PMAY-U 2.0 Scheme Overview
Looking for a government subsidy to make your dream home a reality? With PMAY-Urban 2.0, the Government’s flagship scheme, you can enjoy an interest subsidy on your home loan, making homeownership more affordable for eligible families.
At ICICI Home Finance, we make the process smooth and easy, so you can focus on what matters most—your new home.
Key Features of PMAY-Urban 2.0
Sustainable Housing
PMAY-Urban 2.0 supports eco-friendly homes, reducing long-term living costs through energy-efficient designs.
Inclusivity
The scheme ensures equal access to homeownership for all, with special focus on empowering women, transgender individuals, and other underrepresented groups.
Technological Advancement
Modern construction techniques make homes more efficient and quicker to build, so you can move into your new home sooner.
Why PMAY-Urban 2.0 is Great for You ?
Save More on Your Home Loan
Get an interest subsidy of up to ₹2.67 lakh over the tenure of your loan, making your dream home more affordable.
Lower EMIs or Extended Tenure
Choose between reducing your monthly EMIs or extending your loan tenure, based on what suits your financial needs.
More Families Can Benefit
PMAY-Urban 2.0 opens doors for more people to qualify, whether you're a first-time buyer or purchasing within the income limits.
More Affordable Homes
PMAY-Urban 2.0 supports a wide range of homes, including pucca houses, flats and other types of properties, so you can qualify for the subsidy regardless of the kind of home you're purchasing.
Who’s Eligible for PMAY-Urban 2.0?
| Eligibility Criteria | EWS | LIG | MIG I |
| Annual Household Income (₹) | Up to ₹3 lakh | ₹3 lakh - ₹6 lakh | ₹6 lakh - ₹9 lakh |
| Interest Subsidy (% P.A.) | 4% | 4% | 4% |
| Maximum Housing Loan Eligible (₹) | ₹3 lakh | ₹6 lakh | ₹9 lakh |
| Maximum House Value (₹) | ₹35 lakh | ₹35 lakh | ₹35 lakh |
| Maximum Carpet Area(sqm) | 120 sqm | 120 sqm | 120 sqm |
| Maximum Benefit of Interest Subsidy (₹) | ₹1.80 lakh | ₹1.80 lakh | ₹1.80 lakh |
| Maximum Benefit (NPV) | ₹1.50 lakh | ₹1.50 lakh | ₹1.50 lakh |
| No Current Home Ownership | NO | NO | NO |
| Property Location | Must be in a listed town or city | Must be in a listed town or city | Must be in a listed town or city |
| Age Limit | 18-70 years | 18-70 years | 18-70 years |
| Loan Tenure | 15-30 years | 15-30 years | 15-30 years |
What You Need to Know
- Subsidy Details: A subsidy of 4% per annum on your home loan can significantly lower your EMIs. Save up to ₹2.67 lakh, depending on your income group.
- Home Ownership Criteria: You, your spouse, and unmarried children must not own a pucca house anywhere in India.
- Property Location: The property must be in a listed town or city according to the government’s Census 2011 or newer towns added later
How to Apply for PMAY-Urban 2.0?
It’s easy! Just follow these steps:
1. Apply for a Home Loan: You can apply online through our website, on the mobile app, or even call our toll-free number.
2. Apply for the CLSS Subsidy: If you qualify, apply for the Credit Linked Subsidy Scheme (CLSS) through us. We’ll guide you through the process.
3. Subsidy Disbursed: After verification, we’ll transfer the subsidy amount directly into your loan account, reducing your loan balance.
At ICICI Home Finance, we’re here to make the process as smooth as possible. Let us help you own your dream home
