Pradhan Mantri Awas Yojana (PMAY) 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.

Pradhan Mantri Awas Yojana (PMAY) continues to support eligible households seeking a pucca house in rural and urban India. The latest developments include additional funding under PMAY-Gramin (PMAY-G), ongoing beneficiary identification, and progress under PMAY-Urban 2.0 (PMAY-U 2.0).

PMAY-Gramin (PMAY-G)
 

On 28 May 2026, the Ministry of Rural Development announced a Mother Sanction of Rs. 10,021.42 crore for 12 states under PMAY-G. The states include Assam, Chhattisgarh, Gujarat, Haryana, Himachal Pradesh, Jharkhand, Karnataka, Kerala, Punjab, Rajasthan, Tamil Nadu and Uttar Pradesh. The announcement followed an earlier sanction of Rs. 11,121 crore for FY 2026–27.

The Awaas Plus 2024 survey and mobile application support the identification of eligible rural households under the scheme. Rural applicants can use the official PMAY-G portal to find scheme information and check the relevant beneficiary or payment-status services available online. The availability of a listing or payment update does not, by itself, guarantee approval or release of assistance.

PMAY-Urban 2.0 (PMAY-U 2.0)
 

Launched in September 2024, PMAY-U 2.0 aims to address the housing needs of eligible urban families in the EWS, LIG and MIG categories, with annual household income of up to Rs. 9 lakh. The scheme has four components covering individual house construction, affordable housing projects, interest subsidy on eligible home loans and affordable rental housing.

The scheme’s guidelines also prioritise a woman’s ownership or co-ownership of the house, subject to the applicable provisions. Applicants can visit the official PMAY-U 2.0 portal to review eligibility information, apply through the available services and track an application.

Eligibility, assistance and application status depend on the scheme guidelines and verification by the relevant authorities. Check the official portal for the latest requirements before applying.

Pradhan Mantri Awas Yojana–Urban (PMAY-U) and PMAY-U 2.0 have collectively crossed 1.25 crore sanctioned houses, with over 1 crore completed and delivered. The Ministry of Housing and Urban Affairs announced this milestone on 9 August 2026.

Over 2 Lakh More Houses Sanctioned
 

At its eighth meeting on 6 August 2026, the Central Sanctioning and Monitoring Committee approved over 2.09 lakh houses for Economically Weaker Section (EWS) families across 16 states and Union Territories. These included around 1.42 lakh houses under Beneficiary Led Construction (BLC) and 67,045 under Affordable Housing in Partnership (AHP).

With these approvals, PMAY-U 2.0 had sanctioned over 18.38 lakh houses and beneficiaries across its four components: BLC, AHP, the Interest Subsidy Scheme (ISS) and Affordable Rental Housing (ARH).

Focus on Women and Vulnerable Groups
 

Of the 1.25 crore houses sanctioned under PMAY-U and PMAY-U 2.0, 1 crore were allotted in women’s names or under joint ownership. The latest approvals also covered senior citizens, Scheduled Caste and Scheduled Tribe communities, Other Backward Classes and other eligible vulnerable groups.

Launched in June 2015, PMAY-U aims to improve access to affordable housing in urban areas. PMAY-U 2.0 targets an additional 1 crore eligible urban families with annual household incomes of up to Rs. 9 lakh. Assistance is subject to scheme eligibility and applicable guidelines.

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.

The PMAY Urban vs PMAY Gramin comparison covers two components of the PMA Yojana: PMAY-U, governed by the Ministry of Housing and Urban Affairs, and PMAY-G, implemented by the Ministry of Rural Development. Launched on 25 June 2015, PMAY-U supports eligible urban households, while PMAY-G’s original target was 2.95 crore rural houses.

If you are exploring a home loan alongside Pradhan Mantri Awas Yojana benefits, review the applicable scheme conditions and home loan eligibility with Bajaj Finance.

Bajaj Finance is a participating lender under the PMAY-U 2.0 Interest Subsidy Scheme (ISS). Eligible EWS, LIG and MIG applicants may receive an interest subsidy of up to Rs. 1.80 lakh, subject to scheme conditions and verification.

Bajaj Finance Home Loan offers interest rates starting from 7.50% p.a.*, loan amounts up to Rs. 15 crore* and tenures of up to 32 years. Eligible borrowers can explore a home loan and check whether they qualify for PMAY-U 2.0 benefits.

If you’re planning to buy a home, check your home loan eligibility with Bajaj Finance.