Pradhan Mantri Awas Yojana - Urban 2.0

ISS refers to the Interest Subsidy Scheme, which reduces the effective interest cost of a home loan.

The scheme is valid from September 1, 2024, to August 31, 2029.

• EWS: Annual income up to ₹3 lakh
• LIG: Annual income ₹3–6 lakh
• MIG: Annual income ₹6–9 lakh

All statutory towns, as per the Census 2011, and newly notified urban towns are covered.

Yes, any towns notified by the Government of India will be included.

Up to ₹1.80 lakh depending on eligibility.

Any eligible household without a pucca house and falling within the income category.

The subsidy is credited directly to the borrower’s home loan account.

Basic KYC documents, income proof, and property documents.

Typically, within 3–6 months after loan sanction and disbursal.

Yes, it is active for loans sanctioned from 1st September 2024.

You can track status through the official PMAY-U 2.0 portal or with assistance from Grihum Housing Finance.

Applications can be made directly with Grihum Housing Finance by filling out the PMAY Urban 2.0 loan form and submitting the required documents.

Households under the EWS, LIG, or MIG income groups who do not currently own a pucca house anywhere in India and have not availed housing scheme benefits before are eligible under the PMAY Urban 2.0 Scheme.

EWS (up to ₹3 lakh), LIG (₹3–6 lakh), MIG (₹6–9 lakh) are the income groups that are eligible under the PMAY Urban 2.0 Scheme.

No, you cannot apply for PMAY Urban 2.0 if you already own a pucca house in any part of India.

The maximum loan amount allowed under the PMAY-Urban 2.0 Interest Subsidy Scheme is Rs. 25 lacs. (Subsidy is provided only on the first 8 lacs)

Under PMAY Urban 2.0, a 120 sq. meters carpet area is allowed across EWS, LIG, and MIG categories.

Yes, informal sector workers are eligible under PMAY Urban 2.0 if they fall within EWS/LIG/MIG income groups, while also meeting other conditions, such as not owning a pucca house in India.

Yes, unmarried individuals can apply under PMAY Urban 2.0 if they are eligible.

Under PMAY-U 2.0, female ownership is mandatory for EWS and LIG categories, but not compulsory for MIG categories.

Beneficiary Led Construction (BLC), Affordable Housing in Partnership (AHP), Affordable Rental Housing (ARH), and an Interest Subsidy Scheme (ISS) are the four verticals under PMAY-U 2.0.

Yes, it is possible to take a home loan and receive a PMAY-U 2.0 subsidy, which is credited directly to the loan account to reduce the overall repayment burden.

The subsidy is released in five-yearly instalments through DBT to the loan account, provided that over 50% principal is outstanding and the loan is active at the time of release of the subsidy. PLI credits it to the borrower’s account by deducting it from the principal loan amount.

They must sign a Memorandum of Agreement (MoA) with the Ministry of Housing & Urban Affairs.

If you have received benefits under any Central, State or Local government housing scheme in the last 20 years, you are not eligible under PMAY-U 2.0.

A pucca house is an all-weather dwelling with a roof and walls made of durable materials like burnt bricks, stones with cement/lime, concrete, timber, GI/asbestos/machine-made sheets or tiles.

Every pucca house must have:

• Kitchen
• Toilet
• Electricity connection
• Water connection

House ownership is given in the name of the female head or jointly with the male member. Preference is also given to widows, single women, and transgender applicants.