RERA ID: A52000011726


The slogan “Sabka Saat, Sabke Vikas” is now a definite possibility with the Pradhan Mantri Awas Yojana (PMAY) finally making flats affordable for scores of families looking to own their very own dream home. The Pradhan Mantri Awas Yojana is a government initiative aimed at providing central assistance to Urban Local Bodies for the rehabilitation of existing slum dwellers using land as a resource through private participation. The PMAY plan is to deliver 2 crore permanent houses by 2022 in urban as well as rural zones.
So, if you are exploring new residential projects, township, developments near Panvel railway station then this PMAY subsidy guide for 1 BHK and 2 BHK flats near Panvel station will greatly help you understand the price relief structure on flats under this innovative scheme. In addition, you consult with a Qualcom PMAY expert to take you through and help you better understand the scheme.

The Scheme 

The Pradhan Mantri Awas Yojana enables housing loan seekers to receive subsidies of upto Rs 2.67 lakhs on their loan amount.
Here’s explaining the PMAY’s credit linked subsidy scheme in detail for your easy reference.
The beneficiaries are classified into four categories based upon their yearly income.
The below mentioned chart lists the category types and their respective interest subsidies

Category Type

Household Income

Carpet Area

Interest Subsidy

Subsidy on max loan of

Loan Reason

Max Subsidy


Upto 6,00,000p.a.



Rs 6,00,000

Purchase Const/Ext.

Rs 2.67 Lakhs

MIG 1**

Rs 6,00,001 to Rs 12,00,000

120 sqm


Rs 9,00,000

Purchase/ Construction

Rs 2.35 Lakhs

MIG 2**

Rs 12,00,001 to 18,00,000

150 sqm


Rs 12,00,000

Purchase/ Construction

Rs 2.30 Lakhs

The beneficiary family will comprise a husband, wife and unmarried children.
Married children will be treated as separate family.

PMAY Scheme Specifics

1.    Aadhar number(s) of the beneficiary family are mandatory for MIG category.
2.    The interest subsidy will be available for a maximum 20 year loan tenure or the loan tenure whichever is lower.
3.    The interest subsidy will be credited upfront to the loan account of beneficiaries thereby ensuring reduced effective housing loan and Equated Monthly Instalment (EMI).
4.    The Net Present Value (NPV) of the interest subsidy will be calculated at a 9% discount rate.
5.    The additional loan beyond the specified limits, if any will be given at non-subsidized rate.
6.    There is no cap on the loan amount or the cost of the property