With the mission of “Housing for All”, Government of India started the Pradhan Mantri Awas Yojana (PMAY). However, there are many doubts for loan seekers like who is eligible for Pradhan Mantri Awas Yojana (PMAY)? What is the eligibility to apply under Pradhan Mantri Awas Yojana (PMAY)?
Note:-Refer our latest post on Pradhan Mantri Awas Yojana’s eligibility at “Who is eligible for Pradhan Mantri Awas Yojana (PMAY) 2020?
Note:- You can now check your PMAY application status online. Refer the post “How to check PMAY Scheme status online easily?” for more details.
In this post, let me clear all those doubts by discussing about who is eligible for Pradhan Mantri Awas Yojana (PMAY).
Schemes under Pradhan Mantri Awas Yojana (PMAY)
Currently, there are three schemes under which you can apply for Pradhan Mantri Awas Yojana (PMAY). They are as below.
- EWS (Economically Weaker Sections)/LIG (Low Income Group)
- CLSS (MIG-I)
- CLSS (MIG-II)
Who is eligible for Pradhan Mantri Awas Yojana (PMAY)?
Now let us discuss the eligibility of the applicant for Pradhan Mantri Awas Yojana (PMAY) under each such scheme separately.
# Eligibility of Pradhan Mantri Awas Yojana (PMAY) under EWS/LIG Scheme
- You/your family/household should not own a pucca house in any parts of the country either in his name or any of his family member’s name
- One adult female membership is mandatory in the property ownership.
- The property should be co-owned by a female member of the family. However, this condition will not be made mandatory in cases of construction of house on an existing plot or extension/renovation of existing Kuccha/Semi-pucca house.
- Location of the property should fall under all statutory towns as per 2011 census and their adjacent planning area (updated by the government from time to time).
- Here, family means husband, wife, unmarried sons and/or unmarried daughters.
- Whoever applying under EWS scheme must have an annual income up to Rs.3 lakhs.
- Whoever applying under EWS scheme must have an annual income between Rs.3 lakhs to Rs.6 lakhs.
- The scheme will be for the period of 17th June 2015 to 31st March 2022.
- The carpet area of the house under these Schemes should up to 30 sq. mts. for EWS beneficiaries and upto 60 sq. mts. for LIG beneficiaries.
- Meaning of Carpet Area-The net usable floor area of an apartment, excluding the area covered by the external walls, but includes the area covered by internal partition walls of the apartment.
- This scheme is available for housing loans availed for acquisition/construction of house and repair/extension of Kucha/Semi Pucca house.
- The maximum term of the loan is 20 years.
- The maximum age limit is 70 years of age, at the end of the repayment period.
- In the event of default in repayment of the loan by the borrower/beneficiary to the Bank and the loan becoming
Non Performing Assets(NPA), the Bank will proceed for recovery of dues through such measures as considered
appropriate, including foreclosure of the property. In all such cases, the amount of the recoveries will be
charged to the subsidy amount on a proportionate basis(in proportion to the loan outstanding and subsidy
disbursed).
# Eligibility of Pradhan Mantri Awas Yojana (PMAY) under CLSS (MIG-I) Scheme
- You must not own a pucca house either in his/her name or in the name of any member of his/her family in any part of India.
- You must not have availed any central/state assistance under any housing scheme from Government of India ever.
- Adult female membership ownership in property is desirable.
- Location of the property should fall under all statutory towns as per 2011 census and or adjacent planning area (updated by government time to time).
- The credit linked subsidy @ 4% will be available for loan amount up to Rs.9 lakhs in case of MIG-I. However, the Banks can sanction Home Loans more than Rs.9 lakhs but the subsidy will be restricted to Rs. 9 lakhs only.
- Loan tenure is 20 years. However, Banks can sanction loans for a maximum tenor of 30 years but the loan has to be repaid before the borrower attains the age of 70 years.
- You are eligible to apply for MIG-I if your annual income is from Rs 6,00,001 to Rs. 12 lakhs.
- Here, family means husband, wife, unmarried sons and/or unmarried daughters.
- An adult earning member (irrespective of marital status) can be treated as a separate household and can avail subsidy independently.
- In case of married couple, either of the spouses or both together in joint ownership will be eligible for a single house subject to income eligibility of the household under the scheme.
- The carpet area of house under this Scheme should be up to 120 sq. mts. (1292 sq ft) for MIG-I beneficiaries.
- Meaning of Carpet Area-The net usable floor area of an apartment, excluding the area covered by the external walls, but includes the area covered by internal partition walls of the apartment.
- Special loan offers of banks like SBI MaxGain will not be eligible for this scheme.
- All loans accounts under the Scheme will be linked to Aadhaar.
- Applicable in case of Repair and Renovation.
- Total deduction from Gross income, including proposed EMI on Home Loan, not to exceed 50% of the Gross
Income. Net take home pay should not be less than 50% of the Gross Income of the applicant/s for loan limit
up to Rs.10 Lacs. For a loan over Rs.10 Lacs, total deduction from Income, including EMI on proposed home loan not to exceed 60% of the Gross Income of the applicant. - In the event of default in repayment of the loan by the borrower/beneficiary to the Bank and the loan becoming
Non Performing Assets(NPA), the Bank will proceed for recovery of dues through such measures as considered
appropriate, including foreclosure of the property. In all such cases, the amount of the recoveries will be
charged to the subsidy amount on a proportionate basis(in proportion to the loan outstanding and subsidy
disbursed).
# Eligibility of Pradhan Mantri Awas Yojana (PMAY) under CLSS (MIG-II) Scheme
- You must not own a pucca house either in his/her name or in the name of any member of his/her family in any part of India.
- You must not have availed any central/state assistance under any housing scheme from Government of India ever.
- Adult female membership ownership in property is desirable.
- Location of the property should fall under all statutory towns as per 2011 census and or adjacent planning area (updated by government time to time).
- The credit linked subsidy @3% for Rs 12 lacs in case of MIG-II. However, the Banks can sanction Home Loans more than Rs.12 lakhs but the subsidy will be restricted to Rs.12 lakhs only.
- Loan tenure is 20 years. However, Banks can sanction loans for a maximum tenor of 30 years but the loan has to be repaid before the borrower attains the age of 70 years.
- You are eligible to apply for MIG-II if your annual income is from Rs 12,00,001 to Rs. 18 lakhs.
- Here, family means husband, wife, unmarried sons and/or unmarried daughters.
- An adult earning member (irrespective of marital status) can be treated as a separate household and can avail subsidy independently.
- In case of a married couple, either of the spouses or both together in joint ownership will be eligible for a single house subject to income eligibility of the household under the scheme.
- The carpet area of house under this Scheme up to 150 sq. mts. (1614 sq ft)for MIG-II beneficiaries.
- Meaning of Carpet Area-The net usable floor area of an apartment, excluding the area covered by the external walls, but includes the area covered by internal partition walls of the apartment.
- Special loan offers of banks like SBI MaxGain will not be eligible for this scheme.
- All loans accounts under the Scheme will be linked to Aadhaar.
- Applicable in case of Repair and Renovation.
- Total deduction from Gross income, including proposed EMI on Home Loan, not to exceed 50% of the Gross
Income. Net take home pay should not be less than 50% of the Gross Income of the applicant/s for loan limit
up to Rs.10 Lacs. For a loan over Rs.10 Lacs, total deduction from Income, including EMI on proposed home loan not to exceed 60% of the Gross Income of the applicant. - In the event of default in repayment of the loan by the borrower/beneficiary to the Bank and the loan becoming
Non Performing Assets(NPA), the Bank will proceed for recovery of dues through such measures as considered
appropriate, including foreclosure of the property. In all such cases, the amount of the recoveries will be
charged to the subsidy amount on a proportionate basis(in proportion to the loan outstanding and subsidy
disbursed).
Let me explain the same using the below tabular sheet.
GST rate for homes purchased under the Credit-Linked Subsidy Scheme (CLSS)
Effective from 25th January 2018, if you purchased the property under the Credit-Linked Subsidy Scheme (CLSS), then the applicable GST rate will be 12%. The effective rate of 8% after deducting one-third of the amount charged for the house towards the cost of land.
What is Credit-Linked Subsidy Scheme (CLSS)?
If you purchased the property under the schemes like:-
- Economically Weaker Sections (EWS)
- Lower Income Group (LIG)
- Middle Income Group-1 (MlG-1) or Middle Income Group-2 (MlG-2) under the Housing for All (Urban) Mission/Pradhan Mantri Awas Yojana (PMAY Urban).
Refer the complete post on GST for Property at “GST rate on real estate or under construction property purchase“.
Hope this post will clear the doubts about who is eligible for Pradhan Mantri Awas Yojana (PMAY) or eligibility conditions for Pradhan Mantri Awas Yojana (PMAY).
How to download LTCG Tax Statement of Equity Mutual Funds?
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Chetan joshi
Hello sir,
I have applied for PMAY, borrower is my mother and I am co-borrower(son). Bank is saying that mother & son borrowers are not eligible for subsidy. Is it true? In same case my two friends have got the subsidy.
Basavaraj Tonagatti
Dear Chetan,
I think they are wrong.
Chetan joshi
Thanks for the revert sir, i have confirmed it from my friend who is on good post in same bank he also said it’s nothing like that. Let’s hope for the best.
Thanks again.
Basavaraj Tonagatti
Dear Chetan,
Good to know.
Sandeep Tripathi
Sir My father ( 60 Year Now ) have taken the loan on 15/10/2020..this is first Pauuca House ..My brother is Co Borrower , Loan repayment period is 15 Year..Bank Manager is denying for subside and told me that Loan has to be repaid maximum age of 70 Year of Borrower and Your father is not eligible as his loan repayment will be lasted for 75 year.
My Brother is Co borrower and his age is 39 Year ..I have read but not sure if main borrower is not fully filling the criteria then legal Heir can join for full filling the Criteria to avil the benefits….Sir pls guide is it true that we are not eligible??
If 70 year is conditions then can we resuture the loan 15 year to 10 year to avail the benefit.??? BANK will allow re Structuring the loan ??
Sir pls do the needful…and guide me for the same
Basavaraj Tonagatti
Dear Sandeep,
Yes, bank guys are right.
Abhishek Gattani
1) Hi sir,
My Father purchased a flat in 2016 with loan cleared in 2016. However we don’t have any women coapplicant or as my mom passed away in 2008. Are we eligible for this PMAY scheme we submitted all the required
documents however still waiting for results and nothing is shared so far
Income less than six lakh :
All ITR filed for last 15 years
Age when loan taken 56
Loan will be there for tenure of 13 years
Total saleable area : 963 SQFT and carpet area less than 700 sqft
Kindly suggest Thanks for you suggestions
Basavaraj Tonagatti
Dear Abhishek,
Please refer the above table.
Abhijeet
Sir I’m railway employee my yearly income is less than 5 lacs can I avail this benefit? Kindly guide me how ? I will pay for consultation please..
Basavaraj Tonagatti
Dear Abhijeet,
Yes, you can.
Gautam
HI sir,
I bought my first house on Dec 2017 with loan tenure for 20 years , we are paying the loan. He has not claimed PMAY scheme that time. Is it possible to claim now? It is his first property.
Basavaraj Tonagatti
Dear Gautam,
Try your luck.
Vamshidhar
Hello
Loan was sanctioned on my name but property is registered on mine and spouse name.Bank is adding wife as a guarantor can I apply for PMAY. All other criteria is meeting
Thanks
Basavaraj Tonagatti
Dear Vamshidhar,
Yes.
Vamshidhar
Thank you sir
mg14work
Hi,
Is the photo of applicant and co-applicant mandatory while applying for PMAY via the bank from whom the loan is taken. Actually, me and my wife took this loan together, but after buying we relocated to some other city. And not in a condition to go back and take a picture in front of our flat anytime soon now.
What can be done? Can we still apply without that photo of ours in front of our flat which we bought?
If yes, then does the changes of getting PMAY subsidy reduces if applied without photo.
Second question: it’s a flat in high rise fully ready and occupied. Therefore we can only click the photo in front of the main door. Is it also required to share similar photo of the building also ?
Basavaraj Tonagatti
Dear MG,
It is a procedural issue, better you check with bank.
Ak
Hi I come under LIG have opted loan and I am single also added my mother as a co-owner in agreement but not having any property on mother’s name but my father having property held in his name I am eligible for the scheme ?
Basavaraj Tonagatti
Dear AK,
Whether other conditions are meeting?
Sushil Tiwari
Thank you sir for prompt Help.
Bank person had said that I am not eligible for PMAY since I had purchased flat as i have purchased and sold flat in past.
Now you have clarified my doubts, will apply for PMAY by self.
Sushil Tiwari
Hi,
I had purchased a property in 2010 and sold in 2017 and i had not taken any government subsidies or schemes.
Now i have purchased property in 2020, will I be eligible for PMAY for purchased property in 2020? ( During purchase of property in 2020, there was no pucca house on my name or family member and in past also i had not taken government
subsidy scheme)
Please guide on same.
Basavaraj Tonagatti
Dear Sushil,
Yes.
C S Harsha
I am trying to buy a house which is built in 2014-15. Bank guys are telling I am not eligible since house should be built after 2016, are they right? My age is 33 y and my father is 69 y.
Basavaraj Tonagatti
Dear Harsha,
I don’t think so.
Sujoy Baidya
I have taken handover my property completely on 29th June 2016. Am I eligible for Pradhan Mantri Aawaj Yojna
Basavaraj Tonagatti
Dear Sujoy,
NO.
Ashish saxena
Sir i booked a house in 2014 for which I took a loan from bank also innthe scheme of 60-40 .
My registry done in 2018 . Will I be eligible for pmay
Basavaraj Tonagatti
Dear Ashish,
Check for other eligibility creteria.
Vijay Singh
I booked a flat in amrapali however still i did not get the possesion. Will irlt be considered as a pukka makan.incase I purchase another constructed flat, will I be eligible for pmay?
Basavaraj Tonagatti
Dear Vijay,
Booking is not considered as a PURCHASE.
Dipen Dalsaniya
Hello Sir,
I have income group Mig-1 and my carpet area comes according mig-2
So can i eligible for subsidy ?
Basavaraj Tonagatti
Dear Dipen,
Whether all other conditions are meeting?
Tejali
Hi, My loan has been disbursed to builder but my loan agency did not submit my CLSS. They asked me to visit bank along with the self attested copy of my parents- pan card & aadhar. I am single , living with my parents… no co-applicant in my loan. so do i need to submit my parents documents?
I have gone through CLSS document, it shows that beneficiary includes, husband , wife & unmarried children. they didnt mention about parents anywhere. Plz advise.
Basavaraj Tonagatti
Dear Tejali,
Not only application but property ownership also have rules. Please contact the bank for further understanding.
Hiren
Dear sir, My dad is 64 years old & Mom 55 years old and my age are 35. We all 3 have bought 1st pucca house in Mumbai and applied for bank loan of Rs.30 lakhs, bank person said I will not get the benefit of PMAY because my dad’s age is 64. Loan tenure is 15 years.
Basavaraj Tonagatti
Dear Hiren,
Bank guys are correct.
DEVIREDDY SRINIVASULU
Sir, is it scheme eligible for state or central Govt employees
Basavaraj Tonagatti
Dear Devireddy,
They have not specified the employment but the income.
Rahul
HI Sir
For getting subsidy in PMAY scheme, will the household income be calclated based on CTC or Inhand Salary post all taxes. My CTC has some variable component , if i deduct that i will be there in MIG2 category
Basavaraj Tonagatti
Dear Rahul,
There is no clarity on this. However, as per me, I think it is net taxable income.
Mayuree
Basavraj sir,
My elder sister has owned a flat in her own name and from her own income and taken the benefit PMAY in last year.
Now I want to purchase a flat in my own name and from my own income.
Can I get the benefit of PMAY?
As my Aadhar no.had alredy submitted , while filing the application of my sister in her family details.
Basavaraj Tonagatti
Dear Mayuree,
If both of you are major, then I don’t think her PMAY is a constrain for your application.
Devesh
I am single, my father owns a pucca house. I am buying a new house under my name, but the lender wants my father to be an applicant and me to be a co-applicant in this new housing loan (Lender says he has to do this because it improves risk profile of loan) . Will I not be able to claim benefit under PMAY just because my father is an applicant in this loan, because all EMI are going to be paid by me as my father has no income.
Basavaraj Tonagatti
Dear Devesh,
Yes, obviously if the house is jointly owned by you both, then you can’t
Umesh Kumar
I have registered a duplex in 2016 and home loan sanction in2017 can l get PMAY Urban under MIG 1
Basavaraj Tonagatti
Dear Umesh,
Take the pain to read above post and for eligibility.
SUDESHNA BHATTACHARJEE
Hi sir,
Me Sudeshna Bhattacharjee and my married elder sister jointly buy a flat in this month . I am the first applicant /holder of the property and this is my first house. There is no pucca house in the name of my elder sister, she has a land in her name. My question is are we eligible for pmay scheme? Please suggest.
Basavaraj Tonagatti
Dear Sudeshna,
Why you went for joint property with your sister?
Akshay
I am unmarried and have purchased the new flat without any female co-applicant in the year 2020.
Will I get the subsidy under PMAY in LIG category ?
Other all conditions for LIG categories like income, carpet area, first home, etc are fulfilled.
Basavaraj Tonagatti
Dear Akshay,
Check in the above post whether co-applicant required or not.
KOUSIK CHATTERJEE
MY FATHER IN LAW HAS A 2 ROOM HOUSE IN HIS NAME. HE DONATE HIS HOUSE, DID “DANPATRA” EQUALLY IN TWO PART IN THE NAME OF MY WIFE AND AND MY SISTER-IN-LAW.MY FATHER-IN-LAW IS LIVING. WHETHER I AND MY WIFE ALONG WITH MY 5 YEAR BABY BOY CAN APPLY FOR PMAY BENEFIT.PLEASE REPLY SOON.
Basavaraj Tonagatti
Dear Kousik,
Once it is gifted, then legally your wife has a property right? In that case, how can you apply?
Vinod
Sir, I am Vinod working as an Assistant Professor in an Engineering College in Bangalore. My parents, me and my wife stay in Bangalore. We don’t have our own house. We used to stay in the rented house only. My CTC is between 4 lakhs to 4.5 lakhs per annum.
Can I buy a flat in Bangalore? If yes, then how can I get the benefit of the scheme?
Basavaraj Tonagatti
Dear Vinod,
Yes, you can. Approach the bank where you are applying for the loan to get the benefits of PMAY.
Binoy Dolui
Sir, I’m a state government employees of West Bengal. Monthly salary 27k. Can I apply for PMAY? If yes, how??
Basavaraj Tonagatti
Dear Binoy,
Yes.
Bhanu
Hello my father is an retired govt employee from last 8 yrs and he gets a pension of 18 k per month. He owned a independent house 3 years back is he eliginble for pmay. Pls suggest
Basavaraj Tonagatti
Dear Bhanu,
NO.
Mayank Sharan
Hello,
I am a 29 year old unmarried man,working in Bangalore. My Parents own houses in their name.However, there is no property under my name. I booked an apartment under my name and there is no Co-applicant.
When I opted for the bank loan my CTC was 6.84 lacs/annum. However it is increased now to 14 lacs/annum. Bank says I still fall under LGW scheme.
Will I be eligible for the PMAY ? I will be highly grateful to you for clearing my doubts.
Basavaraj Tonagatti
Dear Mayank,
Whether other conditions are meeting?
Mayank
Dear Mr Basavaraj,
Yes all the other conditions are matching. I am not too sure about the carpet area but the Superbuilt up area is 1100 sq ft.
Basavaraj Tonagatti
Dear Mayank,
Then check about carpet area too.
Mayank
Yes.. the Carpet area is okay .
Citing the fact that my parents have properties under their name and there is no co applicant, will I be treated as an independent ?
Considering all these, will I be eligible?
Basavaraj Tonagatti
Dear Mayank,
Yes.
Jagadesh
Respected sir., Seen All your reply to comments. Hope you will help with my question also.
I planned to buy resale flat, which owner already taken pmay. Now will i get pmay.. This is my first house
Basavaraj Tonagatti
Dear Jagadesh,
Yes.
Rahman Shah
My father’s owns a property, however myself and my wife do not have property and the share in my father’s property is not yet decided.
Can I will be eligible for getting Land or Flat sponsored by PMAY (Constructed or land allocated by State Government under PMAY scheme). Please advise.
Basavaraj Tonagatti
Dear Rahman,
Refer about post properly.
