a. The purchaser and any of the family members should not have another house registered on their name.
b. Annual household income must not exceed Rs. 6 lakh. A “Household” is defined as a husband, a wife and any unmarried children.
c. The house should be purchased on joint registrations of husband wife, or on just the name of the wife.
d. Carpet area of the house purchased should be less than 60 sq m.
e. The scheme can be used to purchase only one unit, per family.
f. The subsidy will always be paid via the provider of housing loan

2. What happens if I do not qualify for the PMAY?

Even if you do not qualify for PMAY, you may still qualify for a housing loan. Unicon Group has partnerships with over 5 housing finance companies that have created flexible loan schemes to ensure that no prospect is ever refused a loan and faces monetary issues to buy a house.

4. I am Single, can I still benefit from PMAY?

Yes, you may apply for the PMAY subsidy if you are single, however there are different criteria. Unmarried men can make use of the PMAY subsidy if their mother is the co-applicant. In some cases, they may apply when there is no surviving woman in the family. Unmarried women unfortunately, cannot apply for the PMAY subsidy.

9. How can I apply for PMAY?

a. First you book a flat and apply for a housing loan
b. Bank sanctions your loan
c. Registration of the agreement
d. Your housing finance company / bank submits the claim of the subsidy to National Housing Bank
e. National Housing Bank transfers the amount to your bank
f. Bank deposits the subsidy to your loan account
g. Loan reduces to the extent of the subsidy received and the reduced EMI is set