Know the Facts about PM Awas Yojana and its Subsidy

The Pradhan Mantri Awas Yojana (PMAY) is a housing scheme of the Central Government of India. 

Under this PMAY housing scheme, there is a provision to build affordable houses all over India. They are to be constructed using eco-friendly and sustainable technologies. 

Besides this, the Pradhan Mantri Awas Yojana also offers an interest subsidy on home loans. 

Under this, it is possible to enjoy a home loan subsidy of up to Rs. 2.67 lakh and 6.5%. 

The home loan subsidy is awarded across income groups of applicants whose income ranges between Rs.3 lakh and Rs.18 lakh annually. 

If you want to know more about Pradhan Mantri Awas Yojana and its subsidy, you should go through this post!

Vital Pradhan Mantri Awas Yojana facts at a glance 

1. If you want to book your first-ever pucca home, you can avail of the home loan subsidy on the interest rate and enjoy savings. The home loan interest rate subsidy can also be availed as per your income groups. Income groups are Economically Weaker Section (EWS), Lower Income Group (LIG), and Middle Income Group 1 and 2 (MIG 1 and MIG 2). 

2. A women applicant is given priority in the allotment of ground floors. It is done while allotting the homes. Differently-abled citizens are also given preferences while allotting ground floors for homes. 

3. The home loan interest subsidy is given up to 6.5% to the tune of Rs.2.67 lakh. 

4. The usage of eco-friendly and sustainable construction materials is permitted in the construction of affordable homes. 

5. The Government seeks to construct about 2 crore affordable homes in key urban areas for eligible customers. 

6. The focus of the Government is to uplift the standard of living of people in areas where low-cost homes are being built. 

If you wish to avail the PMAY benefits and enjoy interest subsidies, you can check your eligibility and get started.