Vamshi
Hi
I am availing a homeloan for my apartment which comes under LIG category. However due to recent increment my CTC is 6.05lacs will i be eligible for PMAY? Do they consider net salary or CTC
Thanks
Basavaraj Tonagatti
Dear Vamshi,
It is usually net salary.
Dinesh
Hi Sir,
I have applied for PMAY scheme under MIG-2 on August 1st week this year. Is that true that I wont get pmay subsidy if I pay prepayment of some amount now . Do I need to wait until I receive pmay subsidy amount. If that is the case, I believe I need to wait for maybe an year. In sites, they mentioned that they cancel pmay subsidy if I pay prepayment before we receive it.
Please clarify on this
Thanks,
Dinesh
Basavaraj Tonagatti
Dear Dinesh,
I don’t think there are such rules.
Dhiraj
Hi sir,
I applied loan in nov 2019 during which i was under LIG category due to female co application i didnt apply for pmay . Now my income comes under MIG 1 category so can i apply for pmay on my revised income???
Basavaraj Tonagatti
Dear Dhiraj,
Try your luck.
Ashish J
Hi Sir,
I booked a flat in my and my mothers name as co-nominee in 2018 .My mother has already house in her name in our hometown. Now I am married too.
Now my bank is saying that I cannot get PMAY benefit as my mother already had a property in her name .Can we get PMAY benefit as this is our first property and neither I nor my wife have any property in our name.
Basavaraj Tonagatti
Dear Ashish,
I have already replied to your email.
Deepak venkat
Hi Basunivesh,
When you say annual income of MIG2 group slab is Rs.12 lakhs to Rs.18 lakhs, you are referring total gross salary of a year or a net salary of a year.
Because , if it is gross salary then my wife and my income will cross 18 lakhs, so I think I cant apply for it. If it is net salary, then I believe I will be able to apply . When I took the loan recently, the bank guy said that they will consider only net salary. But , I doubt.
Please clarify on this.
Your response will be really appreciated.
Thanks
Deepak
Basavaraj Tonagatti
Dear Deepak,
It is net salary.
Deepak venkat
Thank you very much. I am eligible to apply. But due to covid19, not sure whether Govt will consider PMAY request.
Basavaraj Tonagatti
Dear Deepak,
They will accept it.
Deepak venkat
Good to know. Thanks
srikant ramanujam
Hiii, My home loan has sanctioned in August 2015 and I was single at that time. Now I am married and in MIG 1 category. Can i get benefit of PMAY subsidy scheme now. Please suggest.
Basavaraj Tonagatti
Dear Srikant,
Sadly NO.
Rashmi Avasare
Hi sir, I am unmarried girl living with my family. My annual income is 4.5 lpa.
My dad owns house on his name.
Want to know am I eligible for PMAY if I want to buy house on my name on loan ? If yes then please suggest me how to do it
Basavaraj Tonagatti
Dear Rashmi,
Please check the above eligibility properly.
R Avasare
I’m confused wil you please tell me if I’m eligible or not ?
Basavaraj Tonagatti
Dear Avasare,
Am I not answered?
Rashmi Avasare
It says
An adult earning member (irrespective of marital status) can be treated as a separate household and can avail subsidy independently.
But parents have a house
So will I get it or not
Basavaraj Tonagatti
Dear Rashmi,
Yes, you will.
Rashmi Avasare
Thank you so much.
You cleared my biggest concern and made my new property buying decision a lot easy.
Rashmi Avasare
Will you please tell because I’m confused
Basavaraj Tonagatti
Dear Rashmi,
What confused you?
Suresh Kumar
Hi sir. We bought a home loan by August 2015 but PMAY launched by June 2015. We are not aware about the scheme at that time neither bank informed us. We constructed home. The property is currently under my dad name. So can I apply PMAY now?
Suresh Kumar
We are coming under LIG Category and bought loan for 5lakhs
Basavaraj Tonagatti
Dear Suresh,
Discuss with your bank.
Suresh Kumar
Thanks you Sir I already discuss with our Bank they are saying that after 2017 only they are processing like that they are saying. But I am coming under LIG Category so that it was effective from June 2015 to 2022 is the time line. I am feeling that I am eligible for PMAY. What’s your opinion sir.
Suresh Kumar
Sir, when I check with the bank they are saying that eligible only after disbursement of loan 2017. But I am coming under LIG Category. For LIG Category date which was given is June 2015. However my loan sanctioned after June 2015. I am thinking that I am eligible. What’s your opinion sir
Basavaraj Tonagatti
Dear Suresh,
Yes, they are correct.
Elanchezian
Hi I took a Housing loan with HDFC ltd , and tried to apply PMAY -clss scheme ( my all other conditions are meeting the expectation). But they denied and said that, you are PANCHAYAT (Tamilnadu – Coimbatore – Kurudampalayam) is not listed in Statutory Town and Planning Area Codes in NHB (National Housing Bank). so what i suppose to do now, but other bankers & financial institution are allowing this facility for the same panchayat. Now i am struck please help
Basavaraj Tonagatti
Dear Elanchezian,
Let them give in writing.
Rohit
Sir plz answer this
My income comes under bracket of 3-6lakh but flat which I may buy is 63sqm will I be eligible for any subsidy as there is cap of 60sqm for lig group can I get subsidy under mig group as there more carpet area comes under these scheme but my income comes under lig
Plz plz Anser this correctly sir
Basavaraj Tonagatti
Dear Rohit,
You are eligible for LIG.
Poonam kaushal
I m married and living with my my in- laws in their house..but there is no property on the name of my husband.so can I apply for this scheme…plz reply
Basavaraj Tonagatti
Dear Poonam,
Yes.
Bhargav Kukadiya
Hello Sir,
I am married person and I am registering with me as owner and co owner is my mother. Can I get benefits of PMYA process?
Basavaraj Tonagatti
Dear Bhargav,
Whether all other eligibility are meeting?
Akshay
I and my mother have bought a new flat and have applied for PMAY, for which we are eligible too.
I had a query regarding the declaration form, where they need a picture of full family in front of flat and the building, but my father is not staying with us here, so will they accept a photo of me and my mother(owner and co-owner) as full family?
Basavaraj Tonagatti
Dear Akshay,
Who said PHOTO mandatory?
Akshay
Hdfc bank, they submit on behalf of us
Basavaraj Tonagatti
Dear Akshay,
I am not sure and hearing it first time.
Swaita Choudhury
My Mother In Law and 2 unmarried Brother in-laws want to apply for a joint home loan.
But the bank says that 2 brothers cannot qualify for a household and hence not eligible for PMAY
Basavaraj Tonagatti
Dear Swaita,
Yes, they are correct.
Pradeep kumar
What is the date for calculation of existing plot of land in case of construction? Is there any particular date for this? Suppose a person purchase a land after introduction of pmay scheme and took a loan in 2019 or 2020 for construction, is he eligible to get the pmay subsidy?
Basavaraj Tonagatti
Dear Pradeep,
Yes.
Imran Mansuri
Sir,
I have taken home loan of 7.5 lac from tata capital in july-2017. As per tata capital instruction i have made my mother as a co borrower to get benifit of PMAY. As i was unmarried at that time. After sanction of loan bank refused to procees PMAY. My father own a semi pucca house in joint with his brother& sisters. Do i eligible for PMAY? If not can i change my mother name with my wife name in loan to reapply for subsidy. Kindly guide me.
Basavaraj Tonagatti
Dear Imran,
Try your luck by changing the name from mother to wife.
Imran Mansuri
Sir,
thanks for your reply.
If my father own semi pucca house in joint with his brother & sister. In such scenario also i am not eligible for subsidy?
Basavaraj Tonagatti
Dear Imran,
Yes.
Bharath
HI Sir,
If i apply loan , does the lower interest ( whether 3 % or 4 % ) does start from 1st EMI or will it take effect once the Scheme approved ( like after 4 to 5 months after applying loan) ?
Also, i have taken mortgage loan on my father’s house ( House is in my father name ) does past loan history affect this scheme approval ?? I have cleared the previous mortgage laon
Thanks
Basavaraj Tonagatti
Dear Bharath,
It is not at lower interest. It is a subsidy you get it. Check the difference at first properly. If you are the owner of the property, then you are not eligible for this scheme.
Bharath Bandi
I’m not owner of the property.
When i refer lower interest, will subsidy be applied on ( i mean 3 % interest cap on 12 lakh and normal interest on remaining amount ) when loan is applied ? or will it be applied after some duration of loan when subsidy is approved/verified by Govt ?
Basavaraj Tonagatti
Dear Bharath,
In that case, you can. Regarding the interest, it will not lower your interest. But you will get subsidy.
Bharath Bandi
Thanks for the response.
So, I’ll get subsidy once i apply the loan.
Basavaraj Tonagatti
Dear Bharath,
No now but at the closure timing of the loan.
Bablu Mishra
I am a central govt employ. My salary is 8 lakh yearly. My wife is a housewife she has no income. Can she buy resale LIG flat. Please reply.
Basavaraj Tonagatti
Dear Babu,
I have replied to you through your call.
P Nagemdra
Dear Sir,
my father in law site given to my wife for gift deed ,now I applied home loan for construction, we are applicable PMY was yojana?
Basavaraj Tonagatti
Dear Nagendra,
Whether other eligibilities are meeting?
SHALINDER KOHLI
My father owned a small house of 1bhk which he had registered in the name of his 3 sons before his death. Am I eligible for PMAY as now my parental house is being registered on my and my brothers’ names but it is not practically possible for 3 brothers to live in 1 bhk.
Basavaraj Tonagatti
Dear Shalinder,
NO.
Tilak
Last FY, I had applied for home loan from HDFC Ltd. That time as per bank requirement have submitted Form-16 of 18-19 where gross income was below 6 lac. Now in 19-20 it was +6lac. Am I eligable to apply for the PMAY scheme?
Basavaraj Tonagatti
Dear Tilak,
Yes.
Satish P
Me and my brother jointly purchased site in Bengaluru and construction is almost done. Are we eligible for PMAY seperately?
Both are working in private sector and have gross income around 7.5 lac each.
Basavaraj Tonagatti
Dear Satish,
Check the loan sanctioned date and other eligibility at first.
Kalpana
May I able to apply PMYS now This month (may)
Basavaraj Tonagatti
Dear Kalpana,
Yes, refer my latest post “Who is eligible for Pradhan Mantri Awas Yojana (PMAY) 2020?“.
Paramita
My father bought a 1BHK flat measuring 500 sqft in my name before my marriage. Now my husband has purchased a 2 BHK flat and I am a co owner. Are we eligible for PMAY? If no then what if we sell the 1 BHK and then apply PMAY for 2 BHK? Please advise and suggest. Thanks in advance.
Basavaraj Tonagatti
Dear Paramita,
You are not eligible for PMAY. You mean to say you are ready to sell just because to be eligible for PMAY? Whether you calculated the cost?
Karthikeyan
I’m working in govt bank. In my family no one have own house. We have to build our first home. Can i eligible to apply for PMAY.
Basavaraj Tonagatti
Dear Karthikeyan,
Yes, if other conditions are met.
Mohan
I have purchased a house in 2019 Feb for that I took 29 lac house loan in Andhra Bank. Whether I am eligible for PMAY. if so what should I do
Basavaraj Tonagatti
Dear Mohan,
Yes, approach the bank.
Parmar Manish
Sir, plz advise me
I get benefit pmay(u) scheme , now I take a lone on same house , I eligible for all lone criteria
Basavaraj Tonagatti
Dear Parmar,
PMAY is for the new buyers who do not have any home.
Anup Kumar sharma
Sir,I do not have house in my name in any part of india,as i am residing in a hut near a dam,if you could provide,O would be very muvh thankful.
Basavaraj Tonagatti
Dear Anup,
If the above conditions are meeting, then what is your doubt?
SHILPA
i HAVE A HOUSE IN MY NAME THAT MY FATHER HAS GIVEN ME. NOW I AND MY HUSBAND BROUGHT A NEW HOUSE WITH JOINT OWNERSHIP AND I AM HOUSEWIFE. CAN WE AVAIL THE BENEFIT OF PMRY AWAS SCHEME. PLEASE SUGGEST
Basavaraj Tonagatti
Dear Shilpa,
NO.
Abraham
Sir
The Court As Ordered the Builder To Repay Our Money Back.
Basavaraj Tonagatti
Dear Abraham,
That’s the great news.
Abraham
Sir Now Are We Eligible For PMYO Scheme If we Buy A House.
Basavaraj Tonagatti
Dear Abraham,
I hope so.
Rashi
Hi, want to know the maximum age limit for registration.
Basavaraj Tonagatti
Dear Rashi,
As per my knowledge, there is no such maximum age. The maximum age is with the banks who lend you.
Vara
I have taken home loan. I am married women. My husband is not working. Can I apply for PMAY?
Basavaraj Tonagatti
Dear Vara,
Yes, if other conditions are meeting.
Abraham
Dear Sir,
We Had Purchased A home in the year 2013 which is under Dispute .. Till Date We Have not Got the possession of that Flat.
If We Buy Another House Are We eligible For PM YO Scheme ,
Kindly Suggest.
Basavaraj Tonagatti
Dear Abraham,
NO.
Abraham
Sir
At That Time The PM YO Scheme Was Not Applicable. Also we have flied a case against the Builder in RERA Court
Basavaraj Tonagatti
Dear Abraham,
Then wait for the court order.
Yakshya
I am an employee of national insurance and received loan from national insurance at discounted interest rates. But national insurance is not providing benefit though I am eligible for the scheme. Please guide.
Basavaraj Tonagatti
Dear Yakshya,
Why not you complain?
Iqbal khan
Hello sr I have income 50000 per year and I have a semi pucha house in bhopal MP And I want to renovation my house to pucha house can I eligible for PMAY If yes then how?pls help me .
Basavaraj Tonagatti
Dear Iqbal,
NO.
Sudheer Kumar
Is PMAY applicable to bank staff housing loan??
Income is considered after all deduction or gross for consideration of family income ?
Basavaraj Tonagatti
Dear Sudheer,
Yes.
Kathir
Sir, Whether PMAY scheme is eliglible for village panchayats or not??? If it is yes… Then how to find identify our village is included or not??? Please reply sir
Basavaraj Tonagatti
Dear Kathir,
Yes, and check with local Panchayat for the same.
Mahesh sarode
I have purchased flat and my income group is LIG but my loan tenure is 15 years , so can you please confirm whether I will be eligible for PMAY subsidy or not. Female co applicant is there while applying for this.
Basavaraj Tonagatti
Dear Mahesh,
Check your eligibility by referring above post.
Narayanaswamy
Respected Basavaraj,
Warm Greetings from NARAYANASWAMY, KOLAR Karnataka,
I introduced myself I am Dr NARAYANASWAMY from ADRES organisation, I worked as a Social Worker since 1986 But till Date we don’t have own house so we want to get benefit from PMAY through your advice please give me guidence how to get the benefit Sir,Now we Settle in Mulbagal Town Kolar District Karnataka we have 20*30 free site in Mulbagal Town sir.
Thanking you
Your Faithfully
Narayanaswamy
Contact Mobile with watsap Number 8073565186
Basavaraj Tonagatti
Dear Narayanaswamy,
First approach the bank with relevant documents to check eligibility.
Krishna
I own a empty plot (sale deed on my name) and I have purchased a affordable flat and availed home loan from ICICI Bank. I am unmarried also I have filled PMAY subsidy form. Am I eligible for subsidy or it will get rejected.
Basavaraj Tonagatti
Dear Krishna,
I think NO.
Bindu Sudevan
I am Govt. servant, I owned a pacca house, can my husband purchase a house MIG in his name, his income is below 5 lakh. Reply please.
Basavaraj Tonagatti
Dear Bindu,
NO.
Manohar
Sir I have taken a loan on December 2017 in DHFL but now it was shifted to icici..now m.im unmarried men.i have registration on my name only. I don’t have any co-owner to my property.i didn’t put my mother name because bank doesn’t accept for co-owner by some reasons.am I eligible for pmay or not sir..my family annual income is 5 lakhs only.
Basavaraj Tonagatti
Dear Manohar,
Read the above post again.
Balasaheb Gite
Hi Sir,
I have purchased one under construction flat so i am eligible for PMAY scheme. And we will get possion on 2022. Please sir reply me urgent.
Basavaraj Tonagatti
Dear Balasaheb,
Refer other conditions before judging.
Balasaheb Gite
Thanks Sir:)
J. subramanyam
I J. subramanyam my sister & her husband jointly purchesed one flat on 15/04/2018. there income 31000 pm
so they are eligible or not eligible. Is there any time to apply PMAY subsidy
Basavaraj Tonagatti
Dear Subramanyam,
They are eligible if other eligibility criteria are OK.
Sumana
Hi,
An under construction property has been purchased in my name (first property) and my annual income is less than 18 Lakhs. But it has been rejected citing the reason that entire household annual income should be less than 18Lakhs and that i should submit proof for the same. Is this valid? Can you please clarify
Basavaraj Tonagatti
Dear Sumana,
Yes.
Sastry
Good morning sir,
I own a pucca house and there is no loan on that (loan closed) and am salaried with a gross annual salary of approximately 16 lakhs. My wife is a home maker and has savings of about 2.5 lakhs with her. She intends to purchase a small flat in the outskirts of hyderabad that will cost about 25 lakhs (actual all inclusive value). I will be the co-owner and repay the housing loan emi over and above the rent she receives. Is it legally correct for me to claim exemption from interest and show the rental income in my wife’s account (She will still not be taxable as the rent expected is less than 10000 per month)? Please reply as soon as convenient.
Regards
Basavaraj Tonagatti
Dear Sastry,
The tax benefits and income should be as per the % of ownership.
Vishnu
I had purchased my first home taking loan from PNB housing finance limited for 28 lakhs (I was forced to take insurance of 1 lakh which was included in the loan). They did not process my PMAY documentation and now they are charging 9.75 % of interest. Earlier I did not know that PNBHFL is not part of the bank hence they charge more interest. My home dimension is 138 yards and the loan tenure is 35 years. I am now planning to transfer the loan to SBI. I have a few question.
Can I now apply for PMAY in SBI post the loan transfer? or Will the scheme stand void post transfer to SBI
Will the insurance be still applicable?
and a generic question… upon the preclosure, will the bank charge the PMAY scheme amount they offer initially?
Basavaraj Tonagatti
Dear Vishnu,
Yes, you can apply. I am not sure which Insurance you are talking.
Madhu
Hello Sir, I have taken a loan in 2017 from LIC HFL. I have gone through your post and want to know what does validity date means. Can I avail for PMAY yojana now? Kindly reply
Basavaraj Tonagatti
Dear Madhu,
Check the PMAY implementation date once again.
Viral
I have purchases in my and my mother’s name. Am i eligible for subsidy? My parents already ha e their own home. I am self earning member.
Basavaraj Tonagatti
Dear Viral,
No.
Amita
I have purchased Home and now want to apply for PMAY subsidy. As unmarried I want to add my mother name as co-owner, so that i can apply for the subsidy.
My question is my unmarried brother also want to purchase a Home with my mother name as co-owner.
In this case can we both get subsidy or the person who apply first only get benefit?
Thanks in advance.
Basavaraj Tonagatti
Dear Amita,
Only one person is eligible for a subsidy.
Amita
Thanks for quick reply.
Bijayant Jha
Hi,
I have booked a flat on my mother(She is homemaker) name, me and my brother are co-borrower (because we are earning member) on this flat. I am married but my brother is not married. No one in my family member have bought any house in their name. this is our first house.
so are we eligible to get PMAY scheme.
Thanks
Basavaraj Tonagatti
Dear Bijayant,
I don’t think so.
HARIKUMAR
I AM HARIKUMAR, I AM UNMARRIED, MY INCOME IS MONTHLY THIRTY FIVE THOUSAND, I GOT HOME LOAN FROM LIC HFL FOR LAND PURCHASE ON APRIL 2017 AND CONSTRUCTION OF HOUSE 2019 DECEMBER, WHETHER , I AM ELIGIBLE FOR PMAY- SCHEME OR NOT PLEASE CLARIFY
Basavaraj Tonagatti
Dear Harikumar,
Whether you read above post properly?
Arvind
Is a retired pensioner of 62 years old eligible for this loan if she has no other property in her name. Annual pension income in INR 300000.
Basavaraj Tonagatti
Dear Arvind,
I doubt.
Trupti
I am a unmarried working woman and i want to purchase a new house. As half of my funding will be from bank loan and other half my mother will give me from the flat she sold.
