Pradhan Mantri Awas Yojana Subsidy Calculator

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Home Loan EMI Calculator

PMAY Subsidy Calculator

Pradhan Mantri Awas Yojana Subsidy Calculator

Annual Family Income

1,000 18,00,000

Home Loan Amount

1,00,000 30,00,000

Tenure

36 Months 360 Months

Carpet Area(Sq M)

50 sq 200 sq

Is this your First pucca House?

Yes

Subsidy Category

MIG-II

Middle Income Group (MIG)
Subsidy Amount

2,30,156

The Pradhan Mantri Awas Yojana (PMAY) is an Indian home loan scheme launched by the government to encourage homeownership. It provides a line of credit to those who don’t own a pucca house and want to build one.

What is a PMAY Subsidy Calculator?

An online PMAY Subsidy Calculator is a home loan subsidy calculator that can help you estimate the interest subsidy you are eligible for on a home loan. You need the loan amount and the loan duration to calculate your subsidy. Poonawalla Fincorp’s online PMAY subsidy calculator is one of the best tools available to help you estimate your interest subsidy.

Eligibility for PMAY

The borrower should not already own a pucca house in their name or any family member’s name in any part of India.
In the case of a joint application by spouses, only a single subsidy will be provided.
The borrower or their family members should not have an existing housing scheme assistance from the government or any benefit under PMAY.
If you are married, you can take the benefit of joint ownership.

What Are the Categories Under PMAY?

There are three categories to choose under the PMAY scheme:

CATEGORY	INCOME	CARPET AREA	MAXIMUM SUBSIDY	VALIDITY OF SCHEME
EWS AND LIG	>= ₹6 lakh	EWS – 30 sq.m LIG – 60 sq.m	₹2.67 lakh	31st March, 2022
MIG I	₹6 lakh- ₹12 lakh	160 sq.m	₹2.35 lakh	31st March, 2021
MIG II	₹12 lakh- ₹18 lakh	200 sq.m	₹2.30 lakh	31st March, 2021

How To Use The PMAY Subsidy Calculator

Step 1: Visit the calculator webpage and choose ‘Subsidy Calculator’
Step 2: Enter the following details:
- Annual family income
- Home loan amount
- Tenure
- Carpet area
Step 3: Choose either ‘Yes’ or ‘No’ for the question, ‘Is this your first pucca house?’
Step 4: View the results on the right side of the page under sections, ‘Subsidy Category’ and ‘Subsidy Amount’