With the increase in cost of living and a competitive society, it has become quite strenuous to survive, although our basic survival needs are water, food, clothes and shelter. But, as we live in the 21st century, our generation requires a lot more. We all require our own space, a place where we are free to be ourselves, a place that keeps us safe, a place that defines us, a space that we can share with our loved ones – that place we call our home. We all wish for a home where we can experience comfort with luxury, grandeur and peace but at an affordable price.

The population growth rate of India, it is 1.2% annual change (2015) and the population growth rate of the Ahmedabad is 6.17% (2017) (Source: Worldpopulationreview.com), but not everyone owns a house, due to the high prices. In order to change these statistics, Government of India has introduced some schemes such as, Pradhan Mantri Awas Yojna (PMAY), National Urban Livelihoods Mission (NULM), Rajiv Awas Yojna (RAY), Jawaharlal Nehru National Urban Renewal Mission and others.

Bakeri Group offers housing under Pradhan Mantri Awas Yojana


The Pradhan Mantri Awas Yojana (PMAY)  was launched in June 2015 with an aim to build affordable houses with electricity, sanitation and water facility made available 24/7. It is a step taken by the government to convert the dream of  ‘Housing for all’ into a reality by 2022.

PMAY is the chief assistance to Urban Local Bodies with some very important function such as:

  • Credit Linked Subsidy
  • Affordable Housing in Partnership
  • Subsidy for beneficiary-led individual house construction/enhancement

Initially the scheme was designed for people in the EWS (annual income not exceeding ₹3 lakh) and LIG (annual income not exceeding ₹6 lakh) sections and has recently extended its availability to the housing needs of the mid-income group (MIG). Last month the amount was doubled for the loan eligible for interest benefits under the PMAY in urban areas to ₹12 lakh.

PMAY Benefits

Availability of an interest subsidy of 3 percent to 6.5 percent for loans ranging between ₹6 lakh and ₹12 lakh. Last month, the Government had increased the loan amount to ₹12 lakh, targeting the mid-income category. The interest subsidy on loans upto ₹12 lakh will be 3 per cent. In rural areas, a grant of 3 percent interest on loans up to ₹2 lakh for constructing new homes or extension of old home is offered. The PMAY brings in a ray of motivation for India’s construction and realty sector to think beyond getting focused sales from the rich home buyers in the cities.

With the boom in affordable housing demand, we can expect better finance options made available by the banks and the housing finance companies.

PMAY Eligibility Criteria

To avail the PMAY benefits, each applicant has to meet the eligibility criteria and also has to provide certain documentation to the government in order to receive financial reinforcement or purchase a home under this scheme. Further, it should be the first property of the applicant.


Eligible Group Criteria
EWS Individuals with an annual household income of less than Rs.3 lakh fall under the EWS category. Relevant proof of EWS need to be provided to the government to process the claim. The carpet area should be upto 30 square meter.
LIG Individual with an annual household income between Rs. 3 lakh to 6 lakh fall under LIG category. Sufficient proof of income needs to be provided to the government for the consideration of eligibility. The carpet area should be upto 60 square meter.
MIG Individual with an annual household income below Rs.12 lakh fall under the MIG1 category. Loan of up to Rs.9 lakh for the construction of a residence can be availed by these individuals. The carpet area should be upto 120 square meter.
MIG2 Annual household income between Rs.12 to Rs.18 lakh will fall under MIG2 of the PMAY scheme. A loan amount of Rs.12 lakh can be availed by these individuals. The carpet area should be upto 150 square meter.
Women An application by the women belonging to EWS/LIG categories will be considered if they apply under the PMAY scheme. Also, the house should be registered on her name or she should be the co-applicant.

Bakeri Group

Being one of the oldest developers of Gujarat, Bakeri Group believes in ‘Decalage de paradigm’ (paradigm shift) through innovation in its design and architecture. Bakeri Group can proudly justify this with its concept of affordable housing projects within a planned township a decade ago before the idea became ‘de rigueur’ among real estate developers today.

Bakeri Group takes pride as all our projects are PMAY eligible.