My question is if i take my mother as co-owner then will i get subsidy ?
Or i have to buy in my name only ?
Basavaraj Tonagatti
Dear Trupti,
Whether your parents own the property?
Trupti
She is selling the old property and investing in a new property with me
Basavaraj Tonagatti
Dear Trupti,
Then I think YES.
Machindra shesherao Rathod
Respected sir / madam,
I’m machindra Rathod want to purchase house in grampachayat area. But this plot is not NA.
Is this property eligible for Pradhan mantri avas Yojana scheme.
Please reply
Thanks & regards
Machindra Rathod
Basavaraj Tonagatti
Dear Machindra,
I think no.
RAMESH KUMAR
HOW TO TRACK PMAY APPLICATION/ DECLARATION SUBMITTED AT HDFC HOME LOAN.
THEY DONT GIVE ANY TRACKING NO.
Basavaraj Tonagatti
Dear Ramesh,
Check with bank itself.
SURESH PODDAR
is mother and married son taking joint loan can avail pmay subsidy. if other criteria full filled
Basavaraj Tonagatti
Dear Suresh,
But why mother?
suresh poddar
to enhance loan eligibility , wife has no income.
to enhance loan eligibility bank suggest this and Loan executive also tell u will be eligible for PMAY, But to be sure i raised query
Sandhya
Hi sir
I am a married 27 yrs old woman and me and my husband dnt have any property, now we booked a villa in my name. But while we aaplied for loan with bank they advised to club some one income to reach the final eligibility, as me and my husband hav only 11 lac annual income. So we can nt apply for higher amount. Please advise if we wud club our father in law income to take a loan, are we eligible for subsidy under pmay scheme or not? Other wise we wud have to take smaller size or property to take loan.
Basavaraj Tonagatti
Dear Sandhya,
I think I have replied to your email.
sachin
Hello sir, I have subsidy related issue please advise. I bought a LIG flat and loan running on it.
condition :
1) There is no female member available in my family and i am a unmarried person .
2) I am an individual earning member and this is my first house .so this may be considered as a separate household”.
Should i eligible for subsidy .please advice.
Basavaraj Tonagatti
Dear Sachin,
Check the eligibility at first as per your income and then other stuffs as mentioned above.
preeti
Hello Sir,
I have bought a house in Sept 2017 taking the joint loan with my mother. I am the sole owner of the new house and this is my first buy.
In this case my mother already owned one house in her name. Can i still avail the subsidy benefit under AWAS yojana as the property is registered solely under my name and it is my first house. Kindly advice.
Basavaraj Tonagatti
Dear Preeti,
But loan is jointly where your mother is already owning a property right?
preeti
Thanks for your reply.
Yes, She does. So in this case i believe i am not eligible to take this benefit. Correct?
Basavaraj Tonagatti
Dear Preeti,
Yes.
Sunil
Hello,
I am married person.
On my name there is no any property.
My annual Package is more than 6 LPA.
My query is i don ‘t want to make my wife as Co-owner due to she has already loan on her name.
In this case is i am eligible for PM subsidy ?
Basavaraj Tonagatti
Dear Sunil,
Cross check above eligibility at first.
Azhar Khan
hello sir,
My query is my father own a pucca house in his name in a unauthorized colony(Delhi) & i am living with my parents and i am married.
my annual salary is below 3 lac p.a. I want to apply for PMAY under EWS category.
Am i eligible for applying?
Basavaraj Tonagatti
Dear Azhar,
I think NO.
Ravindra Deshmukh
Hi Sir,
I am Ravindra from other city, since 5 years I stay in Other city, and I am salaried employ. I do not own any property on my name and do not stay with my parents but my Mother owns a flat on her name, so am I applicable for PMAY scheme
Basavaraj Tonagatti
Dear Ravindra,
Refer above post once again.
Subhash Chand
My daughter in-law is applicant of house & I am co applicant in that I have 80 sq.yards Lucca house in village.Is she eligible for subsidy
Basavaraj Tonagatti
Dear Subhash,
NO.
A.KUMAR
IS MOTHER (EARNING FAMILY PENSION) AND MARRIED SON , LOAN TAKEN IN 2019, NOT HAVE ANY PUCCA HOUSE .
IS ELIGIBLE FOR PMAY SUBSIDY?
A.KUMAR
OTHER INFO.
MOTHER AND SON IS CO-APPLICANT AND CO-OWNER
INCOME AND CARPET AREA MATCHING
Basavaraj Tonagatti
Dear Kumar,
Yes.
A.KUMAR
thanks for reply.
Actually i was confused about the definition of family.
Here, family means husband, wife, unmarried sons and/or unmarried daughters.
In case my mother is also included along with wife and daughter
Basavaraj Tonagatti
Dear Kumar,
You and your mother fall under this right?
A.KUMAR
As Per above definition of family, me, my wife and daughters should be family
but i took loan with my mother as co-applicant and my mother is also co-owner in property
Basavaraj Tonagatti
Dear Kumar,
Then how should you be eligible?
Name *A.Shanthi bhushan
Sir
I purchased a house on January 2015……Can i eligible for PMAY
Basavaraj Tonagatti
Dear Shanthi Bhushan,
NO.
Chandrasekhar behara
Can 2 siblings (married) apply for a play loan. They r ready to add spouses names also
Basavaraj Tonagatti
Dear Chandrasekhar,
No.
Ajinkya Ranwalkar
Unmarried women can apply? if his father owns house, if yes then can she put his father name in PMAY registration details.
Basavaraj Tonagatti
Dear Ajinkya,
As per my knowledge, NO.
Jaswant Singh
Due to cornovirus issue,is there any update on extension of last date 31.03.2020 for MIG-1 Class.As my housing bank is closed presently I am not able to apply offline.For applying online it is showing income group greater than 50000 should apply offline.My salary is 45000 and wife salary is 33000 can we still apply online on behalf of my salary which is less than 50000.
Basavaraj Tonagatti
Dear Jaswant,
Can you share the Govt notification in this regard of extension?
Jaswant Singh
Sir I didn’t get any notification for extension of date yet.what you are expecting should the date will be extent further.
Basavaraj Tonagatti
Dear Jaswant,
If you have not received any extension notification, then you have to assume that it is closed.
Sunil singh
Is it possible to consider Unmarried sister in PMAY scheme as secondary applicant ?
Basavaraj Tonagatti
Dear Sunil,
No.
Shravan
The home loan is sanctioned in August month financial year 2019-20 and we submitted pay slips of April May June July payslips and form 16 of previous two years while applying for home loan.
Is annual income of the previous financial year ( i.e. 2018-19)is considered for income eligibility to claim subsidy under Mig 11 category or the present financial year( 2019-20)?
Basavaraj Tonagatti
Dear Shravan,
It is as per me immediate previous financial year income.
Mounica
We are married couple and both are working. In August 2019, we purchased our first house by availing joint home loan in SBI
Our total gross income is 18.7 lakhs and net income is very much less than 18 lakhs together
My query is to get subsidy under MIG 11 category, is net taxable income is considered or gross income?
We reached SBI bank to apply for the scheme but they simply rejected by saying your total gross together is above 18 lakhs but we met every other conditions required.
Kindly suggest what to do next in order to avail?
Is there any clause defining the annual income of the household for MIG-11 category for salaried borrowers?
Basavaraj Tonagatti
Dear Mounica,
It is net taxable income for consideration (as per me).
Rajesh
Sir,
I have a house in Delhi in non-registered colony in my name. Am I eligible for PMAY if I buy a DDA property and take home loan for it.
Basavaraj Tonagatti
Dear Rajesh,
Check with DDA.
Virendra
Hi sir,
1. Am i eligible for subsidy as i am unmarried and want to make co-applicant to my mom and dad and this is our first home construction on my name pre owned plot and annual income is 3 to 6 lac include father’s income?
2. And plot size is 88.88 sqyd. So question is that in LIG this plot size considerable?
Basavaraj Tonagatti
Dear Virendra,
1) Yes, if they are also not owning the property.
sagar
hi i am an unmarried person and i booked a flat in Ahmadabad. This is my first property
i started loan in Axis bank and my mother is loan guarantor. can i receive 2.67L benefit in PMAY..?
Basavaraj Tonagatti
Dear Sagar,
Yes, if other conditions are fulfilled.
sagar
which other conditions..?
Ram
HI,
I have constructed my house in Gram Panchayat(2019) – my PMAY application rejected bcz my house located in Gram Panchayat !!
Is it true – PMAY not eligible for the village panchayat location as per Norms?
with regards,
Ram.
Basavaraj Tonagatti
Dear Ram,
I don’t think so. Cross check with your bank.
Virendra
Go through pmay rural scheme..
Raj
I had one property which I have sold. As on date, I have no property. Am I eligible for PMAY?
Basavaraj Tonagatti
Dear Raj,
Yes.
harbhajan Singh
Dear Raj, Myself Harbhajan and please some queries related home loan subsidy. Pl. send your Mobile No.
Basavaraj Tonagatti
Dear Harbhajan,
Please share your doubts here. If you feel uncomfortable to share in such public platform, then you can email me.
Abhi
Hello,
Could you please let me know what is “Annual Income” is it the gross amount mentioned in your offer letter which has PF and other perks or its what you get monthly.
Suppose your Fixed annual salary is 18 lacs and including PF and Medical Insurance benefit its around 21 lacs. Will it make the person eligible to apply for PMAY if only Fixed annual salary is considered
Basavaraj Tonagatti
Dear Abhi,
It is your net taxable income.
Rachit
Hi,
My four quarter income showing 18.13L in Form16 this year and that includes section 17(2), so I would be eligible for PMAY?
Basavaraj Tonagatti
Dear Rachit,
It is total income that matters but not gross.
Nischal Swain
Can a government women employee eligible for this pmay scheme??
Basavaraj Tonagatti
Dear Nishchal,
Whether she actually need it?
deosing
hi sir
what is validity date in this chart
deosing
Basavaraj Tonagatti
Dear Deosing,
There is nothing like validity.
Chandru
Hi Basawaraj,
12-18lac is CTC or taxable income ??
If I am earning more than 18lac & we purchase house in my spouse name and her salary is less than 5lac will she be eligible for PMAY?
Basavaraj Tonagatti
Dear Chandru,
It is taxable income to be considered. Regarding your second question, the answer is YES.
vivek
Hello Sirji,
I have taken Loan in April 2016 , At that time my annual income was over 6 lakhs , Can I apply to pmay , if yes how ? I spoke to bank and they said no, my income at the approval date should be below 6 lakhs
Basavaraj Tonagatti
Dear Vivek,
Sadly you can’t
rahul yadav
yes you can definately apply. rejection of proposal in case of annual income arise only when it is below 3 lakhs.
Basavaraj Tonagatti
Dear Rahul,
Income is not a sole eligibility.
Iranna
Hi Sir,
I have taken land 20/30 on my name ,the land is not NA it’s Akram sakram ..I am eligible to get PMAY??
Basavaraj Tonagatti
Dear Iranna,
I think NO.
Rajesh
Dear Sir,
I have an annual income of 2lacks only, I don’t have house
I’m staying in a rented house
How this scheme helps me to get benefited?
Basavaraj Tonagatti
Dear Rajesh,
Refer above post related to the features.
Vicky
Hi Sir,
Last year i took a Home Loan of 29.00 Lakh from HDFC Under Subvention Plan (i have not paid any EMI till now)
I also got PMAY subsidy of 2.35 Lakh. Now I want to close this Home loan by paying balance 26.65 Lakh, but bank says that i have to continue the loan for minimum 15/20 years (Original loan tenure 20 years) else PMAY subsidy will be reversed.
is this true ? do i have to return Subsidy Amt 2.35 Lakh if i close my Home loan at this point of time ? Please reply.
Basavaraj Tonagatti
Dear Vicky,
I THINK it is true.
rajeev yadav
Dear Sir,
I have taken a loan in nov.-2015, Can i apply for PMAY?
Please reply….
Basavaraj Tonagatti
Dear Rajeev,
NO.
Afzal Ali
Hi sir, We purchased a flat in the name of my spouse. My Annual income is 2 lack only can i eligible loan for built a house.
Basavaraj Tonagatti
Dear Afzal,
Check with the bank about the eligibility of loan.
Pankaj singh
Hello sir, I have taken loan in the year 2016. Where my mother is co- owner. My annual income is 9.5 lacs p.a. . I am married guy pls let me know weather I will get Pmy subsidy
Basavaraj Tonagatti
Dear Pankaj,
NO.
Pankaj singh
Can u give me reason sir… I read somewhere an adult earning person is treated as separate family… and class Mig1 is not applicable here or what… or loan date is older…
Basavaraj Tonagatti
Dear Pankaj,
Loan date is very much important.
suneel kumar
please can you send me the link..that where should i fill the form and where i get the information..please if you have any toll free numbers please send me
Basavaraj Tonagatti
Dear Suneel,
Contact your banker.
RJ
Dear Basavaraj,
We are a married couple and we don’t own any house in our name. We are planning to buy a new house now and we both are earning. My annual CTC is 16L and my spouse’s 3.18L.
I am planning to get loan only in my name and the house will be registered to my name and my spouse will NOT be a co-applicant. Since our combined income is above 18L,
Am I eligible for PMAY (MIG-2)? Please explain.
From your post:
“In case of a married couple, *either of the spouses* or both together in joint ownership will be eligible for a single house subject to income eligibility of the household under the scheme.”
Thanks.
Regards,
RJ
Basavaraj Tonagatti
Dear RJ,
Yes, if other conditions are OK.
Shree
Dear Sir,
I have a house in my village which is a gram panchayat, I am planning to purchase a house in city,will I be able to get PMAY scheme benefit.
Please let me know.
Basavaraj Tonagatti
Dear Shree,
Sadly NO.
Sharad
Dear Sir,
My registration of flat in new construction is done on 26may 2015 but loan agreement with the lender is done on 26 aug 2015, M I eligible for PMAY?
Basavaraj Tonagatti
Dear Sharad,
Sadly NO.
ARUP
DEAR SIR,I PUCHASE A 315 SQFT FLAT AT KOLKATA .LOAN SANCTION DATE FEBRUARY-2015. BUT MY OWN HOME IN URBAN AREA PASCHIM MEDINIPUR. CAN HELP ME ANY OTHER PROCIDURE TO GATE PMAY SUBCIDY.
BECAUSE MY INCOME YEARLY LESS THEN 2 LAC. PLEASE SUGGEST IF ANY CHANCES TO GATE SUBSIDY
Basavaraj Tonagatti
Dear Arup,
Sadly NO.
PRABHU
Dear Sir,
I have taken a loan in July-2018, Can i apply for PMAY? Loan tenure is 10yrs.
Please reply….
Basavaraj Tonagatti
Dear Prabhu,
Yes, if other conditions are meeting.
Jaffar
Hi Sir,
I am purchasing a resale flat of 943 sft, for 42 lakhs. I have applied for bank loan 30 lakhs. My current CTC is around 13 lakhs (If I remove non taxable amount such as PF,HRA, it will be around 9 lakhs). Please let me know to which category am I eligible? My Questions are 1. my income is more than 6 lakhs but area of flat is 943 sft. So, is it mandatory to meet area condition?
2. What do they consider as total income , CTC or just non-taxable amount?
3. How much amount will I get? If I qualify all other conditions.
Please reply.. thanks
Basavaraj Tonagatti
Dear Jaffer,
1) YES.
2) It depends on many things. Check with your banker.
Gaurav
Hii Sir
I have taken loan for construction of my house in Jul 2014. Will I be eligible for PMAY ?(provided I m fulfilling other criteria)
Gaurav
Basavaraj Tonagatti
Dear Gaurav,
NO.
Chander
Hello sir,
My gross income is 15lakh and wife’s is 5 lakh. I wish to avail clss fo self only. Will my household income be considered 15lakh(only my income) or 20lakh (income of both). Kindly clear, Thanks.
Basavaraj Tonagatti
Dear Chander,
It is your income ONLY considered. However, check the other eligibility conditions.
srikanth
bankers are not interested to give a support of eligible private employees for Economically Weaker Section scheme under PMAY. PM sir why are u started this schemes, this is not use for pvt peoples, sir pls focus on bankers, who can avoid this scheme & why.
Basavaraj Tonagatti
Dear Srikanth,
Better you tweet to PMO.
Nitin
Dear Sir,
I have taken a loan in July-2016, Can i apply for PMAY? Loan tenure is 25yrs.
Please reply….
Basavaraj Tonagatti
Dear Nitin,
Sadly NO.
majeed
may i know the validity period of MIG -11
Basavaraj Tonagatti
Dear Majeed,
validity period for?
Ratilal jatapara
In PMAY, for the LIG category, the carpet area limit is 60 sq.m. But if I belong to the LIG group and want to buy a flat with the carpet area of 100 sq.m, will I get a subsidy?
Basavaraj Tonagatti
Dear Ratilal,
Sadly NO.
Ratilal jatapara
Please sir Read it carefully
Then suggest me am i eligible or not
Thank you
Credit Linked Subsidy Scheme for EWS/LIG
Beneficiaries of Economically Weaker section (EWS) and Low Income Group (LIG) seeking housing loans from Banks, Housing Finance Companies and other such institutions would be eligible for an interest subsidy at the rate of 6.5% for a tenure of 20* years or during tenure of loan whichever is lower.
The credit linked subsidy will be available only for loan amounts upto Rs 6 lakhs and additional loans beyond Rs. 6 lakhs, if any, will be at nonsubsidized rate. Credit linked subsidy would be available for housing loans availed for new construction and addition of rooms, kitchen, toilet etc. to existing dwellings as incremental housing. The carpet area of houses being constructed under this component of the mission should be upto 30 square metres and 60 square metres for EWS and LIG, respectively in order to avail of this credit linked subsidy. The beneficiary, at his/her discretion, can build a house of larger area but interest subvention would be limited to first Rs. 6 lakh only.
Dipankar Roy
Hello sir I have owned a flat and took loan in September 2015 from SBI. Sir I am falling under LIG. my all criteria are fulfilling only one thing is creating problem for subsidy is the ownership of the flat. Bank has told me that female ownership is must for subsidy..whereas in the same category for construction of house it is not mandatory. Sir please clarify why so. Is there any possibility to get the subsidy for a flat under LIG category without female ownership. If no then what are the alternatives please guide sir. I am very needy sir you are my last hope. Thank you sir.
Basavaraj Tonagatti
Dear Dipankar,
You are not eligible as you are the owner since 2015.
Pritam
Sir, I have purchased a resale 3 BHK flat. My loan is amt is 10 Lac taken for 15 years, registered in name of my wife. My annual salary is below 4.50. Can i avail this PMAY Scheme.
Basavaraj Tonagatti
Dear Pritam,
I think yes.
Ravi
Hello Sir,
I am falling in MIG 2 category.
I am constructing my home on land which is owned by my mother. My mother already own one house. Please tell if I can apply for MIG 2 category as non out of me and my wife own any house on our name.
Regards
Ravi
Basavaraj Tonagatti
Dear Ravi,
The property is not in your name, then how can a banker will allow a loan in your name?
manish singhal
Dear sir i want loan for home construction . my income is below 3 LAc and carprate area is 540 Squre feet . in my plot registery not have female ownership . can i am eligible for subsidy.
Basavaraj Tonagatti
Dear Manish,
Yes.
Jaiprakash Sharma
Hello Sir, I have sanctioned loan against a property in 2013 but builder couldn’t given possession till date. Now I have applied for loan against other property, can I eligible for subsidy in PMAY
Basavaraj Tonagatti
Dear Jaiprakash,
I think NO.
Suraj
Hi Sir,
My property agreement was done on march 2018 and I was unmarried then. So I added my mother as co-owner of the property. Now I’m married. But in my loan application, my mother is co-applicant.
My father has house and I’m first time home buyer.
Now, what should I do? Remove my mother from property agreement and include my wife (Which is not ethical obviously :))? And same for loan?
Note: Wife is not earning…I’m only earning member.
Or any other way to avail PMAY?
Or just include my wife name along with mother in property agreement will be okay?
Basavaraj Tonagatti
Dear Suraj,
Removing co-applicant to loan is not only a solution but you have to remover her as co-owner also. Then you have to add your wife.
Sulekha shrivastava
The name of my husband is given in ancestral non sailable land of Jharkhand state. May I eligible for such scheme in urban area?
