What is PMAY Eligibility?

Before considering the PMAY scheme for your new home, you must know the PMAY eligibility criteria. Here's everything you should know about it.

In 2015, under the "Housing for All" mission, the government undertook a flagship goal: Pradhan Mantri Awas Yojana to increase homeownership among the eligible population. Potential homebuyers can use subsidies on home loans for building, renovating, buying or making extensions under this PMAY scheme.

To avail all the benefits of the PMAY scheme must check out the crucial PMAY eligibility criteria to meet the requirements of being a potential beneficiary. With the primary aim to ensure that 2 crore houses are built across the country's length and breadth, this Yojana was launched on June 2015.

PMAY Beneficiaries

Beneficiaries refer to those eligible individuals to avail of the benefits of the PMAY scheme. The beneficiary's family comprises a husband, wife, unmarried daughters and unmarried sons. Irrespective of their marital status, an adult earning member might be considered a separate household. Economically Weaker Section (EWS) beneficiaries receive full benefits; however, Middle Income Groups (MIG) and Lower Income Groups (LIG) beneficiaries are only eligible for CLSS under PMAY.

Eligibility Criteria for Pradhan Mantri Awas Yojana

To fulfil the PMAY eligibility criteria:

• A beneficiary must not own a pucca house in their or any family members in any part of the country.
• Central Government must not have provided any aid to the beneficiary before, or the beneficiary has not received any assistance from the Central Government under a housing scheme or any benefits given under PMAY.
• The recipient family shouldn't have received a PMAY subsidy from any primary lending institutions (PLIs).
• To avail of the benefits of Pradhan Mantri Yojana, the household income of the beneficiary must fall under one of the income groups – Economically Weaker Section (EWS), Low Income Group (LIG), Middle Income Group – I (MIG-I) and Middle Income Group – II (MIG-II)
• The beneficiaries from the MIG income group must furnish their Aadhaar numbers if they wish to avail of PMAY scheme benefits.
• Borrowers of house loans who have already received the subsidy but switched to a different lender throughout the loan tenure using the home loan balance transfer are not eligible to receive the benefit again.
• For loans under the MIG category, they must have been received on or after January 1, 2017, and for EWS/LIG category loans, they must have been received on or before June 17, 2015. However, the recipient should not have requested the subsidy from the current lender.
• Following Census 2011 and towns notified later, all Statutory Towns are eligible for coverage under the PMAY HFA mission.
• Within 36 months of the loan's first instalment date, the building or extension for which a house loan is requested must be finished.
• Beneficiaries who fall under the LIG/EWS Category must jointly own their homes with the male head of the household and his wife, or it should be in the name of the female head.
• If a beneficiary family falls within the LIG/EWS category but has no adult female in the family. In that case, a male family member may be given home ownership.

Eligibility Criteria of PMAY for Economically Weaker Section (EWS)

For availing of the subsidy under CLSS, the criteria for eligibility stated under EWS Income Category are:

• For the PMAY eligibility under EWS, you or any family members do not own a pucca house anywhere in India.
• The adult female member should hold ownership of the property under her name for PMAY eligibility. The female member of the family could be the sole owner of the property or in joint ownership with the spouse. But, it is not compulsory to fulfil the given condition for availing the PMAY benefit it is taken for the construction of a house on an existing plot or extension/renovation of the existing kaccha/semi-pucca house.
• According to the 2011 Census, the property's location should be within the boundaries of all statutory towns and their surrounding planning areas (updated by the government from time to time).
• The total family Income of the beneficiary must not exceed the amount of Rs.3 lakh for them to be eligible to apply for the PMAY scheme under the EWS Income Category.
• The beneficiary family's house should have a carpet area of up to 30 sq. m. for EWS beneficiaries to be eligible to apply for the PMAY scheme under the EWS income category.
• Only those beneficiary households who have availed of housing loans for the purchase or construction of a home and the repair or extension of a Kucha or Semi Pucca home are eligible to avail all the benefits of the PMAY scheme.
• Although the maximum tenure for the loan is 20 years, the lenders can approve it for up to 30 years, but before the borrower attains the age of 70, these loans need to get repaid.

