Pradhan Mantri Awas Yojana – Urban 2.0 (PMAY-U 2.0)- Housing for All
PMAY-U 2.0 - Empowering Dreams of Homeownership
The Pradhan Mantri Awas Yojana – Urban PMAY-U 2.0 is an ambitious initiative by the Government of India aimed at providing affordable housing to all citizens, especially to those from economically weaker sections (EWS), lower-income groups (LIG), and middle-income groups (MIG).
Who Can Benefit from PMAY-U 2.0 ?
- Families from Economically Weaker Sections (EWS), Lower Income Groups (LIG) and Middle-Income Groups (MIG) looking to buy a house in urban areas.
- First-time homebuyers, who can avail themselves of significant benefits under the scheme.
- Slum dwellers seeking to upgrade their living conditions.
- Women who are encouraged to apply as the head of the household.
Who’s eligible for PMAY-U 2.0?
| Eligibility Criteria | Economically Weaker Sections (EWS) | Low-Income Group (LIG) | Middle-Income Group (MIG) |
|---|---|---|---|
| Annual Household Income (₹) | Up to ₹3 lakh | ₹3 lakh - ₹6 lakh | ₹6 lakh - ₹9 lakh |
| Interest Subsidy (% P.A.) | 4% on the first ₹8 lakh of the loan | 4% on the first ₹8 lakh of the loan | 4% on the first ₹8 lakh of the loan |
| Maximum Property Loan Eligible (₹) | ₹25 lakh | ₹25 lakh | ₹25 lakh |
| Maximum House Value(₹) | ₹35 lakh | ₹35 lakh | ₹35 lakh |
| Maximum Carpet Area(sqm) | 120 sqm | 120 sqm | 120 sqm |
| Maximum Benefit of Interest Subsidy (₹) | ₹1.80 lakh | ₹1.80 lakh | ₹1.80 lakh |
| First Time Home Buyer | No | No | No |
| Property Location | Statutory towns as per Census 2011 or any town subsequently notified by the government | ||
How to Apply for PMAY-U 2.0?
Applying is Hassle Free!
- Apply for a Home Loan: You can visit our nearest Sundaram Home branch or give us a call on 9790 800 700.
- Apply for the ISS Subsidy (Interest Subsidy Scheme): Our branch representative will guide you through the Interest Subsidy Scheme process if you’re eligible.
- Subsidy Disbursal: Once verified, the subsidy amount will be credited directly to your loan account, as a subsidy on your home loan interest.
At Sundaram Home Finance, we’re here to support your journey towards a shelter for everyone!