Basavaraj Tonagatti
Dear Sulekha,
If your husband is owning a house, then you are NOT eligible for PMAY.
ash
I have taken loan of 6 lac from sbi to construct home , am I eligible for pmay
Basavaraj Tonagatti
Dear Ash,
Please read once again the eligibility conditions.
Raghu
Hi Sir,
I have one own house , I am planning to buy one more house for my mother she didn’t have any home nor his husband( ie my father) I’ll be co applicant for new house. I fall under MIG 2 , are we eligible for getting PMAY subsidy
Basavaraj Tonagatti
Dear Raghu,
NO.
Anushree Zedek
I HAVE A AGRICULTURE LAND IN MY NAME AND NOTHING ELSE, DO I GET BENIFIT OF PMAY?
Basavaraj Tonagatti
Dear Anushree,
Do other conditions fulfil?
Maha
Hi sir,
Is this scheme applicable for already built home?
Basavaraj Tonagatti
Dear Maha,
NO.
Seeths
Sir i have applied for housing loan from lic in my name i.e only by considering my income ..it is an ready to move property only but lic person suggested to apply loan like 1st buying land and doing construction on that land.when i enquired about pmay they are teling that iam not eligible for int subsidy benefit..kindly advice is iam eligible or not ..my annual income is 11 lakhs
Basavaraj Tonagatti
Dear Seeths,
What reason they told?
Anand
“Special loan offers of banks like SBI MaxGain will not be eligible for this scheme.”
I guess this needs citation. I have seen people having SBI MAXGain loan, are beneficiary of the PMAY.
Basavaraj Tonagatti
Dear Anand,
This is written based on the Government notification. However, let me check and update the same.
Dr vikash katariya
Hello sir.plz provide new rules of pmay for year 2019.any amedment is there?
Basavaraj Tonagatti
Dear Dr.Vikash,
The rules mentioned above are relevant now also.
Atul
Could guide me for these questions: –
1) Property me wife ka naam jaroori hai kya?, agar koi married man apne naam par loan lekar ghar kharide to subsidy nahi le sakta?
2) JIske paas refrigerator hai usko loan subsidy nahi milegi ? (ye rejection excuse maine ek article me pada tha)
3) Subsidy ke liye kab apply karna hai, Loan apply karte waqt or jab loan le chuke ho? or registry ke waqt?
4) Is Yojna me loan dene wala bank hamara naam PMAY me apply karega or hum apna naam Yojana me khud apply karke bank ko inform kare.
5) Agar loan freehold property par liya ho to hum PMAY me apply kar sakte hai?
Mai apne baare me apko bata du, mai ek private job karta hu, meri
annual salary 3 lakh se 6 lakh ke bich hai, aur ek ghar kharine ja raha hu,
jo ki (45 gaj) freehold property par bana hai, isse “GIC housing”
dwara loan provide hai, mai married hu aur mere naam par koi property
nahi hai, to kya mai PMAY ke liye mai eligibla hu?
Basavaraj Tonagatti
Dear Atul,
1) Refer above post for the eligibility once again.
2) I don’t about this SPECIAL case.
3) At the time of loan availing.
4) Banks will do that.
5) Yes.
Atul
Thanks for guiding me….. Last question still pending…. about my self…..
Is am i eligible for PMAY….?
because bank did not give any commitment for this.
Basavaraj Tonagatti
Dear Atul,
It again depends on lot of conditions mentioned in the above post. Hence, cross-check all features and decide. I can’t judge with your half sharing.
ravindra
Hii sir,
I am from Karnataka proper but i am working in Maharashtra pune from 9 year, my adhar card is Karnataka.
So can we eligible for Mhada schem?
Basavaraj Tonagatti
Dear Ravindra,
Your stay does not matter.
Rohit
Hi sir,
I am taking a property under joint ownership with my wife and our net taxable income is more than 18lakhs combined but not individually.
Is it possible to claim pmay subsidy under MIG-II category considering income of only 1 person.
Basavaraj Tonagatti
Dear Rohit,
I don’t think so as it is a joint property, both of your income should be considered.
Ashish
Hi Basavaraj
If a family income is more than 18.
And if they are buying a house only on husband or wife name.(as individual they are earning less than 18)
Then they will be eligible for pradhan mantri awas yojna or not?
Basavaraj Tonagatti
Dear Ashish,
The income of the buyer is under consideration not the family.
Roshan
hi Sir, I’m also in this scenario, are you sure that income of the person is considered and not the family. In the case where the property is registered on husband/wife name and they apply for pmay and it falls less than 18L.
Basavaraj Tonagatti
Dear Roshan,
If the property is jointly owned, then both holders income should be considered.
chetan sheth
Dear
if carpet area and income not match so which category are eligible for pmay, which is lower or which is higher
Basavaraj Tonagatti
Dear Chetan,
It has to match better if lower but not beyond maximum limit.
Veerendra
Hi Basavaraj,
I read your article it is very useful. So far I didn`t find such a detailed article on PMAY.
I’m married and my wife is also working. We are planning to buy our FIRST home jointly with home loan (will apply Rs. 45L loan in Apr/May – 2019).
Both of us CTC for F.Y 2018-19 was Rs.21.65L (before applying Rs. 306K HRA deduction and standered deduction of Rs.80K – for both) but if we apply the said deductions our annual income would be Rs.17.78L.
Now my banker is asking our payslips not ITR, our Mar`19 payslips were showing Rs.20.85L as annual income since we haven`t submitted our rental expenses (HRA benifit).
For F.Y 2019-20, CTC for both us will be Rs.22.6L. As you mentioned in your article (“Total deduction from Gross income, including proposed EMI on Home Loan”) can we claim proposed EMI as deduction u/s 24 of IT act, 1961 from our CTC ?
If we can claim proposed EMI as deduction (Rs.2L each) and standered deduction (Rs.40K each) our annual income would be Rs.17.8L.
Except above we are meeting all conditions in MIG-II.
My questions are:
1. Which financial year income will be considerd in PMAY scheme ? (I am apllying loan in F.Y 2019-20)
2. Since my FORM 16 for F.Y 2018-19 is not available, can ITR be the proof of Annaul Financial Income ?
3. Are we eligible for PMAY scheme ?
Basavaraj Tonagatti
Dear Virendra,
How can you claim for IT deduction on PROPOSED EMI?
1) The immediate last year income.
2) YES.
3) It again depends on other criteria mentioned in above post.
Ankit
I also had a similar query.
My taxable income is less than 18lpa, but not my gross income.
All other criterias meet.
Am i eligible for PMAY?
Basavaraj Tonagatti
Dear Ankit,
Yes.
Ankit S
HI Basavaraj ,
Can you please help me understand the “Annual Income” term, Based on Form-16, does it mean the Gross Salary( Includes HRA and other Tax free components as well) or Gross Total Income ( after deducting “Amount exempt u/s 10” and Professional Tax )
Basavaraj Tonagatti
Dear Ankit,
As per my knowledge, it is Gross Total Income.
Anupama
I already own a home in my name and now my husband wants to buy a property in his name, first time. He is not a co-owner in my property. Will he be eligible for PMAY ?
Basavaraj Tonagatti
Dear Anupama,
Whether you checked the other eligibility conditions?
Ramesh dyapa
Hi sir, I have buyed a flat in march-2016 and my mother is the co-applicant my loan was for 10lakhs at DHFL, also my income is 3.7lakhs per annum am I eligible for the PMAY, I applied for it but no reply.iam from hyderabad.
Basavaraj Tonagatti
Dear Ramesh,
Check the eligibility year at first.
Ankit
Hi Basavaraj,
You mention this facility is not available on SBI Maxgain.
But the sbi site (https://homeloans.sbi/pmay)
mentions a point
* Home Loan under this scheme will be available by way of Term loan and Maxgain (for loan limits of Rs. 20 lakh and above) with a maximum tenor of 30 years. However, subsidy is available for a maximum tenor of 20 years only.*
Please clarify, what is correct.
Thanks in Advance.
Basavaraj Tonagatti
Dear Ankit,
Thanks for your sharing. If they are claiming that MaxGain is eligible, then go ahead.
ritesh
Hi,
I am ritesh
my loan amount is 40 lack & for 30 year with SBI Maxgain.
can we use benefits of Prdhan Mantry awas yojna.
Basavaraj Tonagatti
Dear Ritesh,
Whether other criteria are meeting?
Reshm Gawade
Hi, my husband sold own house and buy new house and take home loan also of Rs. 6 lakh. so we can eligible for PMAY???
Basavaraj Tonagatti
Dear Reshm,
As per my knowledge, I think NO as he is not a first time buyer.
sushant
Dear sir,
I have loan of rs 11 lack and property is on the name of my father and he is the coapplicant with me for loan. This is our first house and loan taken from private financial institutions and taken loan and construction permissions after 2016.
Can I get the benefit of this as there is no women is involved in this transactions. That financial institute is denying me for this pmay scheme.
Where I can get the detailed information or provide me if is there any contact no
Thanks in advance
Sushant
9552400497
Basavaraj Tonagatti
Dear Sushant,
You are not eligible for PMAY.
sushant
May I know the reason sir?
Basavaraj Tonagatti
Dear Sushant,
Please cross check the above eligibility rules once again.
Rajan
Hello sir,
My income is less than 6 lakhs but more than 3 lakhs…the house I want to buy is 85 sq mts. Am I eligible for Subsidy? Loan amount is 6 lakhs
Basavaraj Tonagatti
Dear Rajan,
Whether you read the above post properly?
kumaresan s
Hi Sir , i got loan approval/ sanction message on Aug 2016.
but agreement and loan disbursed in aug 2016, am i eligible for PMAY.
my family income is 600014 rs Lacs , last 6 month before try . rejected because after jan 2017 loan disbursed only eligible now any changes to date
Basavaraj Tonagatti
Dear Kumaresan,
NO.
Ajit k.
hi sir my self and my brother name in agreement so we are eligible for pradhan mantri avas yojna ?
Basavaraj Tonagatti
Dear Ajit,
Refer other eligibility conditions.
Guest
Dear sir,
I have taken loan in 2015 ynder play scheme.
But due to some uncircumstances my loan accounts goes in default.
And bank says to me that subcidy not credit in your account because default.
Othey says that when outstanding will create subcidy will credit in your account.
Am I still eligible for pmay?
Basavaraj Tonagatti
Dear Guest,
As your loan is under default, you are not eligible for any subsidy.
Gopinadh
Dear sir,
Whether an bank employee who availed staff home loan is eligible??
Basavaraj Tonagatti
Dear Gopinadh,
NO.
Ganesh
Why not Basavraj sir bankers income is also coming under mig I or mig II.
All other conditions are also getting satisfied. N also staff housing loan is the concession given by employer to his employee
Hence Staff housing loan should not be considered as subsidy.
Pls correct me if I m wrong
Basavaraj Tonagatti
Dear Ganesh,
I agree with you.
hanumantha
Hi Sir , i got loan approval/ sanction message on 31st December 2016.
but agreement and loan disbursed in Feb 2017 , am i eligible for PMAY.
Before that i had agriculture land on my name in village and my salary is 10 Lacs , i bought flat in banglore 1230 sqft.
Basavaraj Tonagatti
Dear Hanumantha,
I think YES.
Bunty
Hello sir,
Is it possible to get benefits of PMAY if I keep my mother’s name as Co-Applicant in loan agreement and just my name in flat agreement?
FYI:
Mom holding one flat on her name. However, I’m earning and not owning any home.
Basavaraj Tonagatti
Dear Bunty,
Sadly NO.
Praveen Pandey
Hello sir,
I don’t have any house in my or my family’s name, however I am a co borrower in home loan of my brother. I am planning to buy a resale flat. Shall I be eligible for PMAY?
Basavaraj Tonagatti
Dear Praveen,
NO.
Narasimha
Hi Sir,
I have only one own apartment which I took thru home loan in 2010 and still paying the loan. Now I am going to sell it this month and planning to buy a new apartment after the old apartment is sold out. Will I be eligible for PMAY when I am buying a new apartment.
I will buy new apartment only after selling the new one.
Basavaraj Tonagatti
Dear Narasimha,
As you are not a first time buyer, PMAY will not be applicable for you.
Vidya
Hello Sir,
My Loan approved is 28Lac on Dec,2016 but actually loan taken is15 Lac and processing fees paid only for 15 Lac on May,2017. Note : As I said, in the month of May,2017, I amended Loan amount from 28 lac to 15 lac and also added my father name as co applicant then
Please advise me which date will be considered as loan approved date.
If my income exceed 6Lac
Am I eligible for pmay.
Please advise
Basavaraj Tonagatti
Dear Vidya,
As per me, it is loan disbursed date.
Sharadchandra Pawar
Hello Basavaraj,
My father & me have applied for a joint home loan. I am married. Both we & our wife’s have not own a pucca house in any parts of the country.
Question 1) So My question is, Am I eligible for PMAY?
Question 2) As our total income is more than 1 Lakh/ month So we have fall in the CLSS (MIG-II) Scheme, Right?
Question 3) Father & married son’s as joint home loan is applicable for PMAY?
Basavaraj Tonagatti
Dear Sharadchandra,
Refer above post once again.
Sharadchandra Pawar
Hi Basavaraj,
I am not getting clear thats why I have asked you a particular question regarding this. Please help / guide me on this.
Father & married son’s as joint home loan is applicable for PMAY?
Basavaraj Tonagatti
Dear Sharadchandra,
I hope you did not get the answer by reading above post. Sadly my answer is NO.
Sumit Birajdar
Sir me / my family did not have any home / home loan yet. I am single now. Bank executive suggest me to add my mothers name as a co applicant to avail the benefit of PMAY. Is this possible?
Basavaraj Tonagatti
Dear Sumit,
Yes.
Sumit Birajdar
Respected Sir,
Thanks a lot
Guest
Dear Sir,
CLSS category: MIG-1
Property purchased: June 2017
Property owners: Myself and Mother (Both do not had property earlier)
I separated from my wife from August 2016 and divorced in February 2018. In this situation, I made my mother as a co-owner in purchased property (No spouse and children). While applying for CLSS, my bank told me that I am not eligible, as my father owns a house without any more clarification.
I kindly request you to explain me, do I ineligible to CLSS in this situation?
Thank you
Basavaraj Tonagatti
Dear Guest,
As your mother is the co-owner, if your father owns the property, then you are not eligible.
Swati
Sir, I purchased flat without any loan in 2011 (Before marriage) and sold it in Feb 2019. Although it got registered under my name in 2017 (after my marriage) and we sold it and get it de-registered in Feb 2019. Now me and my husband have neither any loans nor any pukka house in our name. Sir, So can we now apply for home loan with PMAY benefits?
Basavaraj Tonagatti
Dear Swati,
It is for first time buyers.
Amardeep a sawant
Sir i am unmarried and my father have property on his can i apply for new property with my mother for pmy
Basavaraj Tonagatti
Dear Amardeep,
Whether other conditions mentioned above satisfy?
Palguna Rao
Hello,
How the annual total household income will be calculated? Is it a taxable income or gross income or net income if both husband and wife are working?
As per scheme rules, we are meeting all of them except income if we consider gross salary.
If it is net salary what deductions are to be considered so that we can confirm whether we are eligible as per income criteria or not.
How to calculate from Form 16 or ITR?
If I get my loan today and the registration happens in this month, how the income is to be calculated for this year as form-16 will not be available for this year.
Awaiting for your reply.
Thanks in advance.
Basavaraj Tonagatti
Dear Palguna,
There is no clarity on this. However, as per my knowledge, it is your Gross Income.
Palguna Rao
Which assessment year has to be considered? 2018-19 or 2019-20?
Basavaraj Tonagatti
Dear Palguna,
It should be AY2018-19 as AY 2019-20 not yet completed.
Murthy
Hello sir,
I have taken home loan of 25L on December 2018. I am falling under mig2. Home taken at gram panchat and loan tenure kept for 15 yrs. Am I eligible for PMAY. Please advise.
Thank you,
Murthy
Basavaraj Tonagatti
Dear Murthy,
Yes, if other conditions are satisfied.
Asif Shaikh
Sir, I have taken loan for 25 years in July 2017 can I get pmay scheme and last date for apply this.
Basavaraj Tonagatti
Dear Asif,
Yes, check with the bank.
rajasekar
My self and brother name having property of builded house which is belongs to my father ..and mortgage loan going on that property..is if i buy new home can i get subsidy??or for repairiing home can i get subsidy?
Basavaraj Tonagatti
Dear Rajasekar,
Sadly NO.
Zishan
Hii Sir,
An adult earning member (irrespective of marital status) can be treated as a separate household and can avail subsidy independently.
Is this statement applicable TO EWS LIG,
OR this is applicable for MIG CATAGORY only
because HDFC added after this statement ” for MIG category”
Basavaraj Tonagatti
Dear Zishan,
It is for MIG.
Fhirdoz
Hi Sir me and my husband is getting one apartment which belongs to Gram Punchayat so we are taking personal loan to pay the house amount because these property are not applicable for home loan and our annual income is 9lac please let me know will I eligible for this subsidy.
Basavaraj Tonagatti
Dear Fhirdoz,
Sadly NO.
Pankaj Singh
Will I be eligible for the PMAY scheme for my new housing loan if my father as a co-applicant for my home loan?
i and my wife owns 100% of the new property (for which home loan applied), and my father just a co-applicant
(my father already a owner of hosue).
Basavaraj Tonagatti
Dear Pankaj,
This scheme is for those who do not have property in their name.
Kush
Dear Sir,
My yearly income is 11,70,000/-. And my wifes yearly income is 7,80,000.
My self or my wife is eligible for PMAY? If no than my wife individually can be eligible for PMAY?
Regards,
Kush
Basavaraj Tonagatti
Dear Kush,
Along with income eligibility, whether you checked other eligibilities? Because you have to concentrate on other aspects too.
Priyanka
My home loan was disbursed 2016 can I get this benefit of PMAY
Basavaraj Tonagatti
Dear Priyanka,
Sadly NO.
Vennu
Dear Sir,
My loan sanctioned on jointly (wife) .But I registered sale deed only my name. Now how to proceed to get the PMAY eligibility for LIG. (as per my annual income I fall under lig). Thank you.
Basavaraj Tonagatti
Dear Vennu,
Ownership in joint name also required.
Vennu
Dear Sir ,
How to make ownership joint name ?On already registered deed on single name ?.
Thank you.
Basavaraj Tonagatti
Dear Vennu,
On the property for which you are applying for the loan.
Vennu
Sir ,
I registered flat in November 2018 on my name .At the time of registration our banker not informed that it is mandatory to make joint ownership for PMAY – LiG. Now if I want to avail the subsidy how to make the deed on joint ownership? If I make 50% gift deed on my wife name that Will be sufficient to proceed. Thank you.
Basavaraj Tonagatti
Dear Vennu,
Regarding ownership transfer, better you interact with lawyer. Because it is hard for me to guide anything blindly on the rules of your particular state and the cost involved in that.
Prakash R
Hi
Is the PMAY subsidy for mig 1 depends on location? I mean if the house will be constructed in village area, is that eligible for Pmay? Do I need to check whether my location is covered under this scheme?
Basavaraj Tonagatti
Dear Prakash,
Yes. Please read above lines “Location of the property should fall under all statutory towns as per 2011 census and or adjacent planning area (updated by government time to time).”.
Jasminder
Hello sir,
Could you please provide me your email ID so I can put up my query.
Thanks
Jasminder
Basavaraj Tonagatti
Dear Jasminder,
If your doubt is related to this particular post, then you can comment here.
Bilal
Respected sir, you said that “The property should be co-owned by a female member of the family. However, this condition will not be made mandatory in cases of construction of house on an existing plot or extension/renovation of existing Kuccha/Semi-pucca house.”
show me the correct source where U find this. I want to show bankers. They said it is wrong.
Basavaraj Tonagatti
Dear Bilal,
Refer THIS.
ARUPRATAN SINHA
Dear sir,my loan sanction date was 05-02-2015 but registration date 07-08-2015.as official the flat transfer my name on dated 07-08-2015.
so can i apply for that cash. please suggest.
Basavaraj Tonagatti
Dear Arupratan,
Sadly NO.
ARUPRATAN SINHA
sir,I PURCHASE A FLAT OF 315 SQFT .LOAN SANCTION DATE 05-02-2015.MY YEARLY INCOME LESS THAN 3 LACS.CAN I APPLY FOR PMAY SUBCIDITY
Basavaraj Tonagatti
Dear Arupratan,
NO.
Ganesh
Sir,
I registered sale deed only my name. But taken loan jointly as co applicant (wife has no income). My Annual income is 5.8L .Am eligible for LIG?
