PMAY Home Loan Subsidy 2026 – Eligibility, Amount & How to Apply

🏠 What is PMAY?

Pradhan Mantri Awas Yojana (PMAY) is the Government of India's flagship housing scheme. Under the Credit Linked Subsidy Scheme (CLSS), eligible home buyers get a direct interest subsidy on their home loan — credited to the loan account upfront, reducing your EMI from day one.

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Up to ₹2.67 Lakh

Maximum Interest Subsidy

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6.5% p.a.

Subsidy Rate (EWS/LIG)

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₹45 Lakh

Max Loan for Subsidy

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20 Years

Max Loan Tenure Covered

PMAY Categories & Subsidy Details

Category	Annual Income	Subsidy Rate	Max Loan for Subsidy	Max Subsidy
EWS (Economically Weaker Section)	Up to ₹3 Lakh/yr	6.5%	₹6 Lakh	₹2.67 Lakh
LIG (Low Income Group)	₹3–6 Lakh/yr	6.5%	₹6 Lakh	₹2.67 Lakh
MIG-I (Middle Income Group I)	₹6–12 Lakh/yr	4%	₹9 Lakh	₹2.35 Lakh
MIG-II (Middle Income Group II)	₹12–18 Lakh/yr	3%	₹12 Lakh	₹2.30 Lakh

Eligibility Criteria

First-time home buyer — no pucca house in your or spouse's name anywhere in India
Must be an Indian citizen
Property must be in your name or jointly with spouse
Beneficiary family means husband, wife and unmarried children
Women co-ownership is mandatory for EWS and LIG categories
Aadhaar card is mandatory for all applicants

Documents Required

Aadhaar card (mandatory) of all applicants
Income proof — salary slips / ITR / Form 16
PAN card
Bank statements (6 months)
Property documents — sale agreement / allotment letter
Affidavit declaring no pucca house owned anywhere in India
Caste certificate (for EWS category)

How to Apply — Step by Step

Contact Guhan Capitals

We assess your eligibility — income category, property value, existing home ownership — in a free 15-min consultation.

Choose the right bank

We connect you with our partner banks (SBI, HDFC, ICICI, Axis, Bank of Baroda) who are registered PMAY lenders.

Submit application to bank

The bank processes your home loan application along with PMAY subsidy claim — we handle all paperwork.

Bank verifies & sends to NHB/HUDCO

The bank forwards your subsidy claim to National Housing Bank (NHB) or HUDCO for verification.

Subsidy credited to your account

Once approved (typically 3–6 months), the subsidy amount is credited directly to your loan account, reducing your outstanding principal and EMI.

💡 Real Example: If you take a ₹20 lakh home loan at 8.5% for 20 years under LIG category — after PMAY subsidy of ₹2.67 lakh credited upfront, your effective loan becomes ₹17.33 lakh, saving you ₹2,100/month on EMI.

Apply Through Guhan Capitals — It's Free

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Frequently Asked Questions

Is PMAY still active in 2026?▼

PMAY-Urban 2.0 was launched in 2024 with a target of 1 crore houses. New applications are being accepted. Check with our team for the latest eligibility window.

Can I apply for PMAY if I already have a home loan?▼

If you have taken a home loan before but have not availed PMAY subsidy, you may still be eligible. The key condition is that you should not own a pucca (permanent) house in your or your spouse's name anywhere in India.

How long does PMAY subsidy take to credit?▼

Typically 3 to 6 months after the bank submits your claim to NHB/HUDCO. The subsidy is credited directly to your loan account by the bank.

Can a single woman apply for PMAY?▼

Yes. Single women, widows, and female-headed households are eligible. For EWS and LIG, women co-ownership or sole ownership is mandatory.

What is the maximum property size allowed?▼

For EWS: 30 sq. metres. For LIG: 60 sq. metres. For MIG-I and MIG-II there is no carpet area restriction for the loan, but the subsidy is capped on the first ₹9 lakh and ₹12 lakh respectively.