PMAY Eligibility Requirements for Individuals of Low Incomes Group (LIG)

The following elements meet the PMAY eligibility requirements for the LIG Income Category:

• No one in the family or the beneficiary should own a pukka house in India.
• A family member who is an adult female should get listed as the property owner. The female family member may own the property independently or jointly with their spouse. However, this requirement is unnecessary if the PMAY benefit is used to build a house on an existing plot of land or to extend or renovate an existing Kuccha or semi-pukka house.
• If there is no female family member, the property may be held in the name of the male family head.
• According to the 2011 Census, the property's location should be within the boundaries of all statutory towns and their surrounding planning areas (updated by the government from time to time).
• The household income must fall between Rs.3 lakh and Rs.6 lakh to apply for the PMAY plan under the EWS income group.
• The home of the beneficiary family must have carpeting covering up to 60 sq. m. for EWS recipients to apply for the PMAY plan under the EWS income group.
• Only recipient households who have accessed housing loans for purchasing or building a home and repairing or expanding a Kucha or Semi Pukka home are eligible to qualify for the PMAY scheme.
• Twenty years is the maximum financing term for a home. However, lenders can only approve loans with a maximum 30-year period; the applicant must return these loans before he is 70.
• The recipient must possess an Aadhaar number.

Requirements of PMAY Eligibility for Middle Income Group-I (MIG-I)

The following are the requirements for PMAY eligibility under MIG-I Income Category:

• No one in the family or the beneficiary should own a pukka house in India.
• Female property ownership, whether alone or with a partner, is preferred but not required.
• According to the 2011 Census, the property's location should be within the boundaries of all statutory towns and their surrounding planning areas (updated by the government from time to time).
• The family income must fall between Rs.6lakh and Rs.12lakh to apply for the PMAY plan under the EWS income group.
• To enrol for the PMAY program under the EWS income group, the recipient family's home must have carpeting covering up to 120 square meters.
• Only recipient households who have accessed housing loans for purchasing or building a home and repairing or expanding a Kucha or Semi Pukka home are eligible to qualify for the PMAY scheme.
• Twenty years is the maximum financing term for a home. However, lenders can only authorize loans with a maximum 30-year period; these loans must get returned before the borrower turn up 70 years of age.

Requirements of PMAY Eligibility for Middle Income Group-II (MIG-II)

The following are the requirements for PMAY eligibility under the MIG-II Income Category:

• There should be no pukka houses owned by beneficiaries or family members anywhere in India.
• Female property ownership, whether alone or with a partner, is preferred but not required.
• According to the 2011 Census, the property's location should be within the boundaries of all statutory towns and their surrounding planning areas (updated by the government from time to time).
• Your family income must fall between Rs.12lakh and Rs.18 lakh to apply for the PMAY plan under the EWS income group.
• To enrol for the PMAY program under the EWS income group, the recipient family's home must have carpeting covering up to 150 square meters.
• Only recipient households who have accessed housing loans for purchasing or building a home and repairing or expanding a Kucha or Semi Pukka home are eligible to qualify for the PMAY scheme.
• Twenty years is the maximum financing term for a home. However, lenders can only approve loans with a maximum 30-year period; the applicant must return these loans before he is 70.

Conclusion

Housing for everyone, also known as Pradhan Mantri Awas Yojana (PMAY), is a housing program for all Indians who fall into the lower-income, economically disadvantaged, and middle-income groups. The central government's housing building initiative, which started in 2015, aims to build 2 Cr permanent homes in both urban and rural locations by 2022. There are different PMAY eligibility for all categories of society.

The homes will be built under PMAY-Urban in urban settings. Providing pukka or permanent homes to the slum dwellers and other persons from the LIG, EWS, and MIG categories will primarily clear the overcrowded slum areas.