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What is the eligibility criteria for Pradhan Mantri Awas Yojana?


What felt like a distant dream has now been made possible by the Government of India through the Pradhan Mantri Awas Yojana with a plan to build 20 million affordable houses for the urban poor by the 31st of March, 2022.

The scheme has been designed keeping three categories of people in mind, namely economically weaker section (EWS), lower-income group (LIG) and Middle Income Group (MIG). The primary objective of the scheme is to make housing affordable for all by providing loans on highly subsidized rates of interest. So for those of you who have been eyeing Mahendra Aarna ready to move apartment in electronic city  it won’t be long before you turn your dream into reality.


Families having an annual income up to 6 lakhs fall under the EWS/LIG class, 600,001-1200, 000 fall under MIG-1 and 1200,001 to 1800,000 fall under MIG-2.

To avail of this scheme, the beneficiary family cannot already own a pucca house and should not have availed of any central assistance under any housing scheme from the Government of India. The beneficiary family is defined as having a husband, wife, unmarried sons and/or unmarried daughters. To prevent duplication, the beneficiary family members will have to provide their Aadhar cards at the time of the loan.

Thankfully, though there is a provision where an adult earning member of the family can be treated as a separate household if they do not own a pucca house in their name in any part of the country.

 Under the EWS/LIG, it is mandated that the property be co-owned by a female member of the family. However, this is not compulsory for the construction of a house on an existing plot or updating of existing kuccha/semi-pucca houses.The location of the property should lie within the statutory towns as per the 2011 census and their adjacent planning area. The carpet area for the EWS beneficiaries should be up to 30sqm and for the LIG beneficiaries, it is up to 60sqm. The carpet area under the MIG-1 scheme can be up to 120sqm and for the MIG-2 scheme, it is up to 150sqm. The maximum age limit is 70 years that one should have at the end of the repayment period.

The total deduction from gross income along with the proposed EMI on a home loan is not to exceed 50% of the gross. Net take- home pay should not be less than 50% of the gross income of the applicant/s loan limit up to Rs.10 lakhs. For a loan above Rs.10 lakhs, total deduction from income, including EMI on a proposed home loan is not to exceed 60% of the gross income of the applicant. Now that you know of the eligibility criteria for the scheme and with so many residential projects in electronic city vying for your attention, you would be wise to realize that you make a decision soon. Mahendra Homes with their expertise of having constructed several properties in electronic city and apartments in electronic city would be an excellent choice for your first home. So don’t wait. Book your visit today.

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