FAQs - Pradhan Mantri Awas Yojana (PMAY)



Adult female membership is required in property structure. In case of absence of an adult female member in a household, the property can be registered in the name of a male member only.

  • For EWS/LIG - Husband, Wife and unmarried children constitute household/Beneficiary Family
  • For MIG - Husband, wife and unmarried children
  • An adult earning member (irrespective of its marital status be considered as separate household)

Following documents need to be submitted to the branch officer as per IIHFL Credit Policy. The list of documents is mentioned below:

  • Aadhaar of all household members
  • Notarized Affidavit cum Undertaking is mandatory

As the household does not own a Pucca house, he can apply for subsidy under the scheme subject to additional qualifiers such as annual household income, property in urban/adjacent area etc.

Subsidy amount shall not be adjusted against tenure. The impact of subsidy would be adjusted against principal only, further impacting EMI amount.

  • EWS/LIG - No, there is no capping on minimum/maximum property value or area as per the scheme guidelines issued by the Ministry of Housing and Urban Poverty Alleviation
  • 160 mtrs & 200 mtrs in MIG I & II

No, household cannot take the benefit under CLSS as spouse in beneficiary family/household already owns one property.

Scheme mentions that “The beneficiary family should not own a pucca house either in his/her name or in the name of any member of his/her family in any part of India to be eligible to receive central assistance under the mission”

Therefore, beneficiary family already owning shop, commercial establishment, plot, factory but not owning a pucca house clears the eligibility parameter of 1st house ownership.

The income norms for various Household categories are defined as under:

  • Annual Household Income of EWS/LIG should be less than Rs. 6 Lakhs
  • Annual Household Income of MIG 1 should be Rs. 6-12 Lakhs
  • Annual Household Income of MIG 2 should be Rs. 12-18 Lakhs

Post disbursement of the loan amount, IIFL Home Loans may claim the subsidy benefit for eligible borrowers from National Housing Bank(CNA). .On receipt of Subsidy amount from CNA, the Principal Outstanding in Home Loan Account of the Customer is reduced to the tune of Subsidy amount. Accordingly, EMI of the Customer is reduced

A Customer is eligible for maximum subsidy if the disbursed amount is equal to or more than Rs. 6 lakhs in EWS/LIG category, 9 lakhs in MIG 1 category, 12 lakhs in MIG 2 category and loan tenure is of 20 years. In case Loan disbursement or tenure is below the above-mentioned limits, subsidy would be reduced proportionately. Kindly refer to the subsidy calculator.

  • EWS/LIG - upto 2.67 Lakhs
  • MIG 1 - upto 2.35 Lakhs
  • MIG 2 - upto 2.30 Lakhs

Repairing work to the existing house can be undertaken in houses which are kutcha, semi pucca and require extensive renovation to make it into a pucca house. However, this is applicable only for applicants in the EWS/ LIG categories.


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