Basavaraj Tonagatti
Dear Ganesh,
Properly should also be in joint ownership.
Ganesh
My Gross salary is 6.3L and Net Salary is 5.8L which income group am belongs to?
Basavaraj Tonagatti
Dear Ganesh,
It is net salary that counts.
Ganesh
Thank you Sir,
I registered sale deed only my name. But taken loan on co applicant (wife). Annual income is 5.8L .Am eligible for LIG?
Basavaraj Tonagatti
Dear Ganesh,
In that case NO I think.
Vidya
Hello,
I have same case wherein my gross salary income 6.1L however my net salary 5.8L. but banker is considering my gross salary
Basavaraj Tonagatti
Dear Vidya,
There is no clarity on part with Government to clarify this issue.
Srinivas
Hi sir,
I have taken a house loan of 20l…in May2018. Now construction was completed. Loan tenure is 30 yrs. PMAY scheme is applicable for Gram panchayat or not
Basavaraj Tonagatti
Dear Srinivas,
Yes, PMAY applicable to Gram Panchayat also. But you have to satisfy above-said eligibility criteria.
Mahesh
Hello Sir,
Awaiting your comments for my query mentioned on 23rd Feb,2019.
Thanks,
Mahesh
Basavaraj Tonagatti
Dear Mahesh,
Can you repeat the same?
Mahesh
Loan sanctioned on 4th Dec 2016, Rs 28,00,000/-
Home agreement done on 23Jan 2017
Actual Loan taken is Rs 15,00,000/- on May 2017.
Gross Income for FY 2015-2016 is Rs 526000/- and Gross Income for FY 2016-2017 is Rs 604000/- and Gross Income for FY 2017-2018 is Rs 638000/-
Is it eligible for PMAY
Please Advise.
If yes, then which category LIG, MIG 1
Basavaraj Tonagatti
Dear Mahesh,
As per me NO as loan sanctioned in 2016.
Priya
Hi sir,
I have taken a house loan of 60l…in Feb 2018…still construction is going on…. Loan tenure is 30 yrs…. Im I eligible for pmay scheme… As I enquired bank manager they said loan amt should be less than 30l…for eligibility… Please clarify my doubt
Basavaraj Tonagatti
Dear Priya,
Yes, your banker is correct.
Nafees ahmad
Dear sir,
I have purchased property and home loan sanctioned 30/05/2016 but my home loan is not booked under PMAY scheme so I am eligible for subsidy other wise suggest now what to do for PMAY subsidy
Basavaraj Tonagatti
Dear Nafees,
Sadly you are not eligible for PMAY.
Mallikarjunaiah
If he(Nafees) belongs to EWS/LIG and carpet area is less than 30/60 sqm, Why do you think so?
Basavaraj Tonagatti
Dear Mallikarjunaiah,
Many times with limited sharing, we can’t judge that they are eligible.
Jitendra Patel
Dear sir, I have a home with joint account with my elder brother and my brother name is first and mine is second. Now if i sold it to my brother and remove my name by preparing new registration. Than will i be eligible for pmay subsidy?
Basavaraj Tonagatti
Dear Jitendra,
I have replied to your email.
Manikanda prabhu
Hello sir
I am Prabhu .I was planned to construct a new house about 2700sqft in our village it was under village panchayat .I need a loan for 35lakh.if I pay the loan in 30 years can I eligible for the pmay scheme.
Basavaraj Tonagatti
Dear Manikanda,
Apart from your shared information, check the other eligibility criteria from the above post.
PRANAB CHATTERJEE
What is the meaning of “Woman Ownership Yes (except for construction)” for LIG Group??
Basavaraj Tonagatti
Dear Pranab,
It should not be for construction purpose.
Bilal
Dear sir , I showed to bankers your blog about PMAY. But housing finance banks is saying that it is not in their circulars. Please send me the source where u find. Kindly help me in this.
shaikbilal69.sb@gmail.com
Basavaraj Tonagatti
Dear Bilal,
I have written based on facts. If they are unaware of it, then let them give in writing.
Kishor Tade
Sir, I purchased flat with home loan in 2010, with co-owner my wife and sold in 2013 , again I purchased flat with home loan in 2013 & sold in 2018 , now I don’t have any pakka home on my home (my father have home on his name) so at current stage I don’t have any home or any loan can I avail subsidy loan
Basavaraj Tonagatti
Dear Kishor,
Yes.
Aravind
I’m 25 yrs unmarried and salaried with 5Lakhs annual income and my father has agricultural income of 5Lakhs. Will i be under MIG 1 category or LIG?
Basavaraj Tonagatti
Dear Aravind,
You still have doubts after going through above post?
Aravind
When was the last date to apply for PMAY under MIG 1
I see some sites show it March 31, 2019 and others March 31, 2020 which is correct
Basavaraj Tonagatti
Dear Aravind,
Last means post March 31st 2019, PMAY not available?
M Sreeramulu
Hi Sir,
I am employee of private sector construction company. I am planning for home loan. I am getting income around Rs 20 L. Am I eligible for PMAY scheme. please clarify.
Basavaraj Tonagatti
Dear Sreeramulu,
Along with your shared information, check the above details for your eligibility.
Bhuvan Durga
Hi Basavaraj,
I’ve taken loan from Canfin Homes(Canara Bank). I’m 25years old male and the property(1100 sqft flat) is registered only on my name.
But in the loan my mother is co-application. Anyways, me or my mother(working) do not hold any property(father expired) .
For consideration of family income, will it be mine alone or my mothers would be considered ?
Basavaraj Tonagatti
Dear Bhuvan,
As she is also co-applicant, it is combined income to be considered.
Soumya Ranjan Patra
Hello Sir,
Me(Applicant) and my Dad (Co Applicant have Jointly applied for a home loan at SBI for our First Home
My Per annum Salary is 9 Lacs
And my Dad per annum salary is 12 Lacs.
Can we avail for PMAY scheme??
Not Sure if my Dad salary is going to get added to my Family income or not
Basavaraj Tonagatti
Dear Soumya,
Your father’s salary will not be added to loan eligibility. If the rest of the eligibility criteria are fulfilled, then you can go ahead.
Ananth kumar
Hello sir,
I bought already build house (14 years old) on 04/02/2019 with 720 Sqft rcc roof and 150 Sqft asbestos roof.
I need to reconstruct asbestos roof to rcc roof.
So I will go for bank loan.
My annual income is 10 L.
I and my family members does not have any house other than this house.
Is I am eligible for PMAY ?
Basavaraj Tonagatti
Dear Ananth,
NO.
imran
Sir,
i have taken home loan in july-2017 from tata capital with my mother as co applicant for new flat. agent told me that i am eligible for PMAY. but during documentation he used my father named light bill as resident proof. my father having a property in joint with his brother and sister where three family staying in same house. now bank denying for subcidy. kindly guide me.
Basavaraj Tonagatti
Dear Imran,
It may be due to your father’s holding a property.
MANI
Dear Sir,
I have took housing loan for construction on Sep 2016 for construction. of about 18 L with 20 years tenure in LIC HFL this is the first loan in family whether I’m eligible for the PMAY?
Basavaraj Tonagatti
Dear Mani,
No.
SWAPNIL PANCHAL
I’m single right now & salaried.
Whenever I get married, can I add my wife’s name in the loan scheme & get subsidy? Please suggest.
Basavaraj Tonagatti
Dear Swapnil,
Sadly NO.
atul gaikwad
Sir,
I have only 1 house(flat) which i have purchased in 2014 (registered aug 2014).
I got possession in mar 2015.
I taken a loan of 34 lacs for it which is still going on.
If I take a second loan of around 12 lacs for renovation of the same flat will I be eligible for the PMAY(MIG II)?
Basavaraj Tonagatti
Dear Atul,
NO.
Geet
My brother(married with child) owns a house that he got on his own income.I feel my parents to be homeless. Are they eligible for PMAY?
Basavaraj Tonagatti
Dear Geet,
With your limited saying, I may say YES.
Geet
Thank you sir.
dev
i m 1st applicant and my mom is second Applicant in loan ,i bought new home .i Added my mom name in Property as Co-owner
my dad have own house in Village ..can we eligible for subsidy scheme
Basavaraj Tonagatti
Dear Dev,
I don’t think you are eligible as your father has a property.
Harish
Hi,
I got a sanctioned in year of 2013 and same loan transferred in year of 2018 can we eligible for subsidy scheme
Basavaraj Tonagatti
Dear Harish,
NO.
Abin
I have availed a Housing Loan from SBI with no co applicants. My loan was sanctioned on Jan 2017. I haven’t availed the PMAY subsidy yet. If i transfer the existing loan to another bank ,can i avail the PMAY subsidy. If so do i need a co applicant to avail the subsidy?
Basavaraj Tonagatti
Dear,
Co-Applicant is required in certain cases as I explained above. Hence, better you read once again the above post.
Sai Teja
Hello,
Thanks for the efforts in writing this article. I have doubt.
Dad’s Income (Salary): 1.54L
Dad’s Income (Other’s): 2.46L
My Income (Salary): 3L
Now,
We’ve bought a flat by taking a loan of 26.6L stating me as applicant & dad being co-applicant and I’m unmarried. My loan is sanctioned in May 2018. Now, there is no female owner. Loan & House is registered on myself & dad. But, we are now living in the property which was inherited by not yet registered on my dad’s name. It is still on my great grand father’s name.
So, can I apply for PMAY under MIG-I? If yes, till when I can apply for that? Is there any last date?
Basavaraj Tonagatti
Dear Sai,
It is not clear with your comment to arrive and judge that you are eligible. Please go through above post and check each point I mentioned.
Gurujot
Hi,
My parents are no more. But their property transferred to my name as i am the heir (only son of them).
1 property was not pucca house which is Broken by rain, it was in name of my father.
2nd property is pucca house, it was in name of my mother.
the above properties in Punjab state. I seek benefit of PMAY in Noida due to job.
So, should i eligible? or any alternative pl suggest
Basavaraj Tonagatti
Dear Gurujot,
This scheme is for those who have no property.
Gurujot
But I as independent with my household family (Spouse & Child) have no own built property i got it from my mother’s income.
I also want to built on my own for me !
Your suggestions pl.
Gurujot
Thanks for your reply
RAJESH
Dear Sir,
I have taken one flat in Mumbai in the year 2012 and now that flat I have sold out to other purchaser and loan also closed now . There is no property in my name . I am planning to take property in RESALE whose loan is going on with other bank i.e Balance Transfer case . Shall I eligible for PMAY scheme . OR
Shall I ask purchaser to close his existing loan from his own funds and obtain property papers from them .So that it will be a fresh case with non BT case .Then i am eligible for PMAY scheme? Pls provide your valuable response for my deal ..Thanks
Basavaraj Tonagatti
Dear Rajesh,
Yes you are if other eligibility criteria are meeting.
Jatin Tadse
Hi Sir,
I have taken Home Loan, and also apply for PMAY subsidy, but my home Loan tenure is 15years so plz advise whether it is reject or accept subsidy.
My email ID :- jatintadse@gmail.com
Basavaraj Tonagatti
Dear Jatin,
Yes, you are eligible.
Jatin Tadse
Thnx sir.
Jatin Tadse
Hi Sir,
Taken loan amount is 6,50,000 so plz advise how much amount will approved subsidy.
Basavaraj Tonagatti
Dear Jatin,
I have already explained in above post. Please read it again.
N PRUDHVIREDDY
Hi, Loan approved on 2016, can i apply for PMAY scheme.
Basavaraj Tonagatti
Dear Prudhvireddy,
NO.
bharat
if i refinance or tranfer my home loan then can i take a benefits or not?
Basavaraj Tonagatti
Dear Bharat,
NO.
Sarita Negi
Hi,
me and my husband are planning to buy a new property in urban area and from income perspective he seems to be eligible for MIG II as he doesn’t own any property in his name.
My question is- I already have a property in my name before marriage for which i am paying loan so if in the new property my husband and my mother in law are co-applicant – is he eligible for PMAY?
Basavaraj Tonagatti
Dear Sarita,
Yes.
jay
hi sir my self and my wife and my brother and his wife name in aggrement so we are eligible for pradhan mantri avas yojna ?
Basavaraj Tonagatti
Dear Jay,
It is the ownership that matters. For detailed eligibility, check with your bank.
Zeb Patel
Hello sir,
My annual income is 3 lakhs.
Want to place my mother’s name in ownership.
Interest will be payed by me but have work experience less than 2 years.
Family consists of mother and father and I m their single child.
Is PMAY applicable to me?
Basavaraj Tonagatti
Dear Zeb,
If your mother is the owner, then whether banks will give the loan on your mother’s name? Check those factors first with your banker.
SWAP
Hi Sir,
My self Swapnil Shelar. I have taken home loan in December 2014 with my brother. My brother is co-applicant and co-owner of the flat. (Loan reflecting in CIBIL)
Now my brother (married) wants to purchase a new flat in my mother name.
My question is :
If my mother (no income) purchase a new flat in her single name and I will add my brother as a co-applicant in loan for income criteria.
Can he get benefit of PMAY ?
If not, then kindly let me know the other options to avail the PMAY benefit.
Thanks in advance Sir.
Basavaraj Tonagatti
Dear Swap,
Sadly NO.
SWAP
Thanks Sir for quick revert.
Shekhar poojary
Hi sir, took a home loan with my mother in 2014 and loan is still running. Is it possible to get the subsidy..and how?
Basavaraj Tonagatti
Dear Shekhar Poojary,
Sadly NO.
Sudharsan
Hi Sir, i dont have any houses in my name.. I am planning to build new house with four portions within the carpet area mentioned in pmay. Am i eligible for PMAY scheme?
Basavaraj Tonagatti
Dear Sudharsan,
But your four portions in total is beyond the PMAY limit right? Please cross check with Bankers for the same.
Rahul
I sell my old flat which was purched in 2011 and clear my home loan, now i am palning to buy new flat , Am i eligilble for PM Awas Yojana?
Basavaraj Tonagatti
Dear Rahul,
Yes, if currently you are not holding any property in your name.
Shahrukh
Hi my salary is gross 5.84 lakhs and I am adding my mom as Co applicant but my father has a house in his name m I eligible
Basavaraj Tonagatti
Dear Shahrukh,
Yes, if other conditions are eligible for you.
Raghunath biswal
My home loan plan is maxgain sbi home lone.can I eligible pmay scheme.
Basavaraj Tonagatti
Dear Raghunath,
Yes, if other conditions are OK.
DollySingh
I am a female, and have a property in 35% share from father’s will, 65% share to my sibling. I am going to purchase a flat elsewhere self owner only , am i eligible for pmay loan subsidy.
Basavaraj Tonagatti
Dear DollySingh,
Sadly NO.
Sanjay
Hello
i am looking for buy home.ownership name me and my wife and younger brother.he is not married.and annual income 6 lacs.
Whether i am eligble for pmay subsidy or not.
Thaanks
Basavaraj Tonagatti
Dear Sanjay,
Ownership in three names and that also with brother means they not allow.
Sanjay
Hello sir
Itz is mandetory to wife name i mean itz compulsory put one female name?
Agreement flat name two brother will get pmay subsidy or not.
Thanks
Basavaraj Tonagatti
Dear Sanjay,
As per the rules yes. Two brothers on a single property not possible.
RAGHAVA
I have purchased a flat which is under construction, loan has been partially disbursed. Do iam eligible for pmay scheme.
Basavaraj Tonagatti
Dear Raghava,
Whether other conditions are satisfying? If so, then my answer is YES.
Dilawar
Hi Sir My name is Dilawar and serving in Army. I have a plot of 1400 sq ft on my name in Dinanagar city punjab. I want to construct my own house on it. Earlier there is no house on my name. My gross annual salary is aporox 5 lakh. Am I entitled for PMAY loan
Basavaraj Tonagatti
Dear Dilawar,
Whether you cross checked the above post properly?
Dileep
Hi Sir,
I am from Kanpur. My Gross income is 6.04 Lakhs and Net Income is 5.81 Lakh.
Took a home loan from HDFC. My wife is the Co-applicant .
House has a carpet area of 1000Sqft. Loan approved in May 2018.
Please suggest me if I would be eligible for PMAY subsidy and in what Category.
Basavaraj Tonagatti
Dear Dileep,
As per me you are eligible.
Gaurav
What if I have purchased a house in June 18 and co buyer went abroad on July 18, now salary received outside india will be considered under the PmAY eligibity criteria ?
Basavaraj Tonagatti
Dear Gaurav,
They consider the above eligibility ONLY during the sanction of the loan.
Shwe
Hi, I am unmarried female with salary upto 9 Lakh and living in bangalore. But i want to build small house in rural area in my hometown. My relative is giving small piece of agricultural land for me to build house.
1) As I am working professional, is it possible to buy the land in my name?
2) under which category I will be able to apply for house loan and get subsidy?
3) if I cant buy that land, can I buy that land with joint account of my mother & me then apply for loan?
Note: My mother doesn’t have any income and dependant on me.
Basavaraj Tonagatti
Dear Shwe,
How you can build a house in agricultural land?
Shwe
I am not sure if i have misunderstood about agricultural land. In my home town we do have home and farming land together. So people build house in the farm land. I meant this.
Basavaraj Tonagatti
Dear Shwe,
Just cross check with legal experts.
Mahesh Patil
Hello Sir,
My Name is Mahesh from Mumbai. I am Married and My co-Applicant is my mother. so can I eligible to acquire PMAY subsidy?
Please help.
Thank you
Basavaraj Tonagatti
Dear Mahesh,
Along with joint loan, check other eligibility criteria which mentioned above.
mahesh patil
I am eligible for all other criteria. my question is
At the time of home loan I am married and co-applicant is my Mother.
can I eligible for PMAY subsidy?
Basavaraj Tonagatti
Dear Mahesh,
Yes.
Saanthossh K
Hi Sir,
Greetings for the day.
I am from Hyderabad. My annual income is 6.5 Lakhs.
Took a home loan from ICICI. My wife is the applicant and I am co-applicant.
House has a carpet area of 2000Sqft. Loan approved in April 2018.
Please suggest me if I would be eligible for PMAY subsidy.
Basavaraj Tonagatti
Dear Saanthossh,
Please check the carpet area parameter with the eligibility image of what I shared.
Prakash NC
Dear Sir,
I have taken home loan in 2016. I come under MIG-II category.
Am I eligible for PMAY?
Thanks in advance
Thanks,
Prakash
Basavaraj Tonagatti
Dear Prakash,
Sadly NO.
saradhi
Dear Sir,
I have taken loan for my site 3 years back from LICHFL (for only site and not Housing Loan) and recently I have booked under construction flat and got housing loan from HDFC. I will come onder MIGII category. But HDFC says I am not eligible for PMAY, as I have site on my name.
As per PMAY eligibility T&C , it only mentioned that there shouldn’t be any pukka house on any of the family member name but nowhere they have mentioned about site. Kindly clarify if I am eligible for PMAY Scheme.
Regards,
Saradhi
Basavaraj Tonagatti
Dear Saradhi,
What HDFC says is right.
amber
dear sir,
i have purchased a under construction flat in credit linked subsidy PMAY,
now i have received the amount in my loan account. I will get the possession of flat in Nov. 2019. Now if i want to sell the property before taking the possession because of my job transfer then hows its possible to sell ?
Basavaraj Tonagatti
Dear Amber,
There is no such clause written that one must hold the property for these many years. Hence, you can sell it.
amber
thanks Sir !
Krishan Kumar
I am co-applicant in my mother’s home loan taken in 2013 and paying EMI on the behalf of her. So loan reflects in my CIBIL also but the property is in my mother’s name and she lived there independently.
I don’t have any property in my name anywhere in India and my wife purchased her first property in Feb 2017. Now my wife taken home loan to build house on her property and i am also co applicant in my wife’s home loan.
So my query is my wife eligible for PMAY scheme on above mentioned condition or situation.
Basavaraj Tonagatti
Dear Krishna,
If your wife is already owning a property (in Feb 2017), then she is not eligible now for PMAY.
Nil
Hi sir….
I have purchase 1bhk flat and I am unmarried
in my case I have joint my dad as a financial supporter for home loan and my loan tenure is 12 years so can I eligible for PMAY Sceam?
Basavaraj Tonagatti
Dear NIL,
Check the above table to verify your eligibility for all the conditions. It is hard for me to judge with mere few lines of your sharing.
Kaushal Gandhi
Hi Sir,
Should I change to my loan tenure to 20 years. My home loan application is approved with 30 years but yet to disburse. I fall under MIG-2
Basavaraj Tonagatti
Dear Kaushal,
I already explained the rules in the above post. Please refer the same.
