Pradhan Mantri Awas Yojana by the Government of India comes with various features and benefits. Dividing among different economic classes, the scheme intends to provide Housing for all. Here’s a look at the features and benefits.
|Particulars||Economically Weaker Section||Low Income Group|
|Eligible annual household income||Upto Rs. 3 lakh||Between Rs. 3 lakh and Rs. 6 lakh|
|Carpet area of the dwelling (max.)||30 sq.m.||60 sq.m.|
|Subsidy calculated on a max. loan of||Rs. 6 lakh||Rs. 6 lakh|
|Interest subsidy (% p.a.)||6.50%||6.50%|
|Subsidy amount (max.)||Rs. 2.67 lakh||Rs. 2.67 lakh|
|Maximum loan tenure (in years)||20 yrs.||20 yrs.|
|Discount rate to calculate Net Present Value (NPV) of the interest subsidy||9%||9%|
|Woman Ownership||Mandatory (except for loan availed for construction)||Mandatory (except for loan availed for construction)|
|Validity of the scheme||31 March 2022||31 March 2022|
|Applicability||Loans approved on/after 01/01/2017||Loans approved on/after 01/01/2017|
Note: The above table is framed as per the guidelines of Government of India and is subject to changes as and when there is a change in the scheme.