The PMAY Subsidy Calculator: How Does It Work?

PMAY Subsidy Calculator

The Pradhan Mantri Awas Yojana (PMAY) is a program of the Indian government that aims to increase the number of people who buy homes. The program, which was introduced on June 25, 2015, aims to accomplish “Housing for All” by giving recipients pucca houses by the year 2022.

This article explains the PMAY subsidy calculator in great detail, including how it functions, how to use it, how to check the subsidy status of your subsidy, and more.

The PMAY Subsidy Calculator: How Does It Work?

Using an online financial tool called the PMAY Subsidy Calculator, you may determine how much interest will be subsidized on loans carried out to acquire affordable housing. With a more straightforward interface, anyone may choose the appropriate PMAY category and calculate overall interest savings.

The PMAY subsidy calculator asks for the following information:

  1. The annual household income
  2. Loan repayment schedule
  3. Total borrowed
  4. The carpeting in the property with the open mortgage
  5. If you have already purchased a pucca house in India

You can determine your subsidy category and the amount of interest subsidy you might qualify for based on these parameters. To calculate the amount of savings you can realize through PMAY, you can also utilize a housing loan EMI calculator in conjunction with this tool.

How is the PMAY subsidy impacted?

  • Loan amount

When calculating the PMAY subsidy, the loan size is a crucial factor. According to the loan amount and vice versa, the subsidy will increase. Use a housing loan EMI calculator to make the process easier.

  • Tenure

The amount of support is significantly influenced by the loan period. As the loan tenure increases, the subsidy amount will increase and vice versa. The maximum length of the loan, or 20 years, is 240 months.

  • Annual family income

The annual family income has a big impact on the final subsidy amount. The PMAY program’s subsidy value will decrease as household income rises. The highest subsidy will go to EWS or LIG households, and the lowest would go to MIG II households.

The PMAY Subsidy Calculator: How to Use

You can utilize the PMAY subsidy calculator successfully by doing the following:

Step 1: Go to the PMAY CLSS Awas or CLAP website.

Choose the “Subsidy Calculator” button in step two.

Step 3: Enter the family’s total income. The calculator will automatically place the beneficiary in one of the designated groups.

Step 4: Enter the loan amount at this point.

Step 5: The loan duration must then be entered.

Once all the information has been submitted, the subsidy amount will be displayed on the screen.

What qualifications must one meet to be eligible?

1. The beneficiary must be older than 70.

2. For MIG-I and MIG-II, the beneficiary from the EWS must have a household income between Rs. 6 lakhs and Rs. 12 lakhs, respectively, per year.

3. Applicants may belong to a caste, tribe, or gender that is listed.

4. No member of the beneficiary’s family is permitted to own property in India.

5. Neither the federal nor state governments will make him or her eligible for any PMAY payments or subsidies.

Documents Required for PMAY Scheme Enrolment

The following list of paperwork is needed to enroll in PMAY:

  1. EWS income statement
  2. Aadhar ID
  3. PAN Card
  4. Certificate of voter card category (SC/ST/OBC)
  5. Income documentation, such as pay stubs or income certificates
  6. An MNREGA number
  7. ITR or assessment order most recent
  8. If the property is pre-owned, a title deed or a letter of allotment of the property
  9. A declaration from the beneficiary declaring that neither they nor any of their family members own a home in India.

How to claim for PMAY Subsidy

To claim a PMAY subsidy, complete the following steps:

Step 1: After the loan has been approved, he must give the National Housing Bank (NHB) all relevant information about the property. As required, they will carry out the relevant tests and verification.

Step 2: The NHB will approve the subsidy amount following its complete satisfaction with the claim’s veracity.

Step 3: The home loan lender will get the subsidy amount following NHB clearance.

Step 4: Finally, once all procedures have been followed, the lender will transfer the subsidy amount to the beneficiary’s home loan account and modify the loan amount as necessary.

How to Check the Status of a PMAY Subsidy

The actions one should take to monitor their PMAY status are listed below:

Step 1: Go to the PMAY official website.

Step 2: The beneficiary must next visit the section devoted to citizen assessments.

Step 3: Next, one must choose the track assessment order option beneath this area.

Step 4: The beneficiary will be taken to another page called “track application status” after choosing the option.

Step 5: In this part, you can check your eligibility for subsidies by entering your name, father’s name, and age or by using your assessment ID.


You can estimate how much of the interest on loans made to get low-cost home finance will be subsidized by using an online financial instrument called the PMAY Subsidy Calculator. Anyone can select the right PMAY type and determine overall interest savings with a more user-friendly interface.

By Alex

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