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Tata Capital > Blog > Loan for Home > What is The Affordable Housing Criteria to be Eligible?

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What is The Affordable Housing Criteria to be Eligible?

What is The Affordable Housing Criteria to be Eligible?

The Government of India aims to realise its objective of affordable housing for all by 2022. If you are looking to avail of the Pradhan Mantri Awas Yojana (PMAY) benefits, read on to explore the key features and the eligibility criteria of the scheme in detail.

Features of Pradhan Mantri Awas Yojana

The Pradhan Mantri Awas Yojana, the central government’s flagship housing project, provides affordable home loansat subsidised or reduced interest rates, extended loan tenures, eco-friendly home construction, additional financing benefits, and more to all income groups. These include the following categories:

  • Low Income Group (LIG): Families with a yearly household income between Rs. 3 and Rs. 6 lakhs
  • Economically Weaker Sections (EWS): Families with a yearly household income below Rs. 3 lakhs
  • Middle Income Group I (MIG I): Families with a yearly household income between Rs. 6 lakhs and Rs. 12 lakhs
  • Middle Income Group II (MIG II): Families with a yearly household income between Rs. 12 lakhs and Rs. 18 lakhs

The ambitious government-backed scheme offers a home loan subsidy of up to Rs. 2.67 lakhs to eligible applicants. You can use the funds to purchase or construct an affordable house. Under the Pradhan Mantri Awas Yojana (PMAY), developers use sustainable building technologies and environment-friendly construction materials to build houses.

Besides, the initiative has no limits on the loan amount that you can borrow. The scheme aims to encourage homeownership or co-ownership in female members of families. To this end, it provides preference to widows, salaried women, the differently-abled, transgender people, and senior citizens.

Additional Read: What Are the Prominent Affordable Housing Schemes Available in India?

Eligibility criteria for Pradhan Mantri Awas Yojana

Here are the affordable housing eligibility criteria you must fulfil to avail of the scheme’s benefits.


As per your yearly household income, you must fall under any one of the four categories, EWS, LIG, MIG I, and MIG II.

No prior ownership

You or any other member of your family must not own a pucca house anywhere across the country.

No central assistance

You or any other member of your family should not have availed of subsidy benefits under any other government housing schemes.

Female ownership or co-ownership

If you belong to the EWS and LIG categories, at least one female member of your family must have been appointed as the owner or co-owner of the prospective property.

Additional Read: Reasons Why Affordable Housing is Important in India

Over to you

Are you eligible for the Pradhan Mantri Awas Yojana? Get in touch with Tata Capital to avail of cost-effective housing finance. Explore a wide range of home financing solutions and choose what works best for you!

At competitive interest rates starting from just 6.90%, you can get a loan amount as high as Rs. 5 crores. With us, you can provide minimal paperwork and expect speedy processing and disbursal of the loan amount. Moreover, you can opt for flexible EMI plans and extended loan tenures of up to 30 years.

Check out our home loan eligibility and apply for a loan today!

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