Apne Ghar Ka Safar Vastu X PMAY(U) 2.0 Ke Saath Safal

Own your home and avail subsidy benefit upto ₹1.8 Lakh under PMAY (U) 2.0 - Interest Subsidy Scheme (ISS)

Apply Now
Government Scheme
Subsidy Assistance
Pan India Support

What is PMAY(U) 2.0 - Interest Subsidy Scheme (ISS)

Pradhan Mantri Awas Yojana-Urban 2.0 (PMAY-U 2.0) is a Government initiative aimed to help eligible
families reduce their home loan burden through interest subsidy benefits when purchasing (new as well
as resale) or constructing, a home in urban areas.

Key Benefits

Lower EMI Burden

Principal Loan Deducted

Subsidy Release

5 Yearly Installments

Upto ₹1.8L Subsidy

On Loans up to ₹8 Lakhs

Interest Subsidy

4% Subsidy on Home Loans

Eligibility Criteria

EWS
Annual Income
Up to ₹3 lakhs
Subsidy
4% on the first ₹8 Lakh of the loan for 12 years
LIG
Annual Income
₹3-6 lakhs
Subsidy
4% on the first ₹8 Lakh of the loan for 12 years
MIG
Annual Income
₹6-9 lakhs
Subsidy
4% on the first ₹8 Lakh of the loan for 12 years
No pucca house
Women ownership mandatory
Property value ≤ ₹35L
Carpet area up to 120 sq.m
Loan sanctioned after 1 Sept 2024
Home Loan ≤ ₹25L

Documents & Process

To process your PMAY (U) 2.0 application, you are required to submit the following documents.
Note: Vastu reserves the right to request additional documents, if required, on a case-to-case basis.

Aadhaar Cards
(of all family members)
Income proof
Sanction Letter
(of the Home Loan)
Approved Plan
1
Get your home loan
sanctioned and
disbursed from Vastu.
2
Post disbursement, apply for
PMAY(U)-ISS subsidy on the
PMAY(U) portal APPLY NOW OR
Call Us on 7304674978
3
Vastu will review the
application and
approve/reject the
case
4
If approved, the subsidy
will be credited to the
loan account and
customer will get email
notification

FAQs

Everything you need to know

What is PMAY-U 2.0?
Pradhan Mantri Awas Yojana-Urban 2.0 (PMAY-U 2.0) aims to provide Central Assistance to eligible families/beneficiaries through PLIs for constructing or purchasing (new as well as resale) affordable houses in urban areas.
What would be the implementation period of PMAY-U 2.0?
The scheme will be implemented for a period of 5 years starting from 1st Sept’2024 to 2029.
What is the eligibility criteria for seeking benefit under the scheme?
Pls refer to the eligibility criteria section of this page.
What is the definition of beneficiary family under the scheme?
A beneficiary is defined as a family comprising of husband, wife and unmarried children.
What is the definition of EWS, LIG and MIG for the purpose of the scheme?
EWS households are defined as households with an annual income up to ₹3 lakh. LIG households are defined as households with an annual income from ₹3 lakh up to ₹6 lakh. MIG households are defined as households with an annual income from ₹6 lakh up to ₹9 lakh.
What is the coverage of PMAY-U 2.0?
PMAY-U 2.0 covers all statutory towns as per Census 2011 and towns notified subsequently. It also includes Notified Planning Areas and areas within the jurisdiction of Industrial Development Authorities, Special Area Development Authorities, Urban Development Authorities, or any such Authority under State legislation entrusted with urban planning and regulation functions.
Will the newly notified towns be included in PMAY-U 2.0?
Yes, towns notified during implementation period of PMAY-U 2.0 will also be included under the scheme based on gazette notifications of States/UTs with approval from the Ministry of Housing and Urban Affairs (MoHUA).
How is women empowerment promoted under the scheme?
The scheme guidelines mandate ownership of the house to be in the name of female head of the household or in joint ownership with the male member.
What is the cutoff date for eligibility of interest subsidy under ISS vertical?
Subsidy will be provided on home loans sanctioned and disbursed on 01.09.2024 or after to eligible beneficiaries of EWS/LIG and MIG for purchase/ re-purchase/construction of houses.
How much subsidy is permissible under this vertical?
A maximum of ₹1.80 lakh subsidy will be given to eligible beneficiaries under ISS. This subsidy will be credited in 5 equal annual instalments over 5 years.
How will the beneficiary apply for availing the benefit of interest subsidy under the scheme?
The beneficiary interested to avail subsidy will be required to register their demand and provide the PLI details for home loan through Unified Web Portal. Vastu provides complete assistance in applying for PMAY - U 2.0 Interest Subsidy Scheme (ISS), ensuring a smooth process for eligible customers
How Interest subsidy will be released to the beneficiary?
Subsidy will be released in 5 yearly instalments through DBT in loan accounts provided loan is standard and live at the time of release of subsidy and more than 50% principal is outstanding.
Under what circumstances a subsidy be denied to an active loan account of the beneficiary?
The subsidy for a beneficiary shall not be released if the beneficiary Loan account is NPA or principal loan amount outstanding is less than 50%.
Can I claim subsidy again if I transfer my loan?
No, subsidy can be availed only once and cannot be claimed again after a balance transfer.
I have taken a loan of less than 8 Lakhs. How much subsidy will I get?
Please use the subsidy calculator on the PMAY ISS website - https://pmaymis.gov.in/PMAYMIS2_2024/Content/html/Subsidy-Calculator.html
My loan tenure is more than 5 years but less than 12 years. How much subsidy will I get?
Please use the subsidy calculator on the PMAY ISS website - https://pmaymis.gov.in/PMAYMIS2_2024/Content/html/Subsidy-Calculator.html
The home loan must be active at the time of release of subsidy and more than 50% principal should be outstanding