No, you generally cannot get a PMAY (Pradhan Mantri Awas Yojana) interest subsidy on a second home. The core eligibility requirement under PMAY-Urban 2.0 is that the beneficiary must not own a pucca house anywhere in their name or any family member’s name at the time of applying. If you already own a home, buying a second property usually disqualifies you from the subsidy.
PMAY Eligibility Conditions
Under PMAY-U 2.0, the Interest Subsidy Scheme (ISS) provides a credit-linked interest subsidy on home loans for eligible beneficiaries belonging to EWS (Economically Weaker Section), LIG (Lower Income Group), and MIG (Middle Income Group) categories.
The scheme targets families who are homeless or do not own a pucca dwelling unit anywhere in the country; this condition is central to eligibility.
If you already own a house, whether it’s in your name or any family member’s name, the PMAY guidelines state that such ownership makes you ineligible for the subsidy.
Even if you fall within the income limits and take a loan for a second house, PMAY will not apply because the scheme is designed to help those without housing first.
Why PMAY Is Not Allowed for a Second Home?
The goal of PMAY is "Housing for All," with an emphasis on persons who do not currently own a permanent residential home. If you already own a home, whether you live in it or rent it out, you are ineligible. As a result, a second-home purchase is not eligible for the PMAY interest subsidy.
Sometimes, an adult earning individual (even if part of a family that owns a home) may be considered a separate household if they do not themselves own any pucca house anywhere in India. In such a unique case, they may still qualify for a subsidy for their first home in their own name.
This is for a first-time home purchase, not for a second property over and above their own past ownership. I hope you understood can I get PMAY subsidy on second home.
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Can I Get PMAY Subsidy on Second Home?
priya
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2026-02-08T19:48:58+00:00 2026-02-08T19:49:00+00:00Comment
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