Who is eligible for the PMAY scheme?

With the help of the PMAY scheme, you can get a home loan at a subsidized interest rate and reduce your home ownership cost. To avail of the benefits under the PMAY scheme, you are required to fulfill the following eligibility criteria: You must fall under any of the four income categories - EWS, LIG, MIG I, and MIG II You should not own a pucca house either in your name or in the name of any of your family members in any part of India You should not have availed of central assistance under any housing scheme of your state or central government You should not have availed of the CLSS subsidy from any of the Prime Lending Institutions (PLIs) in India You can take the help of a PMAY calculator to determine whether you are eligible for the PMAY or not.

What paperwork do I need to submit for a PMAY subsidy application?

Besides the regular home loan documents, you are required to submit some additional papers to avail of the interest subsidy under the PMAY scheme. These include: Affidavit cum declaration to prove that you do not own any pucca house in India Proof of your annual household income - self-attested income certificate, salary slips Identity proof - Aadhaar card, PAN card, Driving license, Voters’ ID card A copy of the address proof NOC from a competent authority or a housing society

PMAY 2.0 Subsidy and Eligibility Calculator

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Overview Required Documents Rates & Charges

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PMAY Eligibility Calculator

Annual family income

₹

₹75,000 ₹35,00,000

Tenure

1 Years 6 Years

Loan amount

₹

₹75,000 ₹35,00,000

Subsidy Amount

Subsidy Category

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Disclaimer: The aforementioned values, calculations and results are for illustrative and informational purposes only and may vary basis various parameters laid down by Tata Capital.

What is PMAY?

Also known as the “Housing for All” scheme, the PMAY or Pradhan Mantri Awas Yojana is an affordable housing scheme launched by the Government of India in June 2015. By the 31^st March, 2022, this social welfare flagship program targets to construct around 20 million affordable houses.

You can use a PMAY subsidy calculator to know if you’re eligible for the PMAY benefits and if yes, then to what extent.

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Who is Eligible for PMAY Subsidy ? Key Criteria Explained

Under the Pradhan Mantri Awas Yojana Urban scheme, eligibility for interest subsidy under the Credit Linked Subsidy Scheme is primarily determined by annual household income, property ownership status, and compliance with scheme guidelines.

Applicants are categorised into four income groups:

Economically Weaker Section, EWS: Annual household income up to ₹3 lakh
Low Income Group, LIG: ₹3 lakh to ₹6 lakh
Middle Income Group I, MIG I: ₹6 lakh to ₹12 lakh
Middle Income Group II, MIG II: ₹12 lakh to ₹18 lakh

To qualify for subsidy:

The beneficiary family must not own a pucca house anywhere in India.
The applicant should not have availed central assistance under any other housing scheme.
The property must comply with carpet area norms prescribed under PMAY guidelines.
For EWS and LIG categories, female ownership or co ownership is generally mandatory, except in specific exempted cases as per scheme rules.

Using a PMAY eligibility calculator helps applicants assess their income category and potential qualification before proceeding with a subsidy application.

What is a PMAY Eligibility Calculator?

A PMAY calculator or Pradhan Mantri Awas Yojana Calculator is a home loan subsidy calculator through which you can evaluate the maximum home loan subsidy you can get under the PMAY scheme.

Also known as the “PMAY subsidy calculator”, a PMAY home loan calculator is a self-help tool that works on the PMAY subsidy calculation formula. It requires you to enter your annual household income, home loan amount, and home loan tenure. After receiving these details, the PMAY loan calculator displays your beneficiary category and the home loan subsidy amount within a few seconds.

Step-by-Step Guide to Using the PMAY Calculator

Tata Capital’s Pradhan Mantri Awas Yojana Calculator is easy to use and provides instantaneous results. Below are the steps to use our PMAY home loan subsidy calculator:

Enter annual income

Enter your annual household income by using the slider or typing the amount.

Enter home loan tenue

Next, enter your home loan tenure by moving the slider or typing in the box.

Enter home loan amount

Finally, enter your home loan amount by using the slider or typing the amount in the box.

Get subsidy details

Your Home Loan subsidy amount and subsidy category will be displayed instantly.

How is PMAY Subsidy Calculated?

With the help of the PMAY scheme, you can avail of a home loan at a subsidized interest rate and buy the house of your dreams. Depending on your annual household income, you can save up to Rs. 2.67 lakh when you buy a house using a subsidized home loan under the PMAY scheme. This subsidy is provided on a maximum home loan amount of Rs. 12 lakhs taken for a tenure of up to 20 years.

A PMAY calculator can help you know the exact subsidy amount that you can avail of as a PMAY beneficiary. You can also use a it to evaluate the EMIs that you need to pay for your home loan taken under the PMAY scheme. All you need to do is enter a few important details in the PMAY calculator, and it will display your subsidy amount, subsidy category, and home loan EMIs within a few seconds.

The basic details that you need to enter in a PMAY calculator include your annual household income, home loan amount, the applicable rate of interest, and the home loan tenure. Once you enter these values in a PMAY calculator, it will display the results quickly. But do you know how the PMAY subsidy amount is calculated?

