Pradhan Mantri Awas Yojana - Urban 2.0

Objective

Provide affordable housing to urban under Economically weaker section (EWS), Low Income group (LIG), and Mid Income Group (MIG) categories)

Annual Household Income

EWS :-   Up to ₹3 lakh

LIG :-     Up to ₹6 lakh

MIG :-    Up to ₹9 lakh

For identification as an EWS/LIG/MIG beneficiary under the Scheme, an individual loan applicant will submit self-certificate/affidavit as proof of income.

Loan property limits

Maximum Loan : Rs 25.00 Lakh

Maximum Housing Value : Rs 35.00 Lakh

Maximum Carpet Area : 120 Sqm

House Ownership

• Applicants must not owning a pucca house anywhere in India on his/her name or any other family members. ( An undertaking from the beneficiary will be taken as a declaration)

Key conditions

• Adhaar requirement: - Mandatory for all beneficiaries.
• Self-Undertaking: - Required as per the format
• Registration: - Beneficiaries must register their demand through a Unified web-portal.

Subsidy Details

• A maximum release of interest subsidy of ₹1.80 lakh having maximum NPV of ₹1.50 lakh (at Discount Rate of 8.5%) shall be provided to eligible beneficiaries having a loan tenure of more than five years.
• Households having income up to ₹9 lakh, loan value up to ₹25 lakh for property value up to ₹35 lakh would be eligible for a subsidy at 4.0 % on first ₹8 lakh for a tenure up to 12 years.
• Subsidy to the beneficiaries will be released in 5 equal yearly instalments.

Approved layout plans

The subsidy will be provided to those beneficiaries who have submitted the approved layout plan to the Banks as per guidelines of States/UTs. However, the layout plan may not be insisted by Banks where States/UTs have provided the exemption for construction of houses having provision of deemed approval or pre-approved building plan.

Annual Household Income (₹)

Up to ₹3 lakh

₹3 lakh - ₹6 lakh

₹6 lakh - ₹9 lakh

Interest Subsidy (% P.A.)

4% on the first ₹8 lakh of the loan

4% on the first ₹8 lakh of the loan

4% on the first ₹8 lakh of the loan

Maximum Home Loan Eligible (₹)

₹25 lakh

₹25 lakh

₹25 lakh

Maximum House Value (₹)

₹35 lakh

₹35 lakh

₹35 lakh

Maximum Carpet Area(sqm)

120 sqm

120 sqm

120 sqm

Maximum Benefit of Interest Subsidy (₹)

₹1.80 lakh

₹1.80 lakh

₹1.80 lakh

Current Home Ownership

NO

NO

NO

Property Location

Statutory towns as per Census 2011 or any town subsequently notified by the government