Pradhan Mantri Awas Yojana (PMAY)

PMAY stands for Pradhan Mantri Awas Yojana which is a Credit Linked Subsidy Scheme (CLSS) introduced by the Central Government of India with the aim of making affordable housing available to various sections of society.

Yes, Piramal Finance offers Home Loans under the PMAY scheme. A beneficiary family not owning a Pucca house (an all-weather dwelling unit) in any part of Bharat is eligible for this subsidy subject to various criteria as defined for the family under various schemes for EWS/LIG/MIG-1 and MIG-2. Through this scheme, the beneficiary is eligible to avail of an interest subsidy on the purchase/construction of a house.

The Pradhan Mantri Awas Yojana subsidy scheme is applicable for a maximum tenure of 20 years.

Considering the numerous applicants for the Pradhan Mantri Awas Yojana, the subsidy will be received within 3-4 months. The government performs thorough verification before approving the subsidies.

Under the PMAY scheme to provide affordable homes, the government will provide an interest subsidy of 6.5% on housing loans for a 20-year tenure.

A borrower can avail of subsidies under the Pradhan Mantri Awas Yojana (PMAY) when they first acquire or construct the house. While the borrower can transfer the home loan balance, they will not be eligible to avail of the subsidy upon the balance transfer.

You can track your PMAY application status on the NHB website www.pmayuclap.gov.in using the application ID provided by Piramal Finance.

The Pradhan Mantri Awas Yojana (PMAY) allows eligible first-time homeowners to claim subsidies against the purchase of their first property, subject to its norms.The PMAY scheme is open to just about any family with an annual income of not more than INR 18 lakh. If you'd like to apply for PMAY subsidy financial advantage, you can do so at either of our divisions. Do you dream of owning your home via the Pradhan Mantri Awas Yojana (PMAY)? Our team of experts will help you at every stage of the application process. Our nearest branch professionals will evaluate your application and process it as soon as possible. Our intention is to streamline the process and make it as quick and easy for you as possible.

Apply for our home loan using the following steps to become eligible for the Pradhan Mantri Awas Yojana:

Once your subsidy is approved, it is adjusted against your home loan automatically. As a result, purchasing your dream home will become more affordable. Our dedicated relationship managers are also available when you need them to answer any questions that you may have about the home loan application process or the PMAY and its status. At Piramal Finance, you will enjoy various benefits when you take a home loan, including flexible tenure and installments to make purchasing a home hassle-free.