Find out How PMAY Government Scheme is the Smartest Investment Option

With sky-high real estate prices, it has become difficult for the common man to have a house of his own. Often, people stay in rented houses, as they cannot afford to own one. Thankfully, the Government of India is taking positive measures through aspirational housing schemes to provide affordable housing for people. One such scheme is the Pradhan Mantri Awas Yojana.

What is Pradhan Mantri Awas Yojana?

Pradhan Mantri Awas Yojana is a housing scheme that aims at providing affordable housing for all. It was launched by Prime Minister Narendra Modi in June 2015. Under the PMAY Credit-linked Subsidy Scheme, first time homebuyers can avail a subsidy on the interest repayment of their home loan.

This subsidy is available for people who belong to the category of Economically Weaker Sections (EWS) of the society, Lower-Income Groups (LIG) and Middle-Income Groups (MIG) I and II. Moreover, in order to take the benefit of subsidy under this housing scheme, a woman should be the owner or co-owner of the house.

The table below depicts the subsidy provided under the PMAY scheme.

Category Annual income Rate of interest subsidy Maximum loan amount
Economically Weaker Sections (EWS) Rs 3 Lakh 6.50% Rs 6 lakh
Lower Income Group (LIG) Rs 3 lakh – 6 lakh 6.50% Rs 6 lakh
Middle Income Group –I (MIG) Rs 6 lakh –  12 lakh 4% Rs 9 lakh
Middle Income Group – II Rs. 9 lakh – Rs 18 lakh 3% Rs 12 lakh

Benefits of PMAY scheme

Housing for all

PMAY scheme is an inclusive scheme to provide housing for all. Anyone from the beneficiary groups classified basis economic criterion can claim this benefit. Moreover, PMAY also helps uplift the women of the house. To avail the benefit of this subsidy, it is compulsory for a woman from the family to be the owner or co-owner of the property.


PMAY is highly regulated. Due to this, there are lesser chances of legal complications in the ownership of the house. In addition, in housing schemes like PMAY, typically, the projects are completed in a timely manner and, it is ensured that legal and judicial clearances are in place.

Affordable and financially feasible

The price of the houses under the PMAY scheme is lower than the market price in most cases. The houses are affordable which makes it easier for people to take benefit of the scheme. Often such schemes have a location advantage. Accordingly, you can get a house of your own under PMAY in a prime location.

Safe investment

PMAY is regulated by government bodies, and is usually a low-risk form of investment comapred to any other real estate investment.


PMAY helps you purchase your house without draining your savings. As it is highly regulated, it ensures you face no legal issues. Also, it is contributing towards replacing slums with ‘pucca’ houses, benefiting a larger population and promoting overall development in the country. So what are you waiting for? Apply for a home loan under PMAY today and watch your dream come to reality.

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