Pradhan Mantri Awas Yojana (PMAY) 2026

Last updated: Oct 2026

Pradhan Mantri Awas Yojana (PMAY) is a Government of India housing scheme launched in 2015. Under PMAY-Urban, the Credit Linked Subsidy Scheme (CLSS) credits an interest subsidy to your home loan account at the start of the loan.

• Economically Weaker Section (EWS) and Lower Income Group (LIG) families earning up to Rs. 6 lakh per annum get a 6.5% subsidy on loans up to Rs. 6 lakh.
• The maximum EWS and LIG subsidy is Rs. 2.67 lakh.
• Middle Income Group (MIG) subsidies are capped at Rs. 2.35 lakh (MIG-I) and Rs. 2.30 lakh (MIG-II).
• You and your spouse must not own a pucca house in India.
• The subsidy reduces your outstanding principal, so every EMI falls.

Bajaj Finance home loans start at 7.25% per annum, with tenures up to 32 years. Confirm current CLSS availability on pmaymis.gov.in before you apply, because PMAY-Urban 2.0 terms differ.

Pradhan Mantri Awas Yojana (PMAY) is the Government of India's flagship housing scheme, launched in 2015 with the mission of "Housing for All." It has two distinct components:

• PMAY-Urban (PMAY-U): For urban homebuyers — provides interest subsidies through the Credit Linked Subsidy Scheme (CLSS) for eligible EWS, LIG, and MIG families taking home loans from banks and Housing Finance Companies for purchase or construction of a first home.
• PMAY-Gramin (PMAY-G): For rural beneficiaries — provides direct financial assistance of Rs. 1.20 lakh (plain areas) or Rs. 1.30 lakh (hilly areas) for construction of a pucca house, disbursed via Direct Benefit Transfer through the AwaasSoft system.

Under Pradhan Mantri Awas Yojana Urban 2.0 (PMAY-U 2.0), eligible beneficiaries may receive an interest subsidy of up to Rs. 1.80 lakh under the Interest Subsidy Scheme (ISS), subject to applicable scheme conditions.

Subsidy structure and financial benefits

• Interest subsidy rate: A 4.0% annual interest subsidy applies to the first Rs. 8 lakh of an eligible home loan.
• Maximum benefit cap: The maximum interest subsidy benefit is Rs. 1.80 lakh, with the subsidy released in five equal yearly instalments.
• Disbursement mode: The calculated subsidy is credited to the beneficiary's home loan account in five annual instalments, reducing the outstanding principal and potentially lowering the interest burden over the loan tenure.
• Loan and property limits: The scheme covers eligible home loans up to Rs. 25 lakh for properties valued at up to Rs. 35 lakh, with a maximum carpet area of 120 square metres.

To be eligible for the Pradhan Mantri Awas Yojana (PMAY), applicants under the current PMAY-U 2.0 must belong to an eligible income category, live in an urban area and not own a pucca house anywhere in India. Additional conditions apply depending on the scheme vertical and type of assistance. 

Core eligibility rules

• No existing pucca house: The beneficiary family must not own a pucca house in any part of India.
• Previous housing benefits: A beneficiary or family member who was allotted a house under a Central, State/UT or local government housing scheme during the preceding 20 years is generally not eligible.
• Aadhaar requirement: Eligible beneficiaries, including family members, should have Aadhaar or an Aadhaar Virtual ID linked to their details. 

Income categories

• Economically Weaker Section (EWS): Household income up to Rs. 3 lakh per year.
• Lower Income Group (LIG): Household income above Rs. 3 lakh and up to Rs. 6 lakh per year.
• Middle Income Group (MIG): Household income above Rs. 6 lakh and up to Rs. 9 lakh per year. These eligible income slabs are covered under the PMAY-U 2.0 ISS, subject to other criteria.