Zamir
Dear Sir,
I wanted to purchase home as my salary is below 6lac, I’m unmarried, living as bachelor at metropolitan City. I wanted to give coapplicant my mother. Am i eligible as separate family? One room is in the name of My grand father but now transferring in the name of my father. Am I eligible for PMAY with my mothers name?
Basavaraj Tonagatti
Dear Zamir,
Yes, you are eligible.
Kripashankar Dubey
Hi sir, I taken flat in the year 2014 registration done but still I didn’t receive. After that I taken new flat in this year. Kindly suggest can I get PMAY yojana
Basavaraj Tonagatti
Dear Kripashankar,
Sadly NO.
Shubham Khanna
Hello Basavaraj ji,
Me and my brother together purchased a new 3 bhk flat. Here my brother is co-applicant. Are we eligible for PM Awas yojna?
Basavaraj Tonagatti
Dear Shubham,
As per me NO.
Shubham Khanna
Ok, but m getting message from HDFC bank (my loan bank) that I am eligible for CLSS. Can you please elaborate why do we not eligible?
Basavaraj Tonagatti
Dear Shubham,
Then go ahead.
Ramesh
Female owner or Co owner, which one is required for pmay
Basavaraj Tonagatti
Dear Ramesh,
Female owner.
Ramesh
Sir
Aggrement karte samay me kiska name first dalu mera ya mere misses ka bcz
Loan par me applicant Hu and my misses Co applicant
Basavaraj Tonagatti
Dear Ramesh,
Then it should be your name.
Ramesh
In such case Can I eligible for subsidy
Basavaraj Tonagatti
Dear Ramesh,
Refer above post once again.
Ramesh
I purchased 1bhk flat, at the time of aggrement , whose name is first my name or my misses name. And for getting subsidy whose name is first
Basavaraj Tonagatti
Dear Ramesh,
It should be as you are holding the ownership.
Gaurav kapoor
I want to know whether gross income or net income is the criteria for PMAY?
Basavaraj Tonagatti
Dear Gaurav,
In my view, they have not specified anything like that. But it seems Net Income.
Saurabh Kenjale
Sir I m purchasing 3bhk flat along with my brother. The agreement is in my brother’s name and myself. I m married. He is single. Am I eligible for PMAY scheme.?
Basavaraj Tonagatti
Dear Saurabh,
If the property is jointly owned then both owners eligibility must be checked not your alone.
Saurabh Kenjale
Thanks Sir. If the agreement is in my name and my brother’s name and I m claiming subsidy but not my brother. Is it valid?
.
Basavaraj Tonagatti
Dear Saurabh,
It is ownership that matters.
Shrawan
MY SBI max gain loan got approved in May 2016 & property registered in my name only (no female co-applicant).My income is in range 6L to 12L.
Kindly inform how can i get benefits under PMAY.
Basavaraj Tonagatti
Dear Shrawan,
You are not eligible for PMAY as your loan sanctioned before the launch of PMAY.
Deepak
I have availed PMAY benefit from PNBHFL. My question is can I transfer my home loan to another bank after availing the PMAY?
Will there be any effect on subsidy which I received from PMAY.
Basavaraj Tonagatti
Dear Deepak,
Yes, you can transfer and there is no issues.
Anil
Sir,
I request some clarification on PMAY(Urban).I am not an BPL (White Ration Card) Holder and land is registered on my wife name and it is located in Gramin area,but it is close quarters to municipality.
Hence, it is requested to kindly clarify whether i am eligible for PMAY(Urban) as i am planing to construct a individual house at that above mentioned land.
Basavaraj Tonagatti
Dear Anil,
The property in question should be in an urban locality and also you must be the owner.
Anil
Sir,
My annual income is below 6 Lakhs and I am in the slab of CLSS – LIG. For this statutory towns is required. But, my land surrounding the statutory town.
I approached SBI for home loan they said that you will get subsidy in the slab of CLSS-LIG.
Basavaraj Tonagatti
Dear Anil,
Then what is your doubt if bank is accepting under PMAY?
Anil
Sir,
My annual income is below 6 Lakhs and I am in the slab of CLSS – LIG. For this statutory towns is required. But, my land surrounding the statutory town.
I approached SBI for home loan they said that you will get subsidy in the slab of CLSS-LIG.
Basavaraj Tonagatti
Dear Anil,
If you fall under CLSS-LIG and bankers are ready to accept it then why not go for it?
Saurabh
Hi, I am a salaried person with ctc above 18L in my current organization. In my previous organization it was much below 18L. If we take median of both CTCs it comes below 18L. Will I be eligible for this subsidy?
Basavaraj Tonagatti
Dear Saurabh,
As per me, YES.
Neha
Hi Sir, my income falls under LIG and my husband’s income crosses the upper limit of MIG. Can I get the subsidy in case I apply for home loan alone?
Basavaraj Tonagatti
Dear Neha,
Yes, if the property is owned by YOU only.
DV
Dear Raj..I have purchased a flat in the month of March 2016 with the help of DHFL. I got to know from DHFL that my pmay application rejected because I am not satisfying income limitations. First of all i haven’t applied for PMAY. When I called customer service to check my eligibility they said like that.
My salary at the time of purchase 11 lakhs PA. loan granted for 24 lakhs. Tenure is 25 years, Area 1185 Sft. I am from Hyderabad.
Basavaraj Tonagatti
Dear DV,
You are asking for eligibility for 2016 sanctioned loan? No, you are not eligible for PMAY.
Vanitha
For 10lac 4years loan tenure is eligible for pmay??
Basavaraj Tonagatti
Dear Vanitha,
I think you did not read above post. There is a limitation for maximum tenure but not for the minimum.
Vanitha
I can’t understand wat you mean..am I eligible or not
Basavaraj Tonagatti
Dear Vinitha,
There is no cap on the minimum tenure of loan (That is what I meant to say). Hence, if you are eligible for the rest of the features, then tenure is not an issue.
Pavan Toshniwal
Me and my brother purchase a property in joint name and we don’t have any property. Whether we are eligible for this PMAY scheme
Sohel
Dear Mr. Basavraj ,
Thank you for this informative article .
I have a housing loan of nearly 45 Lacs for 20 years . My CTC now is nearly 19 lacs per annum . But at the time of Loan sanction it was around 13 lacs per annum in June 2017 . My Mother is a co owner in this property . Are we eligible for PMAY . our house is nearly 85 sq.m carpet area .
Regards ,
SOHEL
Basavaraj Tonagatti
Dear Sohel,
Yes eligible but check the other criteria also which mentioned in above post.
Yogesh
Hello,
-My father has a Kacha Makan in Nagpur and want to sell this house and purchase resale Pakka Makan ta same city
-Resale Pakka Makan purchase by my mother name
-Me & my wife total annual income is around 9.5 lacs.
-Loan taken by me & my wife so whether I can apply for PMAY scheme.
In which category we can own mig 1 or 2 and location can be takes as Nagpur ???
Basavaraj Tonagatti
Dear Yogesh,
The property should be in your name also to avail PMAY.
Yogesh
Thank you
but Repco home finance executive says that this PMAY scheme is closed.
If Repco is not ready to provide and avail this scheme through bank then can we avail or apply for this scheme by our own and how. can you tell the procedure for the same.
Basavaraj Tonagatti
Dear Yogesh,
It is not closed. They are misguiding you.
Yogesh
In this scenario what you suggest
House purchase by my mother and my wife name
or me & my wife name to get PMAY scheme benefit
Basavaraj Tonagatti
Dear Yogesh,
Better in your name and your spouse name.
Yogesh
Smile Thanks Sir 🙂
Mahesh Soni
Hi Sir,
Can i avail this benefit if my loan tenure is 30 years and I am under 6 lac category?
Basavaraj Tonagatti
Dear Mahesh,
I think NO.
V V Ramana Murthy
I am taken loan from LIC HFL for purchase of a flat inthe month of Feb.2016. Whether I am eligible for above mentioned PMAY subsidy.
Basavaraj Tonagatti
Dear Ramana,
NO.
DurgaPrasad
Hi Sir,
In 2014, my mother transferred a house in the form of gift deed on my name. So, Am i eligible for PMAY if i purchase a new house on my name.
Thanks
Durga Prasad
Basavaraj Tonagatti
Dear Duraga,
Legally you are the owner of the property and in that sense how can you be eligible for PMAY?
Ankit Bajaj
Hi Sir your explanation Is really good..but I have a doubt that scheme says you should not be owner of pucca house, but I am having a housing loan in my name where I am main applicant for housing loan and the property is in name of my grandfather..but we are taken as applicants for fulfilling income criteria..
Basavaraj Tonagatti
Dear Ankit,
In that case, I think you are not eligible for PMAY.
ARUL MOZHI
if i government employee (transport department) can apply and city limit means vandalur area is eligible or not.
Basavaraj Tonagatti
Dear Arul,
Refer the above post properly. Yes, city limit area also eligible if you satisfy the conditions mentioned in above post.
Abhishek
Sir i am abhishek i purchased a house in chhindwara m. p sir i have taken loan from dhfl. Sir I have one negative account of credit card so am I eligible for PM SUBSIDY??
Basavaraj Tonagatti
Dear Abhishek,
Your credit score not at all a criteria to be eligible for PMAY.
Kalyani
Hi,
The article has explained PMAY policy very clean and precisely. Thanks for this explaination. I wanted to query regarding when can an individual apply for this subsidy (with reference to under construction property)? I mean to ask, post first demand disbursement of loan, OR only after the entire loan has been disbursed and 100% construction done, OR other stage?
Basavaraj Tonagatti
Dear Kalyani,
You have to apply for PMAY through your bank at the time of initial installment disbursement itself.
Khushbu Bhatt
Hello,
My father in law has a pucca house in Karamsad anand only so whether I can apply for play scheme.
Me n my husband total annual income is around 7.5 lacs.
In which category we can own mig 1 or 2 and location can be takes as anand ???
Basavaraj Tonagatti
Dear Khushbu,
Please re-read the definition of FAMILY and MIG 1 or 2 eligibility rules again.
Vikas Reddy
hii sir thanks for the information
sir i am a student and my father is a farmer.my mother is house keeper.thd land for house construction is under my name.i have a four acre piece of land for agriculture .i applied for home loan with my agricultural income as a proof of income source ,am i eligible for PMAY with these conditions
Basavaraj Tonagatti
Dear Vikas,
In which category of income you all under?
Kirti
Hi Sir,
Me and Husband are planning to buy new home on me becoming first owner. But my husband is already a co-owner in other home which he bought along with his brother and Sister in law. Will we be able to PMAY benefits?
Basavaraj Tonagatti
Dear Kirti,
NO.
Pratik
Hello sir,
I have gone through the above article and I have a a doubt regarding the same. Request you to clarify on the same.
I am a married man. We purchased a property size ~800 sq ft in July 2018. It is registered only in my wife’s name. Her package before any deductions is 13L pa. My wife’s and my cumulative income pa is > 18L. Neither of us or my parents have any other property registered in our name anywhere in India.
Is my wife eligible for subsidy under category MIG-I or MIG-II ? As per the article, as far as I could interpret, my wife can be treated as a separate household in order to claim subsidy irrespective of our total income or her marital status. Or is the total household income always considered for providing subsidy?
I am quoting from the article. Please clarify if I have interpreted correctly or not.
“An adult earning member (irrespective of marital status) can be treated as a separate household and can avail subsidy independently.”
“In case of a married couple, either of the spouses or both together in joint ownership will be eligible for a single house subject to income eligibility of the household under the scheme.”
These two statements seemed to be contradictory to me.
Basavaraj Tonagatti
Dear Pratik,
It is the owner of the property whose income matters. Regarding statements, the first statement is related to the property where ownership is individual and second for joint ownership.
Pratik
Thanks sir. So are we eligible to apply for PMAY subsidy based on my wife’s income and irrespective of our joint income? The bank says that its the total household income(my wife and me in this case) that is considered which in our case is > 18L. Hence my wife / we are not elegible for subsidy.
Pankaj
resp sir i taken home loan from HDFC & reccived subsidy Rs. 2.67 last year but i want to tranfer my loan from HDFC to Bajaj housing finance , there is any problem regarding subsidy does it revert or no issue while transfering loan
Basavaraj Tonagatti
Dear Pankaj,
As per me, no issues.
Aravind Kumar
Sir, my home loan was sanctioned in dec 2016 and first EMI started on the same month. Am I right in assuming that I’m not eligible. Other than this I fulfill all criteria
Basavaraj Tonagatti
Dear Aravind,
Your assumption is right. You are not eligible for PMAY.
Jeet Chauhan
Hi sir i m jeet Chauhan i take home loan From axis bank and i not mention my mom s name in form so can i get subsidy……? It’s compulsory to mention a women s name and I am also unmarried so can I get subsidy…..?
Basavaraj Tonagatti
Dear Jeet,
First read above post properly and understand the definition of FAMILY.
arun
sir,
I own a flat which is on a lease with Allahabad Development Authority Allahabad.
May I not be consider for CLSS?
Someone tells that flat doesnot own land so it can be considered for CLSS.
Basavaraj Tonagatti
Dear Arun,
You are not eligible for CLSS.
SAKET aware
Sir may i get your contact number to take advice from you for pmay scheme .I am ready for pay your consultancy fee . my email is is saketaware@gmail.com
Basavaraj Tonagatti
Dear Saket,
Let me know your doubts at first.
YOGESH PATIL
dear sir,my parents in reside in our native has kaccha house, I have a brother my father is farmer (68 year old) mother is house wife, my brother is farmer (40 years old divorced) they want to build the existing kaccha house, whether they are eligible for PMAY
Basavaraj Tonagatti
Dear Yogesh,
In which category of income he falls?
Vicky
Dear sir my sisterinlaw is planning to buy a flat my fatherinlaw and motherinlaw both are passed the way. She is Single unmarried, and not having any house on her name, my wife will be co-owner in this property and we are also not having any property on our name. So should they eligible for subsidi. Loan repayment period we select 15 years
Basavaraj Tonagatti
Dear Vicky,
Co-Owner should be spouse not sister.
Raghu
Sir how to apply this.. website is not loading fully.. districts is not loading.. is there any offline application
Basavaraj Tonagatti
Dear Raghu,
Be in touch with your bank. They help you in this regard.
madhu
I am state government employee my annual income 850000/- sanctioned home loan private bank rs.2900000 now . and I bought a Flat with home loan in 2014 but sold with in construction time….am i eligible PMAY Benifits
Basavaraj Tonagatti
Dear Madhu,
Whether other conditions satisfied as per above post?
madhu
SIR
Please inform what are the other conditions?
Basavaraj Tonagatti
Dear Madhu,
Refer above post.
Shah
Dear Sir,
Can I avail this yojna. I am buying new flat, I am keeping ownership of my name and my mom. We don’t have any property registered in our both names. Loan will be taken under my name for home. I am married.can I avail this yojna by keeping my mom name too in property.
Thank you
Basavaraj Tonagatti
Dear Shah,
You can avail if you are eligible for the same (Refer above post properly).
priyanka
Sir, I want to avail this benefits of Pradhamantri Awas yojana, but I have no Idea as to whom should I contact or to meet regarding this.
Can you please guide me how to apply for this benefits?
Basavaraj Tonagatti
Dear Priyanka,
While availing the loan, you have to inform to the bank about this facility. If you are eligible, then they take the next steps.
harsha
Hi sir , My gross salary for FY 2017_18 is 20.3 lpa in FORM 16( 15.3 salary + 5 lpa special bonus for only one year). Will i be eligble for PMAY subsidy? Also how do they calculate the income? is it from Form 16?
Basavaraj Tonagatti
Dear Harsha,
Income range is already explained in the above post. Please go through once again.
Vivek
Hello sir,
I have purchased the first home. I have added my mother as nominee in agreement, because I am un- married.
I am coming under MIG1 category. My father have own house on their name.
Can I eligible for PMAY.
Thanks
VIVEK
Basavaraj Tonagatti
Dear Vivek,
Yes.
VIVEK
But bank person saying I am not eligible.
Basavaraj Tonagatti
Dear Vivek,
Then let him show the reasons.
Prashant T
Hi
My sister is divorcee. I am planning to acquire a property jointly, where she will be first owner followed by me. I already own a property. My sister falls under MIG-1. Will this transaction be eligible for PMAY.
Prashant T
Basavaraj Tonagatti
Dear Prashant,
If you are already owning a property, then you are not eligible for PMAY (even though you are second owner).
Siddharth
I have purchase a house its our 1st house. My Dad is on pension from the state govt. and i am salaried in pvt organization. We together has purchased the house. Are we eligible for PMAY. ? Is my fathers income( pension) will be consider for PMAY eligibility alaong with mine. If i club both of our salary we fall under in MIG-1 Catagory. Please suggest.
Basavaraj Tonagatti
Dear Siddharth,
Please refer the definition of FAMILY for PMAY eligibility. Also, your father’s income will not be considered for the eligibility of PMAY.
Purvi
Sir,I am female/divorced and I don’t own any property till now.i come under MIG 1.i have 1 daughter to look after.70%loan is sanctioned from BOI.
Am I eligible?
Basavaraj Tonagatti
Dear Purvi,
Yes, you are eligible.
Sandip kumar bose
I am unmarried & my mother is widow .if we jointly aplay for home lone ,we are eligible for pmay scheme.
Basavaraj Tonagatti
Dear Sandip,
In which category you fall?
Sandip kumar bose
If I have chose home lone for 30 years tenures than I avail pmay scheme
Basavaraj Tonagatti
Dear Sandip,
The maximum tenure of the loan is 20 years in PMAY.
Rini Paul
Hi Basavaraj,
I am a female, age 26years. I bought an apartment 6 months back, I wanted to apply for PMAY. I fall under LIG, the total area of my flat is 1124 sq/ft, not sure what will be the carpet area. My parents own a house, since the don’t stay with them will I be eligible to apply for PMAY..?
Kindly reply.. I inquired about this yesterday also but unfortunately I am not seeing my comment in your blog so I m not sure if you have already replied. Kindly let me know if I am eligible to apply for PMAY..
Basavaraj Tonagatti
Dear Rini,
I already replied to the same.
SLG
Sir my father bought a plot when I was a kid and recently he got demised . Now can we apply for this pmay scheme to build a home. I recently completed my studies and in job search, my brother is alone working and earns 22k per month are we eligible for this scheme. Please let me know
Basavaraj Tonagatti
Dear SLG,
Now who is owning that plot?
SLG
At present it’s on father’s name only and if needed we will change it to my mom’s name
Basavaraj Tonagatti
Dear SLG,
First read above post once again.
Laxman B.
I have purchased plot in 2011, now I have to purchase a flat, do I am eligible for PMAY scheme.
According to PMAY, buyer should not own a pucca house. But the bank from which I am taking loan are saying that you are not eligible for subsidy under PMAY as you own a plot under your name.please guide.
Basavaraj Tonagatti
Dear Laxman,
Yes, you are not eligible.
Amol Kshirsagar
Hello Sir,
If an PMAY eligible applicant buys 2 properties in the same month and so applies for PMAY subsidy for above one property. So will he get the subsidy on one property or he won’t. Please explain
Basavaraj Tonagatti
Dear Amol,
NO.
Jay
Hi,
My CIBIL score is 692, Will I be eligible to take house loan of 10 lakhs? Can you please share the details of minimum CIBIL score to be maintained for housing loan?
Basavaraj Tonagatti
Dear Jay,
It completely depends on individual banks to decide. Along with CIBIL score, your income also matters.
Mkur
I didn’t understand this sentence. “The effective rate of 8% after deducting one-third of the amount charged for the house towards the cost of land”
Can you please elaborate.
Basavaraj Tonagatti
Dear Mukur,
1/3 of th cost of the property is usually considered as the cost of the LAND.
Mitesh
I am unmarried and i bought a house on my name. I am living with my parents. Can i applicaple for this scheme?
Basavaraj Tonagatti
Dear Mitesh,
NO.
sakharam
Dear sir
i am purchase mhada lotory flat, can you give me PMAY Scheme
and hou to do this, in loan process
thanks
Basavaraj Tonagatti
Dear Sakharam,
I am not the authorized person to sanction the loan under PMAY 🙂
A. Syed
Sir,
I am an OCI and my husband is an indian. We hv 3 kids aged, 18,14,and 12 respectively. Am i eligible for PMAY? We do not own any residence anywhere in India.Kindly share your valuable inputs. Thank you.
