PMAY-U 2.0 (Pradhan Mantri Awas Yojana – Urban) is a Government of India affordable housing scheme under the ‘Housing for All Mission’. It provides financial assistance and interest subsidy on home loans to eligible urban families for building, buying, or renting a pucca house.
Urban families from Economically Weaker Section (EWS), Low Income Group (LIG), and Middle-Income Group (MIG) who do not own a pucca house anywhere in India.
A pucca house has durable walls and a roof made of permanent materials like bricks, cement, or concrete.
A family includes husband, wife, and unmarried children. Dependent parents and spouses are also considered part of the beneficiary family.
At Mahindra Home Finance the loan amount depends on:
All statutory towns and notified urban planning areas across India.
Applications can be submitted:
By offering financial aid and interest subsidies, PMAY-U 2.0 makes home ownership more accessible for urban families.
House ownership is encouraged in the name of the female head of the family or jointly with a male member.
ISS provides interest subsidy on home loans for eligible EWS, LIG, and MIG families, reducing EMIs and making housing affordable.
Eligible beneficiaries can get up to ₹1.80 lakh subsidy under the Interest Subsidy Scheme.
Eligibility depends on income level, house ownership, loan amount, property value, and carpet area.
No. There is no processing fee for eligible loan amounts under PMAY-U 2.0.
No. It varies based on loan amount and tenure, capped at ₹1.80 lakh.
No. Any remaining subsidy is cancelled and not recoverable.
Yes, if it complies with scheme guidelines.
Yes. They are considered part of the beneficiary family.
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