Can i avail an interest rate subsidy under the PMAY

Q: Yes, you can avail an interest rate subsidy under the Pradhan Mantri Awas Yojana Scheme if your annual income is above Rs. 6 lakh and up to Rs. 18 lakh per year. If eligible for the interest subsidy, you have to apply with your lenders for availing the benefit. To be able to do that, you should not own a house in your name. To know all details about PMAY (Pradhan Mantri Awas Yojna). Contact IMGC

Leela Verma, Delhi

6th October 2017

Home Loan in Gurgaon

ews

lig flats

pradhan mantri awas yojana

pmay

interest rate subsidy

mig flats

mig 1

mig 2

credit linked subsidy scheme

interest subsidy benefits

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PMYojana Awareness,

4th April 2023

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Call 9634562677 for loan requirement and advisory.

24th June 2019

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We provide home loan from Vastu u housing interested useer please call on-9990330520 Brijesh

ic brijesh,

26th May 2018

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Hello Leela,
Here are some useful details of PMAY. For EWS and LIG - up to Rs.600000, carpet area - 60 sq-m, Interest subsidy percentage - 6.50 percent, subsidy calculated on a max loan of Rs.600000 and maximum subsidy would be Rs.2.67 lacs.
For MIG 1 - eligibility household income Rs.600001 to Rs. 1200000, carpet area - 90 sqm, Interest subsidy percentage - 4 percent, subsidy calculated on a max loan of Rs.900000 and maximum subsidy would be Rs.2.35 lacs.
For MIG 2- Eligibility House Hold Income Rs. 1200001 to Rs. 1800000, carpet area - 110 sqm, Interest subsidy percentage - 3 percent, subsidy calculated on a max loan of Rs.1200000 and maximum subsidy would be Rs.2.30 lacs.

Nikita Mishra, Delhi

16th October 2017

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Yes, apart from that, MIG - 1 & 2 loan should be approved on or after 1-1-2017 and Interest subsidy benefit is calculated on a NPV discount rate of 9 percent.
The tenure of loan has been specified maximum to be of 20 years or whatever preferred by the beneficiary, whichever is lower.

Hritwik, Noida

16th October 2017

An interest subsidy scheme is also know as Credit Linked Subsidy Scheme under Pradhan Mantri Awas Yojna. There are some eligibility Criteria for availing this facilities, 1) The beneficiary family should not own a pucca house in his or her or in the name of any member of his or her family in any part of India. 2) The beneficiary family should not have availed of central assistance under any housing scheme from Government of India or any benefit under any scheme in PMAY. 3) In case of married couple, either of the spouse or both together in joint ownership will be eligible for a single subsidy.
The beneficiary family will comprise husband, wife and unmarried children. An adult earning member irrespective of marital status can be treated as a separate household in MIG category.

Shrey, Delhi

16th October 2017

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