Basavaraj Tonagatti
Dear Syed,
What about your income eligibility?
A. Syed
Sir,
i belong to MIG II.
Basavaraj Tonagatti
Dear Syed,
Then check the eligibility for other conditions by referring above post.
Arun
Hello sir ! My bank informing that. my home locating area was not comes under pmay coverable Area .is there any way to get the subsidiary like writing letter or mail to any official.if so please give me the address of the official concerned.thank you
Basavaraj Tonagatti
Dear Arun,
Sadly NO.
Pravin subhashrao supase
My annual incomes 3 lakh. My first property flat in urban area July 2016. Eligibil for Pradhanmantri avaas Yojana.
Basavaraj Tonagatti
Dear Pravin,
NO.
Mayur Ramdas
Dear Basavaraj,
I fall under MIG-II category. My property registration was done on April 2016. Loan sanctioned on 2013. Because my loan is sanction before launch of the scheme I am not eligible for the PMAY benefit. But if I transfer my outstanding amount to another bank now(2018), will I be eligible?
Basavaraj Tonagatti
Dear Mayur,
Sadly NO.
Rohit
Dear Sir,
I have query regarding my eligibility for PMAY scheme. Following are my details.
1)My Income: 3 Lac (EWS)
2)Martial Status: Unmarried
3) Mother own pucca house
4) My age 25 (above 21 year)……currently not staying with parents.
Please let me know I am eligible or not & Why???
Basavaraj Tonagatti
Dear Rohit,
I have already explained the eligibility details in above post. Please go through the same once again.
gaurav kumar
Dear sir ‘
My annual income is under 3 lac.and i purchase a flat first time in may 2018 and my loan sanctioned in 28-12-2017. I avail this scheme.my loan sanctioned in DMI HOUSING FINANCE Please reply
Basavaraj Tonagatti
Dear Gaurav,
In my view yes, but I suggest you to consult your lender once again.
Mamta vaswani
How to get refund of subsidy on property please can guide me
Basavaraj Tonagatti
Dear Mamta,
You get this subsidy at the time of loan closure.
Suryawanshi Rajendra
Sir,
I am workinng in Kenya, Getting salary 8 lac PA , Please let me know wether eligibale for PMAY subsidy in India. I am Indian citizen trying to purchase home in India.
Basavaraj Tonagatti
Dear Suryawanshi,
As per my knowledge, PMAY is not eligible for NRI.
Sivakumar
Dear Basavaraj,
PMAY loan is given in Kerala Grama panchayats now ? or is it on hold ?
Basavaraj Tonagatti
Dear Sivakumar,
I am not sure about particular state issue. Check with local bank.
Amitkumar Dubal
Hello Basavraj…
I have a query, Is the PMAY subsidy allowable in Narhe, Pune PINCODE: 411041 (am informed that this is a grampanchayat area) for a buying an apartment flat ?
Thank you for your revert.
Best Regards,
Basavaraj Tonagatti
Dear Amitkumar,
YES they are correct.
Bal Sabale
Dear Amitkumarji,
Narhe grampanchayat is aquired by PMRDA and PMRDA is allowable for subsidy as per Urban subsidy. From which bank you had taken loan?
Best Regards,
Bal Sabale
Mob – 9326744789
Srihari Surisetty
Hi Basavaraj,
My loan is approved on Dec 9th of 2016. Recently I did balance transfer, am I eligible for Pradhan Mantri Awas Yojana-Housing?
Thanks,
Srihari
Basavaraj Tonagatti
Dear Srihari,
NO.
Himani
Hi, me and my husband are both eligible for this scheme. I had two doubts regarding this..
1) What has loan tenure got to do with this scheme? Isn’t this scheme a one time thing?
2) If i am buying a Ready to move flat then where does GST comes in the picture?
Basavaraj Tonagatti
Dear Himani,
1) You will receive the subsidy at the time fo loan closure. Hence, the tenure of loan also matters.
2) GST is not applicable for ready to move flats.
Arjun
Hi,
I have a situation.
I am planning to buy a flat in urban area and I do fall under MIG 2 as per our houshold income group. I met all the eligibility criteria for PMAY.
However, the lending bank has said that i would not be eligible for PMAY since there was a joint housing loan taken by my wife and her mother before getting married (The property is in the name of my wife’s mother only and they have never availed any benefits through any schemes either).
I have not seen anywhere else mentioned that this is a criteria for availing PMAY benefit.
Can you please provide your expert opinion here!
Regards
Arjun
Basavaraj Tonagatti
Dear Arjun,
If your wife is not OWNING the property, then you are eligible for PMAY.
Arjun
Dear Basavaraj,
Thanks a lot for your response. Can i apply for PMAY independently in case the lending bank doesn’t do it from their end? Also, are there any specific documents needed for PMAY?
Basavaraj Tonagatti
Dear Arjun,
Sadly you can’t apply on your own. The process is to apply through the bank.
MILIND VAHALKAR
I am Milind Vasant Vahalkar.
I have taken Home Loan from Aspire Home Finance Corporation of Rs.14,00,000/- on 10/09/2015 and My Home Loan account No is LXPUN00115-160011601. My wife Mrs. Aarti Milind Vahalkar is Co-Applicant. My EMI Amt. is Rs.15,829/- every month of 10th date.
And I have received subsidy amount Rs.2,18,440/- against Pant Pradhan Awas Yojana on Dt.31/03/2016 and Aspire Home Finance also less from principle amount. Now my Home Loan Principle balance is 11,34,636/- on Dt.22/09/18 (Attached Screenshot Home Loan details taken from Aspire Home Finance website).
Now I have applied for Home Loan & top up amount (my personal reason) transfer to another bank Mannapuram Home Finance and also applied for Foreclosure letter to Aspire Home Finance Corp. And Mannapuram Home Finance disburse my Home Loan on 05/09/18, also they are deducted Pre-EMI Rs.4,663/- on 12/09/2018.
Now Aspire Home Finance Corporation hold my Home Loan Foreclosure letter for PPAY subsidy.
They are saying that you have pay subsidy amount and we will give you Foreclosure letter, otherwise they will give me foreclosure letter with Principle amount + Subsidy amount.
It means government given me subsidy against Pant Pradhan Awas Yojana for my Home Loan of Rs.2,18,440/- and Aspire Home Finance reverse/recover this amount from me.
Now I am very nervous when government has given me subsidy and they are again taking from me.
So, why you are given such a dream to public.
Aspire Home Finance has been bothered me for revert subsidy.
Please give me advise what can I do?
Can Aspire Home Finance Corporation reverse this subsidy amount?
My flat is in Gujar Nimbalkarwadi grampanchayat area and pincode is 411046.
Please help me, It is very most urgent.
Thanks & Regards,
Milind Vasant Vahalkar.
Basavaraj Tonagatti
Dear Milind,
As your home loan was sanctioned before the launch of PMAY, I am not sure how you are eligible for a subsidy. It is the matter of you and your bank.
MILIND VAHALKAR
Dear Sir,
PMAY launched & Home loan sanctioned in same year 2015 and I got subsidy in Mar.16.
Basavaraj Tonagatti
Dear Milind,
I am not sure of your case. Please cross check with your bank.
SWAROOP JAYAPRAKASH
Is it possible to make the loan transfer after getting PMAY subsidy and still avail the benefits ?
Basavaraj Tonagatti
Dear Swaroop,
It is nowhere written that PMAY eligible individuals are not allowed to transfer the loan. Hence, they are very much eligible.
manesh
Hi,
Do we have any maximum loan tenure to avail PMAY?
Some articles mentioned 20 years. I would like to take home loan for 25 years, will I get PMAY benefits?
Basavaraj Tonagatti
Dear Manesh,
Please refer above post properly. I already mentioned the same.
Swanand
Hi,
Is this scheme applicable for Resale flats.
We are eligible under MIG 1.
Thanks
Swanand
Basavaraj Tonagatti
Dear Swanand,
There is nothing specified whether the flat should be NEW or RESALE.
yogesh
hi my name is yogesh
before married i purchased a small house ….after three year i sold that now i am purchasing new house in both of us name ( me and wife)can i eligible to aply pradhan mantri awas yojana….i dont have any pakka house other than this new one
Basavaraj Tonagatti
Dear Yogesh,
Yes, but cross check the income eligibility also.
Sambhrama
Sir,
I fall under MIG-II.
I will be taking loan on my name, but the flat registration will be both on me and my husband’s name.
To avail PMAY, i read in your post that annual income should be 12-18 lakhs.
So, is this income combined for both of us, or just mine since loan will be on my name.
Basavaraj Tonagatti
Dear Sambbhrama,
In my view, it is your income only as the loan availed is in your name.
Rushabh
Dear Basavaraj,
I have query regarding my eligibility for PMAY scheme. Following are my details for you to decide:
1. I had done my house registration on 26/08/2016 and loan disbursement was done on 26/10/2016.
2. My annual income during house purchase or disbursement of loan was 6 lakhs/annum (Declared amount to bank). Currently my income is more than 6 lakhs/annum.
3. Property ownership is in my name & Co-owner is my mother. Same pattern is during loan application.
4. I got married on 26/11/2016.
Please let me know if I am eligible or not. If Yes then in which category?
Basavaraj Tonagatti
Dear Rushabh,
You are not eligible for PMAY.
Rushabh
Can you please let me know the exact reason?
Basavaraj Tonagatti
Dear Rushabh,
It is the date of registration and the loan taken date prior to the launch of PMAY.
Rushabh
Dear Basavaraj,
If i fall under CLSS-EWS/LIG category then PMAY schemes are appicable for loans on/after 17/06/2015 where as my loan was approved after that date of 26/10/2016
Srinivas
Sir,
I want to construct a home without any bank loan. I fall under MIG-1. If I am not taking home loan, I am I eligible to get the PMAY subsidy?
Basavaraj Tonagatti
Dear Srinivas,
If you are not availing home loan then no question of PMAY.
Venkatesh
Sir, thanks for the article. I fall under MIG II. I am unmarried and have no property but my mother has a house. Based on the below point am I eligible for PMAY?
An adult earning member (irrespective of marital status) can be treated as a separate household and can avail subsidy independently.
Basavaraj Tonagatti
Dear Venkatesh,
Yes, you are eligible.
vijay Kumar
hi sir,
My father transferred his property to me by gift deed. no other property is registered on my name. am i eligible to avail PMAY??
Basavaraj Tonagatti
Dear Vijay,
As you received the property from your father by gift, you are considered as an owner but not your father.
Ganesh Chaudhari
Dear sir,
I want to know whether I am eligible for PMAY in LIG criteria, my details are mentioned below:-
1) My Net Annual Income is between 3.0 to 6.0 lacs
2) I had purchased 1000 sq.ft plot in Nanekarwadi Chakan, Tal. Khed, Dist. Pune in May 2014 on my name.
3) I want to Construct a new house on my plot.
4) I am a married person and having a son
I have approached some banks and financial institutions for applicability of PMAY to me, but they are not having clarity that I am eligible for PMAY under LIG beneficiary they are informing me that for LIG group a senior women family member should be owner of property whereas property is on my name.
I have also gone through some information on Google which says that PMAY is applicable to a person under LIG if :-
1) He has purchased land/plot before 17 June 2015.
2) He is doing construction work on land.
As per above criteria i have purchased plot before 17 June 2015 & i am asking loan for construction purpose only, so as per above criteria PMAY can be applicable to me.
Request your suggestion whether PMAY under LIG is applicable to me or not.
Basavaraj Tonagatti
Dear Ganesh,
After reading above post, do you still have doubts?
B Nayak
Hi,
Can you please tell me how much need to pay as EMI for MIG-1 category for 9 L, and 10,12,14 years one by one ,under these YOJONA
and
As EWS/LIG category for 6L and 10,12,14 years
As below format
I want to know the EMI amount EX :
MIG-1 9 L 10 years , monthly ….
MIG-1 9 L 12 years , monthly ….
MIG-1 9 L 14 years , monthly ….
EWS/LIG 6 L 10 years , monthly ….
EWS/LIG 6 L 12 years , monthly ….
EWS/LIG 6 L 14 years , monthly ….
Basavaraj Tonagatti
Dear Nayak,
It depends on the interest rate also. Hence, check the same with your bank.
MD JAVED ANSARI
Hi, I am a state govt employee with monthly salary is around 25000. Am i eligible for PMAY.
Basavaraj Tonagatti
Dear Javed,
Along with income check the above shared eligibility also.
santosh
Hi I am bachelor and my salary not up to the mark so my father is second grantor, do i am eligible for PMAY and I am purchasing property own on name.
Basavaraj Tonagatti
Dear Santosh,
A guarantor is not at all comes into the picture. Hence, it is your property ownership eligibility, property cost and your income that matters.
Satish Katari
Hello Sir,
I have taken a personal loan one year back which is still pending. Am I eligible for PMAY.
Basavaraj Tonagatti
Dear Satish,
Your personal is in no way related to PMAY.
ankur
Hi
I am single salaried person, I want to know i am going to purchase the property should i am eligible for as i m not having any kind of property in my name as my parents have it. income is also less than 6. As i also want to know is it compulsory to have a female name in registry to avail the pmay coz i m single and if include my mother name than can i avail it as parents already have property on their. suggest me what to do?
Basavaraj Tonagatti
Dear Ankur,
Whether you read the above post properly? Your all questions are answered there.
Kumar
Sir, i am looking for a house purchase ( constructed ) at Dasara Hosa Halli, DK Halli Post, Robertson Pet Hobli, Bangarpet Taluk, Karnataka.
Whether i am eligible for PMAY / PMAY-G..kindly clarify..and here local bank people are informing that since the property comes under Panchayat Limit, the scheme will not be applicable.
Is it true..kindly clarify..thanks in advance..
Basavaraj Tonagatti
Dear Kumar,
Regarding eligibility, I already explained the same in above post. Please have a re-look into it.
Raj
Hello Sir,
I have purchased a re-sale flat on 27th June 2018 and have taken a Home Loan from HDFC in the same month “June-2018”. I was not aware of the PMAY, as such my first EMI is also deducted from my account. Can I still avail this benefit. Please suggest me.
Basavaraj Tonagatti
Dear Raj,
If you are eligible for PMAY (as per above article), then you can avail it now also.
Raj
Thanks for your quick response Sir.
My case falls under CLSS (MIG-I) and I have purchased the flat in my name. Is it female ownership is mandatory? or can I avail as a single male ownership.
Basavaraj Tonagatti
Dear Raj,
Your question is also answered in the above post.
sreedhar
Hi Sir,
I have taken the home loan of amount 2300000 on 31-05-2017 from LICHFL,my annual income is 12 lac pa,am i eligible for this PMAY scheme?
Basavaraj Tonagatti
Dear Sreedhar,
If your eligible for other criteria and date of loan taken was your concern, then yes you are eligible.
Prateek
Hi ,
The property is bought with name of a son(Adult earning) and mother.
Here the catch is that the Father is owns a property .
But however the loan in sanctioned after 1.1.2017.
Whether the son is eligible for PMAY SCHEME ,under MIG -2 category.
Deepshikha
On joint name with my husband we purchased a flat an year ago under PMAY on loan but now due to dispute in our relationship we want to sell our flat as we both don’t want to stay together anymore. What is the procedure ?
Basavaraj Tonagatti
Dear Deepshikha,
Then you will not get the benefit (as per me). However, better you still be in touch with the bank in this regard.
Saloni
hi,
Is it CTC of both the applicants or in hand income that counts please let me know.
thanks
Basavaraj Tonagatti
Dear Saloni,
It is your total income but not CTC.
Trikesh
Hey Basavaraj ,
I have booked flat on 2.04.2016. I have co-owner as my brother , we don not have female member in agreement.
does I am applicable PMAY?
also right now we add income of both two its up to 18 LPA.
If applicable in which class I am applicable . I mean
•EWS (Economically Weaker Sections)/LIG (Low Income Group)
•CLSS (MIG-I)
•CLSS (MIG-II)
which of this?
Basavaraj Tonagatti
Dear Trikesh,
As you availed the loan before the PMAY period, you are not eligible for this.
Nik
Hello sir, I am engaged and soon to be married (before december 2018). Can I and my fiancee book a house and avail benefits of PMAY?
Basavaraj Tonagatti
Dear Nik,
Now she is your FIANCEE but not wife. Hence, now you can’t avail of this benefit.
Nik
Thank you for your prompt response. On a related note, as per my knowledge, banks allow soon to be married couple to get a loan and disbursement will be done after marriage. So the loan will be approved. In such case, can we apply for PMAY after we get married, after 6-7 months?
Basavaraj Tonagatti
Dear Nik,
Legally you are married only when you complete the marriage process. Bankers do so because they are in hurry to close their business.
ambika shetty
Sir, I am ambika a private servicer. I got a housing loan rs 1450000/- for purchase resale house on 15.04.2015 from DHFL. I have no other house. Sir, I am eligible under PMAY interest Subsidy- 267000/-
Basavaraj Tonagatti
Dear Ambika,
You availed the loan before the launch of PMAY. Hence, you are not eligible for this.
ravindra yadav
Hello Sir,
Sir mene 1 ghar kharida he, jo me PMAY ke sabhi criteria me eligible hu, but me C.G. RAJYA SAHAKARI BANK, RAIPUR ka employee hu, or mene ”Staff benefit” ka ‘HOUSE LOAN’ liya he, jo 7% rate of interest, simple interest chargeble he, lekin mere management dwara subsidy ke liye eligible nahi hone ke karan reject kar rahe h.
Kya me subsidy ke liye eligible hu.
Basavaraj Tonagatti
Dear Ravindra,
It is hard to say anything without knowing your employer-based such subsidy scheme. Hence, suggest you to discuss the same with the employer.
S.Esaignanakumar
Sir, I am a BSNL Pensioner monthly pension Rs 25000. I got a housing loan rs 287000/- for renovation of my living house on 20.4.17 from SBI. I have no other pucca house. Sir, I am eligible under PMAY (ie 4% interest Subsidy up to 267000/-
Basavaraj Tonagatti
Dear Esaignanakumar,
Yes.
S.Esaignanankumar
Thank you Sir.
Raj Gaurav
Hi,
What is the definition of Household income? Is it calculated based on Gross Salary (CTC) or Net salary (after Tax deductions)? My Gross salary (CTC) is more than 18 Lakhs but net salary is less than 18 Lakhs.
Basavaraj Tonagatti
Dear Raj,
As per me it is net salary.
shailendra
Hi,
I bought a one-row house 775 sqft and property is with my wife name and me. taken a loan in Sep-2017. My father has also one property on his name in another city. So am I eligible for this scheme?
Basavaraj Tonagatti
Dear Shailendra,
YES.
Ahamed
Hello sir, I am a state govt employee.my monthly pay around 33000-00 and I applied MIG SITE can I avail PMAY SCHEME.
Basavaraj Tonagatti
Dear Ahamed,
Then what is your doubt here?
Harish
Hi, I have a doubt for this scheme. I am co-owner to one of my dad’s property. This property was bought before my marriage. I was also claiming benifit for this property under sec 24. Now I am planning to my own property with co-owner as wife. Am I eligible for PMAY scheme?
Basavaraj Tonagatti
Dear Harish,
As you already an owner of some property, you are not eligible for PMAY.
Harish
Ok Thanks Basavaraj, hard luck 🙁
Shruthi
Hello Sir, me and my husband are planning to purchase a plot (land 1200 sqft) and also immediately planning to construct a home. Our annual income from salary is 8lakh. This is our first home we don’t have any pucca house. Are we eligible for this plan ? how much loan we may get and what is the interest rate ?
Basavaraj Tonagatti
Dear Shruthi,
Yes, you both are eligible for PMAY. Regarding the quantum of loan amount eligibility and interest rate, check with the bank.
Amit Konar
I am an employee of a nationalised bank. Annual income below 7 lac. Going to purchase a 2bhk flat. 1510 sq ft super built area. Loan sanctioned from my bank is below 34 lacs. Loan repayabable upto the age of 75 yrs. My wife is second applicant. Am I eligible for PMAY?
Basavaraj Tonagatti
Dear Amit,
Check the above post properly to cross-check your eligibility. If you still have doubts, then we can discuss.
gaurav
Hello Sir, i got a new flat where i am the co-owner with my mother and my dad owns one flat under his name. can i avail the benefits of PMAY?
Basavaraj Tonagatti
Dear Gaurav,
Please refer the above meaning of family once again.
AQ
Income here means total income or taxable income?