1. Visit the official portal: Go to the official PMAY-Urban Portal and select the Apply for PMAY-U 2.0 option.
2. Complete the eligibility check: Enter your state, district and annual household income to check whether you qualify.
3. Select the relevant scheme: Choose Beneficiary Led Construction (BLC) if you are building a house on your own land, Affordable Housing in Partnership (AHP) if you are purchasing a house from a developer, Affordable Rental Housing (ARH) if you are an eligible urban migrant, or Interest Subsidy Scheme (ISS) if you want a home loan interest subsidy.
4. Verify your identity: Enter your 12-digit Aadhaar number, provide consent to access your Aadhaar details and complete verification using the OTP sent to your registered mobile number.
5. Enter your details: Provide your name, marital status, family details, bank account number and IFSC code. Ensure your bank account is linked to Aadhaar.
6. Upload documents: Submit clear copies of the required identity, income and property documents.
7. Submit the application: Confirm the declaration regarding house ownership, enter the captcha and submit the form.
8. Save your Assessment ID: Keep the Assessment ID sent to your mobile number for future reference.
    

Note: PMAY-Gramin (PMAY-G) applications follow a different process and are handled locally through the Gram Panchayat and the Awaas+ platform.

You can check your PMAY application or beneficiary status through the relevant official portal, depending on whether you have applied under the rural or urban housing scheme.

1. Pradhan Mantri Awas Yojana – Gramin (PMAY-G)

• For rural beneficiaries, the official PMAY-G portal provides facilities to search beneficiary details and check the status of eligible households. The Awaas+ 2024 process is being used to update the list of eligible rural households under the current PMAY-G phase.
• Website: Visit the official PMAY-G portal.
• How to check: Select the beneficiary search option and enter your registration number where available. If you do not have a registration number, use the available search options to select details such as your state, district, block and gram panchayat.

2. Pradhan Mantri Awas Yojana – Urban 2.0 (PMAY-U 2.0)

• Applicants under PMAY-U 2.0 can track their application status through the official PMAY MIS portal. The portal provides a dedicated option to track assessment status. 
• Website: Visit the official PMAY MIS portal.
• How to check: Select Citizen Assessment and then Track Your Assessment Status. You can check your status in either of two ways:
  1. By entering your name, father's name and registered mobile number.
  2. By entering your Assessment ID.

1. Check your eligibility on the PMAY-U 2.0 portal
2. Approach a participating lender — banks and Housing Finance Companies (HFCs) covered under the PMAY-U 2.0 Interest Subsidy Scheme
3. Apply for your home loan in the normal manner and provide the required PMAY-U 2.0 details and documents
4. The lender verifies your eligibility and submits the subsidy claim through the designated Central Nodal Agency (CNA) on your behalf
5. The subsidy is released through the CNA to your lender and credited to your home loan account, subject to the scheme conditions
6. Your outstanding loan principal is reduced by the subsidy amount, which can lower your subsequent EMI or reduce the loan tenure, depending on the lender's terms

Bajaj Housing Finance is a participating lender offering eligible borrowers access to benefits under the PMAY-U 2.0 Interest Subsidy Scheme (ISS). Eligible applicants can:

• Apply for a Bajaj Finance Home Loan and seek PMAY-U 2.0 ISS benefits, subject to applicable eligibility criteria
• Benefit from both Bajaj Finance's competitive home loan rates from 7.25% p.a.*  and an interest subsidy of up to Rs. 1.80 lakh under PMAY-U 2.0.
• Access loans up to Rs. 15 Crore* with tenures up to 32 years 

For eligible borrowers, the PMAY-U 2.0 interest subsidy can reduce the outstanding loan balance and the overall interest burden, subject to the scheme's conditions and the amount of subsidy sanctioned.

A PMAY-U 2.0 home loan can combine the lender's applicable interest rate with the government's Interest Subsidy Scheme (ISS), helping eligible EWS, LIG and MIG households reduce their outstanding loan balance. Apply after checking your eligibility, as both the PMAY-U 2.0 registration and home loan application are subject to verification and applicable conditions. Bajaj Finance offers home loans from 7.25% p.a.* with amounts up to Rs. 15 Crore* and tenures up to 32 years. Check your eligibility today.