When you enter the required values in a PMAY calculator, the first thing it does is check whether you are eligible to avail of the PMAY benefits or not. And if yes, then to which category of the PMAY beneficiary do you belong? Based on your beneficiary category, your maximum subsidy amount is calculated. Below are the subsidy rates for different PMAY categories:

If your annual household income is Rs. 3 lakh or lesser, you will fall under the Economically Weaker Section (EWS) category. In this case, you can avail of an interest subsidy of 6.5% on a maximum home loan amount of Rs. 6 lakh. So, the maximum subsidy available under this category is Rs. 2.67 lakh
If your annual household income is between Rs. 3 lakh and Rs. 6 lakh, you will fall under the Low-Income Group (LIG) category. The interest subsidy offered to the people belonging to this category is the same as the EWS category
If your annual household income is between Rs. 6 lakh and Rs. 12 lakh, you will fall under the Mid-Income Group I (MIG I) category. In this case, you can avail of an interest subsidy of 4% on a maximum home loan amount of Rs. 9 lakh. So, the maximum subsidy available under this category is Rs. 2.35 lakh
If your annual household income is between Rs. 12 lakh and Rs. 18 lakh, you will fall under the Mid-Income Group II (MIG II) category. In this case, you can avail of an interest subsidy of 3% on a maximum home loan amount of Rs. 12 lakh. So, the maximum subsidy available under this category is Rs. 2.30 lakh

If your home loan amount exceeds the maximum amount eligible for the PMAY subsidy, the additional loan amount will be given at the non-subsidized interest rate. For example, if you have taken a home loan of Rs. 30 lakh and you belong to the MIG I category, you will get a loan of Rs. 9 lakh at a 4% subsidy, and the remaining Rs. 21 lakh will be at the normal rate charged by the lender.

Factors Affecting PMAY Subsidy Calculation

While using a PMAY subsidy calculator, you’re required to enter your annual household income, home loan amount, and home loan tenure to calculate your home loan subsidy. Let’s understand how these three factors impact your PMAY subsidy:

Annual Household Income

Your annual household income determines your PMAY beneficiary category and, subsequently, your maximum home loan subsidy amount. The lower your annual household income, the higher would be your PMAY subsidy amount.

Home Loan Tenure

The subsidy amount in a home loan subsidy calculator increases with the increase in the home loan tenure or the duration for which a home loan is taken.

Home Loan Amount

Your home loan principal amount is another crucial factor that impacts the amount of home loan subsidy you can avail of under the PMAY scheme. The PMAY subsidy increases with an increase in the home loan amount. Your home loan amount also helps you calculate your home loan EMIs through a PMAY home loan EMI calculator.

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PMAY Subsidy Categories & Criteria

The beneficiaries under the PMAY scheme are largely divided into four categories based on their annual household incomes. Your PMAY subsidy will essentially depend upon the beneficiary category you fall under. The table below depicts the four beneficiary categories defined under the PMAY scheme:

Category	Annual Household Income	Maximum Home Loan Eligible for Subsidy	Maximum home loan subsidy
Economically Weaker Section (EWS)	Rs. 3 lakhs or below	Up to Rs. 6 lakhs	Rs. 2.67 lakhs
Low-Income Group (LIG)	Rs. 3 lakhs to Rs. 6 lakhs	Up to Rs. 6 lakhs	Rs. 2.67 lakhs
Mid-Income Group I (MIG I)	Rs. 6 lakhs to Rs. 12 lakhs	Up to Rs. 9 lakhs	Rs. 2.35 lakhs
Mid-Income Group II (MIG II)	Rs. 12 lakhs to Rs. 18 lakhs	Up to Rs. 12 lakhs	Rs. 2.30 lakhs

To know your beneficiary category and the maximum home loan subsidy you can avail of under the PMAY scheme, you can simply input your annual household income in the PMAY subsidy calculator.

Benefits of Using the PMAY Subsidy Calculator

A PMAY subsidy calculator is a practical planning tool that helps homebuyers estimate the potential interest subsidy available under the scheme.

Key benefits include:

Quick identification of beneficiary category based on income
Instant estimate of maximum eligible subsidy amount
Clear understanding of how subsidy impacts the principal outstanding
Better financial planning before loan application

Under PMAY, subsidy is credited upfront to the loan account, reducing the principal outstanding. This may lower the EMI or shorten the tenure, depending on lender norms.

Since subsidy rates and limits are governed by official guidelines, the calculator provides an indicative estimate. Final subsidy approval remains subject to lender verification and validation by designated nodal agencies.

Common Mistakes to Avoid in PMAY Applications

Certain errors can delay or affect subsidy approval:

Incorrect declaration of annual household income
Failure to verify income category before applying
Applying despite owning a pucca house
Incomplete documentation submission
Mismatch between home loan documents and PMAY application details

Applicants should carefully review scheme criteria and use the PMAY eligibility calculator before applying. Ensuring that income certificates, KYC documents, property details, and declarations are accurate can help reduce processing delays.