Basavaraj Tonagatti
Dear AQ,
As per me total income.
Eshu singh solanki
Sir i m an engineering students i leave in my own pucca house in village Which is named on my grandfather name and i or my parents have never purchased any property or flat anywhere..can i apply for this yojna on my mother name or on self name…my family income is less than 4.5 lakhs
Basavaraj Tonagatti
Dear Eshu,
If you and your parents not owning the property, then you can apply under PMAY.
sulabh
Dear Sir,
I had purchased a 1 BHK flat worth 29Lakhs which i had availed a home loan from a bank on oct 2016, now i want to transfer loan to other bank in june 2018
I wish to avail the PMAY benefits, but the bank says i am eligible because its a loan takeover or balance transfer case in 2018 and loan again get sanction in2018.
Please clarify….
Basavaraj Tonagatti
Dear Sulabh,
As per me, you are not eligible. If they are saying so, then go ahead.
Laxminarayana
Hi Basavaraj,
I happy to this helpful post
My query is my son having home in his name, he purchased home in 2012 in other city(his job location), now I am staying in village, I don’t have house so can I take loan under PMAY to construct my own house, I don’t have any other house in my name
Basavaraj Tonagatti
Dear Laxminarayana,
If your son is unmarried, then you are not eligible for PMAY. If he is married, then YES.
D.N.Pandey
I have a single pucca room in old constructed parental house which is not suitable for my family. Am i eligible for pmay
Basavaraj Tonagatti
Dear Pandey,
In whose name it is?
Prashant Shekhar
Hi Basaaraj,
I have booked under construction building which has handover date in March 2019 in my name. I am planning to purchase ready to move in property with my wife name and me as co-applicant for loan. Can you please advice if I am eligible for PMAY as our salary is less than 18 LKA.
Thanks,
Prashant
Basavaraj Tonagatti
Dear Prashant,
Refer the above post properly for eligibility.
Prashant
Thanks Basavaraj for quick revert. I can not find any information about under construction status as technically I do now own any house until it’s registered and nor I have taken any loan for previous under construction building.
Thanks,
Prashant
Basavaraj Tonagatti
Dear Prashant,
If you availed the loan on or after 2017, then you are eligible.
S Choudhury
My husband and mother-in-law own a flat jointly. I now wa to buy a flat. My income is below 6 lacs and joint income with my husband is less than 18 lacs. Am I eligible for pmay?
Basavaraj Tonagatti
Dear Choudhury,
As your husband is also the owner of the property, you are not eligible for PMAY.
Eswar
Hello sir present we are living in a pucca house which is on my mothers name. I am not married so am I eligible for this PMAY OR any chance for my FATHER.
Basavaraj Tonagatti
Dear Eswar,
Yes you are eligible but not your father.
Madhu
Hi Basavaraj, very nice post, same is applicable vice versa?
I am son having house in other city and now father want to take loan under PMAY, he is eligible?
Basavaraj Tonagatti
Dear Madhu,
Read the meaning of family once again (written in above post).
ravi
I have took house loan in 2012 for apartment and still I am paying the EMI for that loan. propriety register in my name. Annual income 10 lkh. Am I eligible to get PMAY? please clarify.
Basavaraj Tonagatti
Dear Ravi,
As per me NO.
Deepak
Hi,
Me and my wife were working on a company with our total package around 13 lakhs, however we will be joining new company from June 1st , with our cumulative package around 19 lakhs. We are supposed to buy home and apply for loan on mid of july. Will we be eligible for CLSS (MIG-II) Scheme as our package has increased on new financial year only and till last financial year it was less than 18
Basavaraj Tonagatti
Dear Deepak,
Better to consider the current income and apply accordingly.
Snehal
We have already taken the subsidy for home under Ramaii yojna. And half of the construction is complete,we need more money to complete the rest. So is it possible to avail loan under PMAY
Basavaraj Tonagatti
Dear Snehal,
I am not sure about the Ramaii Yojana. Better to check with your bank for your eligibility.
Saranya
Hi,
I am co-applicant in my husband property and father in law property, now i want to buy a house.
Will i am eligible for PMAY.
Basavaraj Tonagatti
Dear Saranya,
If you have the ownership then you are not eligible. However, you are just a co-applicant for home loan, then yes you are eligible for PMAY.
SHIPAN DAS
HI,
I have purchased a plot in 2012. And taken a plot loan in 2012 which is still running. Now I am planning to purchase flat. Can I avail PMAY. The earlier property is a plot not a pucca house and I have not constructed anything on that. Can I avail PMAY while buying the new flat.
Regards,
Shipan
Basavaraj Tonagatti
Dear Shipan,
You are not eligible for PMAY.
Shipan Das
Thank you for your reply .. My mom is a school teacher now retired… She has a plot… Which she purchased in 2014..Want to construction… Is she eligibilbe???
Basavaraj Tonagatti
Dear Shipan,
It is for newly buyers.
Shipan+Das
No.. She had purchased before 2014… Now she wants to build a house ..
Basavaraj Tonagatti
Dear Shipan,
But as per the rules, one must not own any property to be eligible for PMAY.
Akbar Basha
Hi,
I have purchased the apartment in 2014 and taken loan for the same. But i have sold the apartment which was under my name in May 2018. And now planning to take Home laon with PMAY am i eligible to PMAY subsidy as i don’t have any house registered with my name at present.
Thanks
Shaik
Basavaraj Tonagatti
Dear Akbar,
YES.
Priyaranjan
Hi Basava,
Appreciate your effort for this wonderful blog and replying to each and every post.
My query is i have bought a flat cost 60K in June 2016 and taken a loan in same month but now in May 2018 i have transferred my loan to Federal bank with OD facility. Will i be eligible for PMAY scheme??
Basavaraj Tonagatti
Dear Priyaranjan,
You are not eligible for PMAY.
Ranjan Ghosh
Hi, I have booked Flat under Subvention scheme and Applied loan from DHFL in May 2018 and . This is my first home and i come under Light Income Group (LIG).
but DHFL representative are telling , My property is not coming under the the PIN Code of PMAY Benefits . so i am not eligible for PMAY Benefits.
so is the PMAY Benefits depend on any PIN Code .
Ranjan Ghosh
Hi, I have booked Flat under Subvention scheme and Applied loan from DHFL in May 2018 and . This is my first home and i come under Light Income Group (LIG).
but DHFL representative are telling , if the person is unmarried and staying with his father & mother in perantial house , then he is not eligible for PMAY Benefits.
is it really true …?
Basavaraj Tonagatti
Dear Ranjan,
I am not sure how he arrived at this rule. As per me, whatever the rules are there, I explained. Let him show the notification in this regard.
saravanan
Sir, I have taken 18 lakshs loan from HDFC bank in April 2018 and Registered flat in my name. I have submitted the PMAY documents to the HDFC bank but the bank officer said women ownership is mandatory so they said i am not eligible for PMAY scheme.
i request you please send reply whether i am eligible or not.
my annual income is Rs. 340000
I have applied PMAY LIG Scheme
Basavaraj Tonagatti
Dear Saravanan,
Refer above image, where I mentioned in which cases women ownership is required.
Rohit Prakash
Hello Sir,
I have taken a flat in Oct 2015. I am a self-employed person and filed ITR of 5 lac. Can I claim subsidy under Pradhanmantri Awas Yojna. Property size is 450sqft.
Basavaraj Tonagatti
Dear Rohit,
As you purchased the property before the eligibility date, you are not eligible for the same.
Varun Gupta
Hi sir, My current CTC is 3 lakh but take home salary will be 21,200 after deductions. Will I be able to take the loan 6 lakh under this scheme. If not, can I include any of my family members income to get 6 lakh loan?
Basavaraj Tonagatti
Dear Varun,
You will be eligible for PMAY. But check with your bank whether you are eligible to take the loan of the amount you required.
Varun Gupta
Thank you
John
If my family income (me and wife) is above 18lakhs . Am i still eligible for Pradhan Mantri Awas Yojana (PMAY) under CLSS (MIG-II) Scheme. If the land( i already have) and home (going to construct) in in my name without including my wife (while applying the loan).
Basavaraj Tonagatti
Dear John,
Considering your family income, you are not eligible for PMAY.
John
Thanks for the reply. Just to clarify, if the loan and home is in my name, still i am not eligible? My annual income is less than 18L.
Basavaraj Tonagatti
Dear John,
Yes, in that case also you are not eligible.
John
Thank you so much for the reply.
Udhay
Dear Sir,
I have taken 30 lakshs loan from LIC Housing Finance at March 2017. This is my first home.
Please advise me if i am eligible for the PMAY benefits.
Basavaraj Tonagatti
Dear Udhay,
Please refer the above post for eligibility as it depends on the property size and income also.
Ashish
Hi Sir
I am planning to buy a new house of 760 Carpet area. I want to apply for PMAY and I am in MIG-2 category. me and my family don’t have any home on our name. I have following doubts :
1. I want to take benefit for PMAY and CLSS scheme and SBI Max gain account. is it possible ?
2. Is it possible if I take a PMAY & CLSS scheme (from other bank first) and then transfer my loan to SBI and take the SBI Max gain account. is it possible ?
Basavaraj Tonagatti
Dear Ashish,
1) According to you what is the difference between PMAY and CLSS?
2) Why are you relating PMAY and CLSS to SBI MaxGain?
Samatha
Dear Sir,
I had purchased a 2 BHK flat worth 29Lakhs from a builder for which i had availed a home loan from a bank, now i got the loan transfered to other bank.
I wish to avail the PMAY benefits, but the bank says i am not eligible only because its a loan takeover or balance transfer case.If they process further it will be rejected by NHB.
Please clarify is there any such clause for eligibilty..??
Basavaraj Tonagatti
Dear Samatha,
When you purchased the property?
Samatha
Sir, I purchased property in 2015, and registered that in the year 2016.
Basavaraj Tonagatti
Dear Samatha,
Check the eligibility year for PMAY (in above image).
papai das
Dear sir,
I have home in my dad’s name but I am staying with my wife in different location in a rented home so am i eligible for PMAY benefits
Basavaraj Tonagatti
Dear Papai,
Yes, if you and your wife not owning any property.
Deepak Koli
Hi Sir,
I hv taken home loan on 10.05.2016 and am working in nationalise bank. Am i eligible for CLSS? Please clarify my doubt.
Basavaraj Tonagatti
Dear Deepak,
NO. You are not eligible to apply under CLSS.
dharmendra raj
Hi,this is such brief informative artical. thanks for informations. i and my family dont have any house property anywhere in our name, but nowafter my fathers death my paternal house ownershiop have jointly been named on me , my brothers and my uncle at our hometown .so still do i qualify to attain PMAY benefits?
Basavaraj Tonagatti
Dear Dharmendra,
If you have ownership in the property, then you are not eligible to apply under PMAY.
Arti
I have a question regarding 1 % TDS on property above 50 Lac. We have purchased new flat from builder above 50 Lac. Is this 1 % TDS clause applicable
Basavaraj Tonagatti
Arti-Yes.
Nikita
We have bought Villa of 61 lakh without GST . Land cost 8 lakh in that Villa cost , still TDS is applicable?
Basavaraj Tonagatti
Dear Nikita,
Yes as the purchase price is more than Rs.50 lakh.
nikita
But he saying out of 61 if 11 lakh land cost is deducted then it wont be more than 50 lakh , but sale agreement is of 61 lakh including land cost
Basavaraj Tonagatti
Dear Nikita,
The applicable GST rate is considering the land cost.
ayansh
Sir, Please visit on http;//pib.nic/newsite/PrintRelease.aspx?relid=176285
There is four type recommendation for 8%.
Basavaraj Tonagatti
Ayansh-That I already explained about this in above post.
Jayanti K Menon
Hello Sir,
We were having a 2 BHK flat which we had sold in Dec, 2017 and had gone for new property .we availed a loan from nationalised bank in the month of mar, 2018. Currently myself and husband are not owning any house in any part of India. Please let us know whether we will be eligible under pmay. As the bank has told us we are not eligible because we were having a flat earlier on my husband’s name which we sold in Dec. 2017. We fall under MIG-1 regarding income and flat carpet area.
Basavaraj Tonagatti
Jayanti-As per me, rules are very clear that you must not OWN currently. Hence, you are eligible for this.
Jayshree Kamble
If my loan is sanctioned before 2016. Can I get benefit of PMAY.
Basavaraj Tonagatti
Jayashree-Refer above chart. It is clearly mentioned the applicable date of this scheme. Based on that, you are not eligible for PMAY.
Nitin
Hi,
I’m an NRI with an annual salary of 6 lakhs.I’m planning to build a new house and will be taking a loan for Rs.10 lakhs .
Could you please advise what is the procedure to avail PMAY Benefits.
Basavaraj Tonagatti
Nitin-You have to be in touch with your banker.
Nil Majumdar
Hi,
My father in law had gifted his lease flat (state govt is lessor) to my wife by registered gift deed. Now I want to buy a 1bhk flat and will take home loan. May I eligible for PMAY? Please advice.
Basavaraj Tonagatti
Nil-Whether that is still in leased condition? If yes, then you are eligible for PMAY.
dixti ranka
Hi,
First of all thanks for summary of this.. My question is that I have taken loan and i fall in MIG-1 category. Actually my flat (taken from builder) is under contrution and i have paid installment by home loan. when will i get subsidy like post construction or is it available under construction too.
Secondly, Am i need to do anything to get subsidy. Loan people told that this file automaticlly process for this subsidy. like to whom should i approch? Is it auto?
Dixit Ranka
Basavaraj Tonagatti
Dixit-Once your eligibility approved, then banks adjust the EMI.
Abhishek
Sir, Kindly share your views about PMAY subsidy eligibility if a bank employee opts for staff housing loan where principal amount is recovered during initial 200 EMI and interest is recovered during last 100 installments and the ROI is linked to the cost of fund of the institution during the last financial year.
Basavaraj Tonagatti
Dear Abhishek,
I think in such cases PMAY is not eligible.
RK BHUWALKA
Very shameful to see again and again such indecent ads. What is stopping you from removing them once for all?
RK Bhuwalka
Basavaraj Tonagatti
Bhuwalka-If you have such irritation issue, then you can use ad blocker and read the blog post rather than feeling irritating and commenting me again and again. Regarding blog design, I already replied. Hope you forgot again.
Ramakrishna
If it is so much irritating he should not see this blog.. people want free advise about their money but cant spare few ads.
Basavaraj Tonagatti
Ramakrishna-I feel his intention is different than what he is posing.
Abhi
Sir why hdfc balance fund is not performing upto mark these days..
Basavaraj Tonagatti
Abhi-May I know what prompted you to believe so?
HEMA. C
My loan was approved on 15.07.2016 & my household income per annul is 6-12 lakhs. Will I be able to avail benefit of PMAY scheme.
Basavaraj Tonagatti
Hema-As you fall under MIG-I category and your loan is approved before 2016, you are not eligible to apply for PMAY.
Suraj Naik
Hello Sir,
I have now purchased Flat in resale and availed loan from ICICI Bank in Jan 2018. This is my first home and i come under MIG -1.
I have filled this scheme form cum declaration, while applying for the loan. Now how to track this scheme status in our loan account. Do we need to followup with banks for the Assessment ID to track or with pmaymis department?
Have anyone got the benefit in their loan account? pls guide…
SurajN
Basavaraj Tonagatti
Suraj-Yes, you just have to track the same through your bank.
ayansh
Sir, i was before a small flat and gifted to mother before 2 months back with proper registration. Now i can avail the benefit from pmay for MIG 1 because i am planning to buy new flat under rear CLSS registered schemes.. i was taken that time 4 lakh rs loan but paid 2 years back. Now what will be the scenario ?
Thanks
Basavaraj Tonagatti
Ayansh-If you are currently not own any pucca house either in your name or in the name of any member of your family in any part of India, then you can apply under PMAY.
ayansh
thanks alot Sir.
ayansh
sir, If my mother sell the flat with in the year or after 3 year then any type capital gain or tax will be count .If she sell in double amount as purchase value of the flat(Gifted property 6 lkh value) and she is housewife. Please suggest?
Thanks
Basavaraj Tonagatti
Ayansh-Even if she split also, the combined income for that particular financial year is considered to arrive at taxation.
ayansh
Sir,
I am booking 1440 sqft super builtup area flat and its carpet area is 800 sqft and my loan is approved in PMAY MIG 1 in income (6to 12lk) t but builder is saying only GST benifit 8% will be for only 600 sqft carpet area flats not for 800 sqft. Please light on the issue, is 800 sqft carpet area flat as first home will be eligible for the 8% gst ?
Thanks
Basavaraj Tonagatti
Ayansh-Refer above table for the same.
Ij Yadav
Sir, for how much maximum mete flat carpet are a qualify for 8% because my builder is saying only 60 sqm will qualify for 8% GST and more than this will fall in 12% GST slab. I am taking about maximum qualifying carpet area for 8% GST that is not in the as given table by you sir.
Basavaraj Tonagatti
Yadav-It is already available in above table.
ayansh
sir, hows i can upload a govt. GO for reference and understand wording of 25th jan 2018 to you.?
Basavaraj Tonagatti
Ayansh-That notification I already shared in few below comments. You can cross check. If your sharing is different, then you can email me at tonhokrani@gmail.com.
ayansh
Sir,
As per 3type of benefit are given by the govt in PMAY as per my knwladge. if i am wrong please correct me.
1- lumpsump 2.35 lakh on approoval at loan account
2- interest rate relaxtion 4% for 9 lakh if loan taken less than 35lak for below 50lk price property in MIG1 for 20 years
3 – GST relaxation from 12% to 8% if carpet area is less than 60metre
I know ews, mig 1, mig 2 is eligible for the PMAY but more than 60mtr carpet area is not eligible for the 8% gst benifit they have to pay 12% if he fall in PMAY also? this is my confusion .
Please only clear me gst applicable for 80mt carpet area in pmay?
thanks
Basavaraj Tonagatti
Ayanash-Who said you that you will receive the lump sum immediately after the approval of loan amount?
Sonam
annual income means before deductions?
Basavaraj Tonagatti
Dear Sonam,
It is after deduction.
ayansh
Dear Sir,
I have pasting the article of The Hindu and here is clearly mentione more than 646 sqft area will be not qulify for 8% GST and they have to pay 12% in PMAY.
New Delhi, Jan 26: In a push to promote affordable housing, the Centre reduced the rate of Goods and Services Tax (GST) from 12 per cent to 8 per cent for first time home buyers and the persons buying homes under credit-linked subsidy scheme (CLSS) under Pradhan Mantri Awas Yojna. Under the subsidy scheme, a household with an annual income of Rs 18 Lakh can get the subsidy of Rs 2.7 Lakh on the purchase of a house or apartment of up to 150 square metres (1,615 sq ft) carpet area.
The buyers purchasing homes in project certified under infrastructure status will be able to avail the benefits. However, the size of the apartment must be below carpet area of 646sq ft. Many industry leaders expected the move will result in fall of prices upto 4 per cent.
“The decision will give a push to the real estate sector, particularly affordable housing, as prices will fall by up to 4%,” The Times of India quoted CREDAI chairman Geetamber Anand as saying. He further said the move will help middle-class households in realising their dreams of owning a house. The government has put a cap size of housing unit to avail of the benefit under CLSS. The buyers 1,615sqft carpet area, which is equivalent to around 2,200sq ft built-up area may avail the benefit.
The buyers are GST by the developers on the time of purchase. The taxes paid under GST on inputs are given back on the inputs as credit from the GST paid.
Basavaraj Tonagatti
Dear Ayansh,
Instead of news items, please refer the notification which I shared in above post recently.
ayansh
loan adviser of ICICI bank was saying for lumpsump after approoval home loan from PMAY.
Basavaraj Tonagatti
Ayansh-Let that ICICI Bank Adviser show the ruling.
Aryan
Hi, I have booked Flat under Subvention scheme and availed loan from ICICI Bank in Jan 2016 and now paying EMI till i get flat handover to me. This is my first home and i come under MIG -1.
I just wanted to know can i avail this scheme if i shift my loan from different banks ? or can i ask same bank?
Kindly advice
Basavaraj Tonagatti
Aryan-As your loan was sanctioned before 1st January 2017, you are not eligible for PMAY Benefits.
Arun
Hi Sir,
My name is Arun and my age is 31 and bank give me a loan for 30 year tenure so I am eligible for PMAY scheme??
Basavaraj Tonagatti
Dear Arun,
Your eligibility does not depend on how long they give the loan but based on other parameters also. Please check above eligibility criteria.