Last year when I was trying to avail a home loan, a friend of mine suggested that I go for the Pradhan Mantri Awas Yojana home loan. He informed me that this scheme has been introduced by the Government of India to help the needful. Following this, I asked him about the Pradhan Mantri Awas Yojana home loan eligibility. Here is what he told me.
What is the Home Loan Subsidy Eligibility?
He told me that there are a few conditions that I need to meet for the PM subsidy home loan eligibility.
I shouldn’t own a pucca house in my name or anyone in my family.
I shouldn't have availed central assistance under any housing scheme for Govt. of India/ State Govt.
I shouldn’t have availed PMAY - CLSS subsidy from any primary lending Institutions.
He also told me about the home loan subsidy scheme eligibility based on income. Here are details below.
| Economic Section | Annual Family Income | Maximum Carpet Area |
EWS |
Up to Rs. 3 Lakhs |
30 sq m |
LIG |
Rs. 3 Lakhs to Rs. 6 Lakhs |
60 sq m |
MIG I |
Rs. 6 Lakhs to Rs. 12 Lakhs |
160 sq m |
MIG II |
Rs. 12 Lakhs to Rs. 18 Lakhs |
200 sq m |
And that is all he told me about the Pradhan Mantri Awas Yojana home loan eligibility. I hope this helps.
Avail Quick Disbursal & Lowest Interest Rate Home Loans through NoBroker Read MoreHow to apply for home loan subsidy online?
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- Home loan subsidy scheme is applicable to families with a husband, wife, and unmarried children.
- The beneficiaries should not own a pucca house across the country to get subsidy on home loan by government 2022.
- If there is a married couple they can avail subsidy under joint ownership.
- Only first time applicants can avail CLSS scheme
- The families under the MIG income group need to provide Aadhaar numbers to avail the benefit of the subsidy.
Who is eligible for home loan subsidy?
Dinesh
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2022-01-03T16:39:22+00:00 2022-01-04T10:50:07+00:00Comment
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