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Aditya Birla Housing Finance Limited
Pmay

Pradhan Mantri Aawas Yojna aur Aditya Birla Housing Finance Ke Saath Karein Aapke Pariwar ka Pehla Ghar Mumkin!

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About Pmay
PMAY-U 2.0

PMAY-U 2.0 is one of the major flagship programmes being implemented by Government of India to provide all-weather pucca houses to all eligible beneficiaries in the urban areas. The Government assistance under PMAY-U 2.0 will be upto 1.80 lakh per unit under Interest Subsidy Scheme.

Used for :
  • •   Purchase / Construction of Pucca House
  • •   Affordable Housing under Government Subsidy Scheme
  • •   Home Purchase
  • •   Home Construction
  • •   Plot + Construction

*Download to get more details about the scheme

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Key Features & Benefits
Key Benefits with Interest Subsidy Scheme to Make Homeownership Easier
Maximum Loan Amount

Up to ₹25 Lakh

Maximum House Value

Up to ₹35 Lakh

Maximum Subsidy

Up to ₹1.80 Lakh paid in 5 Annual Installments

Interest Subsidy Benefit

Subsidy of 4% on first ₹8 Lakhs for 12 years

Eligibility Criteria
Eligibility Criteria

Applicants must satisfy the below eligibility conditions to apply under PMAY-U 2.0 scheme.

General Criteria:

Property Ownership:

Applicant / Family must not own a pucca house in India

Women Ownership:

Women must be owner or co-owner and must be part of loan structure

EWS Income:

Annual Household Income up to ₹3 Lakh

LIG Income:

Annual Household Income ₹3 Lakh to ₹6 Lakh

MIG Income:

Annual Household Income ₹6 Lakh to ₹9 Lakh

Applicable Property Size:

Up to 1290 Sqft (120 Sq.mtr)

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Family celebration
Family celebration

Note: Final approval subject to Government and lending institution guidelines.

Step-by-Step Guide
Step-by-Step Guide: How to Apply for PMAY-U 2.0?

Taking the first step toward your dream home is easier than you think. Follow these straightforward steps to apply for the PMAY-U 2.0:

1.   Check Your Eligibility

(a) Ensure you fall under Economically Weaker Section (EWS), Low Income Group (LIG) OR Middle-Income Group (MIG) Categories, (b) Verify that you do not own a pucca house anywhere in India

2.   Add Co-Applicant

Ensure a female or transgender family member is a co-owner of the property, unless the household has no adult female member or the applicant is a widower, unmarried, separated, or a transgender individual.

3.   Submit Documents

Upload identity, income, and property documents online.

4.   Loan Processing

ABHFL processes your loan and applies the eligible subsidy on your behalf.

5.   Get Subsidy Benefit

Approved subsidies are disbursed in instalments over 5 years.

Estimated Processing Time: The loan application process typically takes around 5 to 10 working days, depending on the timely submission of documents and successful property evaluation.

Fees & Charges
Comprehensive details of all applicable fees, charges, penalties, and statutory costs for PMAY-U 2.0.
Loan Processing Administration Fee

0.25% onwards of the loan amount + applicable GST (may vary as per customer risk profile).

Part Payment / Pre Closure / Foreclosure Charges
Late Payment Penalty

12% p.a. above current applicable interest rate (aggregate not exceeding 24% p.a. + GST).

Non-submission of Critical Post Disbursement Documents

₹3,000 per month (for delay in submission of Title document, Security perfection documents, Mortgage Deed, Charge creation with MCA, or non-adherence to loan agreement terms).

Cheque Bouncing / NACH Failure Charges

₹750 per instance.

Non-submission of Revised NACH / ECS Debit Mandate

₹1,000 per month in case of secured loans (for invalid, inactive, or closed/frozen bank accounts).

Charge for Exchanging NACH Mandate

₹750 per instance per loan account.

Accrued Interest

As applicable based on actual delayed status or as communicated by the lender from time to time.

CERSAI Charges

When facility amount is equal to ₹5 Lakhs or lesser – ₹0.50 per property | When facility amount is greater than ₹5 Lakhs – ₹100 per property.

Pre-Closure Quote

₹1,000 per instance.

Request for Copies of Collateral Held with ABHFL

₹750 per instance.

Duplicate Statement / Repayment Schedule / Any Other Document

₹200 per instance.

Cheque Return Charges / ECS Failure Charges

₹750 per instance.

CIBIL Report Retrieval Fee

₹50 per instance for Consumer | ₹500 per instance for Commercial CIBIL.

Loan Re-schedulement Charges

0.5% of principal outstanding + applicable GST (Change in EMI/tenor as per eligibility norms).

Revision of Rate Within the Same Interest Type

0.25% + GST on principal outstanding (capped at ₹7,500 per instance).

NOC Issuance Charges

₹500 per instance.

Swap Charges (Switch from Fixed Rate to Floating Rate and Vice Versa)

2% of principal outstanding + applicable GST.

Stamp Duty, Legal and Other Statutory Charges, Insurance Premium, Creation Charge with ROC

As per actual, where applicable.

General Note

Wherever applicable, GST @ prescribed rates will be levied on these charges.

Documentation
Documents Required

Make sure to have the following documents ready for quicker processing:

1.Personal Documents

Identity Proof (Aadhaar, PAN, Voter ID)

Address Proof (Utility bills, Aadhaar, Passport)

Passport-size Photographs

2.Financial Proof

3.Bank Statements

4.Approved Building Plan

Document Stand
EMI/Eligibility Calculator

Easily calculate EMIs and check eligibility with our user-friendly tools.

5L- 25Cr (min-max)
7.75%-20% (min-max)
1yr-30yrs (min-max)
Total Payment (Principal + Interest)
₹0

*Note- The calculated interest is an estimate, the final amount will be determined upon approval.

Check Eligibilty
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Have Any Questions?

Find answers to all your home loan queries in our FAQ section. Learn about eligibility, loan tenures, interest rates, required documents, application process, and more. Simplify your journey to owning your dream home with clear guidance.

You must not own a pucca house in India and should belong to the EWS, LIG, or MIG income categories.

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