apart from this, the scheme also addresses the housing needs of slum residents living in narrow pockets of slums where infrastructure, sanitation and drinking water are poor.

Beneficiaries of PMAY-U mainly include Middle Income Groups (MIGs), Low-income Groups (LIGs) and Economically Weaker Section (EWS).

While the beneficiaries from the EWS category are eligible for complete assistance under the scheme, beneficiaries from LIG and LIG categories are only eligible for the Credit Linked Subsidy Scheme (CLSS) under PMAY.

In order to be recognised as a LIG or EWS beneficiary under the Scheme, the applicant is required to submit an affidavit as income proof to the authority.

Key Highlights of PMAY Scheme

Eligible Housing Loan Amountfor Interest SubsidyUp to Rs.6 lakhUp to Rs.6 lakh
Maximum Loan Tenure20 years20 years
Discounted Rate for Calculationof Net Present Value of InterestSubsidy9.00%9.00%
Dwelling Unit Carpet Area(sq.m.)Up to 30 sq.m.Up to 60 sq.m.
Duration of Scheme17 June 2015 to 31 December 202417 June 2015 to 31 December 2024
Applicability of No Pucca HouseNot for upgradation or renovation
Woman Ownership/Co-ownershipNot required for an existing property. Compulsory for a new acquisition.
Amount Paid in Lump Paymentfor Each Sanctioned HousingLoan applicationRs.3,000Rs.3,000
Quality of Flat/HouseConstructionBIS Codes, National Building Code, and according to the NDMA Guidelines adopted
Approvals for the BuildingDesignMandatoryMandatory
Basic Civic Infrastructure (water,electricity, sanitation, sewerage,road etc.)MandatoryMandatory
Maximum Interest SubsidyAmountRs.2,67,280Rs.2,67,280

Key Parameters of PMAY

ParticularsMIG IMIG II
Eligible Housing Loan Amountfor Interest SubsidyUp to Rs.9 lakhUp to Rs.12 lakh
Maximum Loan Tenure20 years20 years
Dwelling Unit Carpet Area(sq.m.)160 sq.m.200 sq.m
Maximum Interest Subsidy AmountRs.2,35,068Rs.2,30,156
Lump Sum Amount Paid forEach Sanctioned Housing LoanApplication Instead ofprocessing feeRs.2,000Rs.2,000
Discounted Rate for Calculationof Net Present Value of InterestSubsidy9.00%9.00%
Duration of Scheme1 January 2017 to 31 December 20241 January 2017 to 31 December 2024
Woman Ownership/Co-ownershipNot compulsoryNot compulsory
Applicability of No Pucca HouseYesYes
Approvals for the BuildingDesignMandatoryMandatory
Quality of House/FlatConstructionBIS Codes, National Building Code, and according to the NDMA Guidelines adopted
Basic Civic Infrastructure (water,road, sanitation, sewerage,electricity etc.)MandatoryMandatory
Income Proof to Claim SubsidySelf-DeclarationSelf-Declaration
Identity ProofAadhaar Card NumberAadhaar Card Number

Type of PMAY Scheme

There are two sub-sections of the PMAY scheme which are divided on the basis of the area on which they focus:

Pradhan Mantri Awas Yojana Gramin – The Pradhan Mantri Awas Yojana – Gramin (PMAY-G) was previously known as the Indira Awas Yojana and was christened as PMAY-G in 2016. The scheme is aimed at the provision of affordable and accessible housing units to eligible beneficiaries in rural regions of India (excluding Chandigarh and Delhi).

Under this scheme, the Government of India and the respective state governments share the cost of development of housing units in the ratio of 60:40 for plain regions and 90:10 for North-Eastern and hilly regions.

Pradhan Mantri Awas Yojana Urban – The Pradhan Mantri Awas Yojana – Urban (PMAYU), as the name suggests, is focussed towards the urban areas in India. At present, there 4,331 towns and cities which are enlisted under this scheme. The scheme is set to function under three different phases:

Phase 1: Under Phase 1, the government targeted to cover 100 cities in different states and UTs across the country from April 2015 to March 2017.

Phase 2: Under Phase 2, the government targeted to cover 200 more cities in different states and UTs across the country from April 2017 to March 2019.

Phase 3: Under Phase 3, the government targeted to cover the cities which have been left out in Phase 1 and Phase 2 and attain the target by the end of December 2024.

PMAY Interest Subsidy

ParticularsInterest SubsidyMaximum Loan for Subsidy
EWS6.50% p.a.Rs.6 lakh
LIG6.50% p.a.Rs.6 lakh
MIG -14.00% p.a.Rs.9 lakh
MIG-23.00% p.a.Rs.12 lakh

Pradhan Mantri Awas Yojana (PMAY) Subsidy Calculator

Pradhan Mantri Awas Yojana (PMAY) scheme aims to simplify the process of purchasing a home for the urban poor and weaker sections of society through EMIs at reasonable rates of interest. The rate of interest is comparatively much lesser than commercial rates, thus offering people subsidised loans.

To calculate the EMI, log on to the Pradhan Mantri Awas Yojana website and fill in the following details:

  • The total loan amount in rupees
  • The rate of interest
  • The total loan period in months
  • Once the following details are submitted, click on the ‘Calculate’ option. This will give you the monthly installment or EMI payable in rupees.


The payment of the PMAY subsidy is covered in phases by the Government of India. It is managed by NHB and HUDCO, which pay the subsidy interest rates for PMAY loans. 

These Government bodies smoothen the subsidy component to the listed credit firms so that the beneficiaries will gain the benefits of the PMAY subsidy. 

Claim the PMAY subsidy in the following ways:

One: After the home loan payment, the banks approach the NHB for the data validations and other approvals.

Two: So, the NHB scrutinizes and grants the approval for the deserving borrowers.

Three: After the approvals, the eligible borrowers receive the PMAY subsidy with the respective banks.

Four: The home loan subsidy amount is added to the applicant’s home loan account by the banks. This way, the applicable beneficiary receives the PMAY subsidy from NHB. 


There are set eligibility criteria to receive the Credit Linked Subsidy Scheme (CLSS). To achieve the PMAY subsidy benefits under the CLSS PMAY scheme, each individual falling into a respective category should meet the following criteria –

  1. No pucca house anywhere in India by the applicant or his family.
  2. Married applicants can either apply with a single application or co-ownership settings, like application on either one or both. In any case, only one subsidy is granted to the applicant. 
  3. The applicant or his/her family must not have benefited previously or under any similar schemes driven by the Government. 


In the wake of providing housing for all, the Government has come up with the PMAY scheme. Further, in order to provide subsidized home loans for the urban poor to purchase homes, construct, and/or get repaired, the Indian Government launched CLSS under PMAY.

LIG, MIG, and EWS applicants under PMAY CLSS will be eligible to receive a 6.5% subsidy for 20 years or a total loan period. The home loan interest subsidy covers up to six lakh rupees. The home loan amount beyond 6 lakh rupees will be given at non-subsidized rates. 

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