The beneficiary should not own a pucca house in his/her name, or in The name of any member of his/her family in any part of India.
in case of a married couple, either of The spouses or both together in joint ownership will be eligible for a single subsidy.
TheThe beneficiary family should not have availed of central assistance under any housing scheme from The Government of India, or any benefit under any scheme in PMAY.
*As per amendment dated 27.06.2017, an adult earning member (irrespective of martial status) can be treated as a separate household. Provided also that in case of a married couple, either of spouses or both together in joint ownership will be eligible for a single house, subject to income eligibility of the household under the scheme.
The interest subsidy will be credited upfront to the loan account of beneficiaries through HDFC resulting in reduced effective housing loan and Equated Monthly Installment (EMI).