PMAY Urban: Pradhan Mantri Awas Yojana Housing for all Urban Scheme Explained

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How to Calculate Subsidy Under PMAY Urban?

Purchasing a house involves a significant investment. However, the PMAY scheme lowers such a financial burden by offering an interest subsidy.

For example, if an individual from EWS wants to purchase a house worth 15 lakh, a 20% down payment that is ₹3 lakh is mandatory. Therefore, he needs to apply for a loan of the remaining ₹12 lakh. However, under Pradhan Mantri Awas Yojana Urban, the applicants will enjoy an interest subsidy, say 6.5%, on the loan amount up to ₹6 lakh. In this way, it lowers the financial burden.

Take a look at how much interest subsidy each economic group shall have:

What Are the State Level Nodal Agencies for PMAY (U)?

State Nodal Agencies under PMAY Urban implement this in their respective states. These agencies ensure that eligible beneficiaries get approvals by submitting relevant documents and enjoy interest subsidies.

Here is the list of five state nodal agencies. Take a look:

Economic Groups	Carpet Area	Annual Income
Economically Weaker Section	30 square meters	Up to ₹3 lakh
Lower Income Group	60 square meters	₹6 lakh
Middle-Income Group I	160 square meters	₹6 lakh - ₹12 lakh
Middle-Income Group II	200 square meters	₹12 lakh - ₹18 lakh

Economic Groups	Interest Subsidy	Loan Amount Eligible for Interest Subsidy
Economically Weaker Section	6.5% per annum	₹6 lakh
Lower Income Group	6.5% per annum	₹6 lakh
Middle Income Group I	4% per annum	₹9 lakh
Middle Income Group II	3% per annum	₹12 lakh

Loan amount	₹6 lakh
Interest rate	9%
Monthly Instalment	₹5,398
Interest payable (tenure 20 years)	₹6.95 lakh

Loan amount	₹3,33,000
Applicable Interest Rate	9%
Monthly Instalment	₹2,996
Interest Payable (tenure 20 years)	₹3.86 lakh
Total Reduction on Monthly Instalment	₹2,402
Total Savings on Interest Payment	₹3, 08,939

State	Organisation	Contact Details
Andhra Pradesh	Andhra Pradesh State Housing Corporation Limited	Address – Himayat Nagar, Hyderabad – 500029. Email ID: apshcl.ed@gmail.com
Bihar	Government of Bihar	Address – Urban Development and Housing Department, Vikas Bhawan, Bailey Road, New Secretariat, Patna, Bihar – 15. Email Id: sltcraybihar@gmail.com
Gujarat	Government of Gujarat	Address – Affordable Housing Mission, New Sachivalaya, Block No. 14/7, 7th floor, Gandhinagar – 382010. Email Id: gujarat.ahm@gmail.com/ mis.ahm2014@gmail.com
Jharkhand	Urban Development Department	Address – 3rd floor, Room No: 326, FFP Building, Dhurwa, Ranchi, Jharkhand – 834004. Email Id: jhsltcray@gmail.com/ director.ma.goj@gmail.com
Kerala	State Poverty Eradication Mission	Address – TRIDA Building, Jn. Medical College, PO Thiruvananthapuram. Email Id: uhmkerala@gmail.com

Pradhan Mantri Awas Yojana (PMAY) Urban

Features and Benefits of PMAY Urban Scheme

1. Substantial Subsidy for Every Economic Group

2. Development of Affordable Housing at Urban and Rural Area

3. Construction of Eco-Friendly Houses

Eligibility Criterias for Pradhan Mantri Awas Yojana

How to Check the Beneficiary List of PMAY Urban?

How to Apply for PM Awas Yojana?

Online Steps to Apply for PMAY Urban

Offline Steps to Apply for PMAY Urban

How to Calculate Subsidy Under PMAY Urban?

Individuals With Income up to ₹6 lakhs

How to Check the Status for PMAY Urban?

How to Avail the PMAY Urban Scheme at a Bank?

What Are the State Level Nodal Agencies for PMAY (U)?

Frequently Asked Questions

✓ How much time does it take to receive the subsidy under PMAY Urban scheme?

✓ Can I sell a PMAY house?

Other Important Government Schemes

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