Tips to Maximize Your Home Loan Subsidy Under PMAY

To optimise your subsidy benefit:

Accurately declare your annual household income under the correct category
Select a loan amount within the subsidy eligible limit for your category
Choose a suitable tenure, as subsidy is calculated on defined loan caps and tenure norms
Apply through an approved lending institution
Ensure all declarations and supporting documents are consistent and complete

Using the PMAY calculator in advance allows you to estimate the subsidy impact and structure your home loan accordingly.

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Popular FAQs

With the help of the PMAY scheme, you can get a home loan at a subsidized interest rate and reduce your home ownership cost. To avail of the benefits under the PMAY scheme, you are required to fulfill the following eligibility criteria:

You must fall under any of the four income categories - EWS, LIG, MIG I, and MIG II
You should not own a pucca house either in your name or in the name of any of your family members in any part of India
You should not have availed of central assistance under any housing scheme of your state or central government
You should not have availed of the CLSS subsidy from any of the Prime Lending Institutions (PLIs) in India

You can take the help of a PMAY calculator to determine whether you are eligible for the PMAY or not.

A PMAY calculator is a simple-to-use online tool that can help you know your PMAY eligibility and calculate the maximum PMAY subsidy that you can avail of. All you need to do is enter a few details in it - including your annual household income, home loan amount, and home loan tenure, and it will display your PMAY eligibility within a few seconds.

The maximum subsidy that you can avail of under the PMAY scheme is Rs. 2.67 lakh. You can calculate your exact PMAY subsidy using a PMAY calculator. You will need to enter your annual household income, home loan amount, and home loan tenure in a PMAY calculator, and it will display your PMAY subsidy amount within a few seconds.

The PMAY benefits are available only for those who are looking to buy a home for the first time. The most vital criterion to avail of the PMAY subsidy is that you should not be owning a pucca house anywhere in India. So, if you have already taken a home loan, you won’t be able to apply for the PMAY subsidy.

The PMAY calculator is a simple-to-use online tool that can help you know whether you are eligible for the PMAY scheme or not. It also enables you to determine the maximum PMAY subsidy that you can avail of. Here are a few more benefits of using it:

It is available online for free
It displays the results instantly
You can also calculate the EMIs that you need to pay for your home loan
You can plan your home-buying efficiently

Yes. You can use a PMAY calculator anytime to determine the EMIs that you need to pay for your home loan. However, it’s better to calculate your EMIs before taking the loan as it allows you to plan your repayments in a better manner and make an informed decision.

The PMAY subsidy is available on a maximum loan amount of Rs. 12 lakh for the MIG II category, Rs. 9 lakh for the MIG I category, and Rs. 6 lakh for the EWS and LIG categories. You can also take a larger loan amount than the prescribed limit for PMAY. However, any additional loan beyond the subsidized loan amount will be charged at the normal interest rate.

For example, if you belong to the MIG I category, the maximum home loan amount that you can avail of on subsidy is Rs. 9 lakh. You can take a larger loan amount as well, but the amount beyond Rs. 9 lakh will attract interest at a non-subsidized rate.

Besides the regular home loan documents, you are required to submit some additional papers to avail of the interest subsidy under the PMAY scheme. These include:

Affidavit cum declaration to prove that you do not own any pucca house in India
Proof of your annual household income - self-attested income certificate, salary slips
Identity proof - Aadhaar card, PAN card, Driving license, Voters’ ID card
A copy of the address proof
NOC from a competent authority or a housing society

The PMAY scheme was launched on June 25, 2015, to help Indian citizens realize their dream of owning a house. Initially, the cut-off date for providing the PMAY benefits was March 31, 2022. However, it has been extended till December 31, 2024, by the government.

As soon as you apply for the PMAY subsidy along with the required documents, your lender initiates a verification process. This is done to confirm your eligibility for the PMAY scheme. Once the verification process is successful, the PMAY subsidy amount will be transferred to your bank account within a few working days.

A home loan balance transfer allows you to switch your home loan to a new lender offering better features and benefits. If you have taken the PMAY subsidy on your home loan, it gets transferred automatically when you switch your lender.

A PMAY eligibility calculator is an online tool that estimates whether you may qualify for interest subsidy under the scheme. It considers annual household income, loan amount, and tenure to determine your beneficiary category and indicative subsidy.

First time homebuyers belonging to EWS, LIG, MIG I, or MIG II categories may apply, provided they meet income limits and do not own a pucca house anywhere in India.

The subsidy amount is credited upfront to your home loan account by the designated nodal agency. This reduces the principal outstanding, which may lower your EMI or loan tenure.

For EWS and LIG categories, female ownership or co ownership is generally mandatory, except in specific situations permitted under scheme guidelines.

If you already own a pucca house anywhere in India, you are generally not eligible for PMAY benefits. However, you may use the PMAY eligibility calculator to understand category norms and scheme conditions.

Applicants typically need income proof, identity proof, address proof, property documents, and an affidavit cum declaration confirming non ownership of a pucca house.

Yes, self employed individuals may apply under PMAY provided they satisfy income criteria, documentation requirements, and other eligibility norms defined under the scheme.

If your sanctioned loan exceeds the subsidy eligible cap, subsidy is calculated only on the defined eligible portion. The remaining amount is charged at the regular interest rate applicable to your home loan.

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