In order to get PMAY subsidy, you need to take a home loan.
a. The purchaser and any of the family members should not have another house registered on their name.
b. Annual household income must not exceed Rs. 6 lakh. A “Household” is defined as a husband, a wife and any unmarried children.
c. The house should be purchased on joint registrations of husband wife, or on just the name of the wife.
d. Carpet area of the house purchased should be less than 60 sq m.
e. The scheme can be used to purchase only one unit, per family.
f. The subsidy will always be paid via the provider of housing loan