Pradhan Mantri Awas Yojana – Urban 2.0 (PMAY-U 2.0) aims to expand access to homeownership for eligible urban families, particularly those who do not own a permanent home. The scheme is designed around inclusion, transparency, and improved ease of access through a structured eligibility and beneficiary identification framework. In parallel, Bajaj Housing Finance Limited’s Sambhav Home Loan offers housing loan solutions for homebuyers from the unorganised sector, including micro-entrepreneurs and low-income households, designed for customers with cash-based incomes or limited formal documentation.
A key component of PMAY-U 2.0 is the Interest Subsidy Scheme (ISS), under which eligible beneficiaries can receive an interest subsidy of up to Rs. 1.80 Lakh over a period of 5 years on their housing loan. This helps reduce the effective cost of borrowing and supports more manageable monthly repayments. The subsidy is applicable on home loans sanctioned and disbursed after 1 September 2024, subject to eligibility and scheme norms.
Eligible homebuyers who opt for Bajaj Housing Finance Limited’s Sambhav Home Loan can apply for PMAY-U 2.0 interest subsidy benefits, subject to the scheme’s eligibility framework, verification, and allotment process, among other factors. Final allotment under PMAY-U 2.0 is determined based on preference categories outlined in the official guidelines.
Eligible applicants can also check their eligibility and register for PMAY-U 2.0 benefits through the Unified Web Portal of PMAY 2.0, launched by the Ministry of Housing and Urban Affairs, as per the scheme’s eligibility criteria and process.
As urban India continues to expand, widening access to housing remains central to building stronger communities. PMAY-U 2.0, through its interest subsidy framework, helps eligible households reduce the cost of borrowing, while lending solutions such as Sambhav Home Loan expand access to home loans for customers with varied income profiles. Together, these efforts contribute to a more inclusive housing ecosystem for eligible homebuyers.
Sambhav Home Loan is designed for homebuyers from the unorganised segment, including micro-entrepreneurs, self-employed individuals, and households with cash-based incomes. The product framework is structured to consider varied income profiles and, where applicable, supports assessment through alternative income and repayment indicators. The product framework also follows a simplified documentation approach for eligible applicants, subject to internal verification and credit norms.
Borrowers can read PMAY-U 2.0 scheme details and registration information on the Unified Web Portal of PMAY 2.0.
BHFL is a facilitator of the PMAY-U 2.0 application and does not guarantee any receipt of the subsidy.
About Bajaj Housing Finance Limited
Classified as an ‘Upper-Layer NBFC’ by the RBI pursuant to Scale Based Regulations, Bajaj Housing Finance Limited (BHFL) is a subsidiary of Bajaj Finance Limited — one of the most diversified NBFCs in the Indian market, catering to more than 110.64 million customers across the country. Headquartered in Pune, BHFL offers finance to individuals as well as corporate entities for the purchase and renovation of homes, or commercial spaces. It also provides loans against property for business or personal needs as well as working capital for business expansion purposes. BHFL also offers finance to developers engaged in the construction of residential and commercial properties as well as lease rental discounting to developers and high-net-worth individuals. The Company is rated AAA/Stable for its long-term debt programme and A1+ for its short-term debt programme from CRISIL and India Ratings.
For more queries, visit www.bajajhousingfinance.in
