Features and Benefits – Pradhan Mantri Awas Yojana

2 min read

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.

ParticularsEconomically Weaker SectionLow Income Group
Eligible annual household incomeUpto Rs. 3 lakhBetween 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 ofRs. 6 lakhRs. 6 lakh
Interest subsidy (% p.a.)6.50%6.50%
Subsidy amount (max.)Rs. 2.67 lakhRs. 2.67 lakh
Maximum loan tenure (in years)20 yrs.20 yrs.
Discount rate to calculate Net Present Value (NPV) of the interest subsidy9%9%
Woman OwnershipMandatory (except for loan availed for construction)Mandatory (except for loan availed for construction)
Validity of the scheme31 March 202231 March 2022
ApplicabilityLoans approved on/after 01/01/2017Loans 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.

Leave a Reply

Your email address will not be published. Required fields are marked *

Copyright © 2019 All rights reserved. | Portal Owned by Digital One Web Solutions.