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Our PLR is revised by 10 basis points effective November 01, 2024. Please contact your servicing branch for more details.

Pradhan Mantri Awas Yojana – Urban 2.0 (PMAY-U 2.0)- Housing for All

PMAY-U 2.0 - Empowering Dreams of Homeownership

The Pradhan Mantri Awas Yojana – Urban PMAY-U 2.0 is an ambitious initiative by the Government of India aimed at providing affordable housing to all citizens, especially to those from economically weaker sections (EWS), lower-income groups (LIG), and middle-income groups (MIG).

Who Can Benefit from PMAY-U 2.0 ?

  • Families from Economically Weaker Sections (EWS), Lower Income Groups (LIG) and Middle-Income Groups (MIG) looking to buy a house in urban areas.
  • First-time homebuyers, who can avail themselves of significant benefits under the scheme.
  • Slum dwellers seeking to upgrade their living conditions.
  • Women who are encouraged to apply as the head of the household.
Who’s eligible for PMAY-U 2.0?
Eligibility Criteria Economically Weaker Sections (EWS) Low-Income Group (LIG) Middle-Income Group (MIG)
Annual Household Income (₹) Up to ₹3 lakh ₹3 lakh - ₹6 lakh ₹6 lakh - ₹9 lakh
Interest Subsidy (% P.A.) 4% on the first ₹8 lakh of the loan 4% on the first ₹8 lakh of the loan 4% on the first ₹8 lakh of the loan
Maximum Property Loan Eligible (₹) ₹25 lakh ₹25 lakh ₹25 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
First Time Home Buyer No No No
Property Location Statutory towns as per Census 2011 or any town subsequently notified by the government

How to Apply for PMAY-U 2.0?

Applying is Hassle Free!

  1. Apply for a Home Loan: You can visit our nearest Sundaram Home branch or give us a call on 9790 800 700.
  2. Apply for the ISS Subsidy (Interest Subsidy Scheme): Our branch representative will guide you through the Interest Subsidy Scheme process if you’re eligible.
  3. Subsidy Disbursal: Once verified, the subsidy amount will be credited directly to your loan account, as a subsidy on your home loan interest.

At Sundaram Home Finance, we’re here to support your journey towards a shelter for everyone!

PMAY v2.0 Subsidy Calculator

Annual Household Income (₹)


Loan Amount (₹)


Property Cost (₹)


Carpet Area (sq.m)

Note: 1 sq.m = 10.764 sq.ft

Is this your first house? Yes No


Is the woman a sole or co-owner of the property? Yes No

Terms and Conditions

1.
Applicant or any of his family members should not own a pucca house in India.
2.
The house should be in the name of the female head of the household or in the joint name of the male head of the household and his wife, and only in cases when there are no adult female members in the family, the house can be in the name of a male member of the household.
3.
Subsidy credit is subject to approval and release of funds by Ministry of Housing and Urban Affairs (MoHUA), Government of India.
4.
The Applicant shall not sell-out or transfer the house constructed under the PMAY 2.0 scheme for a period of Five (5) years.
5.
Final eligibility is subject to verification of the property's village code. Only properties in (MoHUA) approved village code lists will be considered under the scheme.

Please click here to download the MoHUA Scheme Guidelines

Disclaimer: Final subsidy eligibility is determined as per the official PMAY 2.0 Scheme guidelines and subject to verification by the authorities.