Understanding What Exactly Is PM Awas Yojana


In 2015, the Government of India launched the Pradhan Mantri Awas Yojana to provide affordable housing for the urban and rural poor. This initiative aims to build around 40 million houses for beneficiaries from the lower-income and economically weaker sections of the society. The government has decided to reach these goals by 2022 when the nation will celebrate its 75 years of independence.

To speed up the growth, different public/private sectors assist the government. The scheme covers Jana Dhan banking, drinking water facilities along with the home loan and housing programmes. LPG gas connection named Ujjwala Yojana and Saubhagya Yojana electricity connection is also included in the mission. The scheme consists of PMAY-G or PMAY-R, beneficial in the rural and urban areas.

Learn the key benefits of the PMAY scheme in details hereon.

Pradhan Mantri Awas Yojana Gramin (PMAY-G)

PMAY-G, previously known as Indira Awas Yojana, aims to benefit the rural poor people to purchase a pucca house at affordable rates. Beneficiaries of this scheme are those who are homeless or have kuchha houses. PMAY-G is connected with other facilities of the Government of India like the NDRWP to provide drinking water to beneficiaries, supply cooking fuel, gaining wage employment for 90 days, etc. PMAY-G deals to construct around 40 million houses within the specific time with approximate expenses of Rs.60,000 crore.


This mission aims to provide housing for all at affordable prices and repayment-friendly home loan to chosen individuals in the urban regions of India. It helps beneficiaries to avail ample amount of subsidy from the government to afford houses. It also covers various areas of welfare and developments to urban individuals as a whole. The initiative allows the public and the private sectors to provide flexible chances to construct or buy houses.

Pradhan Mantri Awas Yojana allows LIG and EWS individuals to enjoy a substantial amount of subsidy on their home loans. Subsidies on interest rates are provided up to 4% on home loans of Rs.9 lakh and 3% of Rs.12 lakh. Beneficiaries can also avail a 3% reduction on interest rates for home loans of Rs.2 lakh under the PMAY-G.

Eligibility Criteria

To enjoy the benefits of Pradhan Mantri Awas Yojana, the beneficiaries should know the PMAY eligibility criteria. These are as follows –

  • There should not be any pucca house owned by the beneficiary family.
  • Maximum age of beneficiary must be within 70 years.
  • Maximum family annual income for EWS is Rs.3 lakh and Rs.6 Lakh for LIG beneficiaries.
  • The family should not be registered under any housing related scheme of the central government.
  • There must be a husband, wife and unmarried children in the family to avail this initiative.

If you are an enlisted beneficiary, you can avail a home loan at subsidised interest rates after you enrol to the scheme as an interested applicant. Know if you are eligible by using a PMAY eligibility calculator.

Documents required for a PMAY home loan

There is a need for a list of documents to avail the benefits of PMAY and the required documents are –

  • Form 16.
  • Identity proof.
  • Address proof.
  • Salary slips.
  • House blueprint.
  • Housing society no objection certificate.
  • Construction’s contract related documents.
  • Bank account statement of last 6 months.

How to apply for PM Awas Yojana?

  • Go to the official government portal – pmaymis.gov.in.
  • Refer to the ‘Citizen Assessment’ dropdown menu.
  • Click on ‘Benefits under other 3 components.’
  • Enter your Aadhaar number and ‘submit.’
  • Provide all required information in the next page.
  • Enter the captcha code and ‘Save.’

You have now applied for PMAY online. Refer to an enlisted leading lender to avail a home loan with PMAY subsidized home loan interest rates.

Also Read – Pradhan Mantri Awas Yojana