Pradhan Mantri Awas Yojana (PMAY)- Features, Eligibility, Documents and Application process

The Pradhan Mantri Awas Yojana is a beneficial housing scheme launched in 2015 by the Government of India with the goal of providing affordable housing to all. The scheme will benefit economically disadvantaged groups, lower income groups, urban poor, and rural poor.

What is pradhan mantri awas yojana?

On June 1, 2015, the Pradhan Mantri Awas Yojana was launched to provide affordable housing to the urban poor. This scheme provides a credit linked subsidy scheme (CLSS) to eligible beneficiaries such as the economically weaker section (EWS), the low income group (LIG), and the medium income group (MIG). The credit linked subsidy scheme provides an upfront payment on the principal outstanding on a home loan for house construction/acquisition, including house repurchase.

Features-

• The PMAY scheme provides a subsidised interest rate of 6.50% p.a. if beneficiaries take out a housing loan for up to 20 years.
• The interest on housing loans for the acquisition/construction of houses will be subsidised for the middle income group (MIG) (including repurchase).
• The Pradhan mantri Awas Yojna has covered all urban areas in India, including 4041 statutory towns, with priority given to 500 Class I cities.
• Construction will make use of environmentally friendly and long-lasting technologies.
• The ground floor will be preferred for senior citizens and people with disabilities.

Objectives-

• A subsidy calculator eliminates the need for tedious manual calculations and the associated stress.
• With the PMAY Subsidy calculator, you can calculate subsidy and category in seconds, saving you valuable time.
• Calculating EMIs and subsidies gives you an idea of how much money you should set aside from your monthly earnings. In short, the PMAY calculator assists you in determining the amount that you can repay without experiencing financial hardship.
• The PMAY calculator calculates the effective interest rate on a loan under the PMAY scheme, saving you time.

Required documents-

• Proof of company existence and address
• Aadhaar Card, Voter ID card, Passport, and other forms of identification are acceptable.
• Address proofs include voter ID cards, Aadhaar cards, passports, ration cards, utility bills, and so on.
• Income proof includes a salary slip/Form 16 for salaried employees, financial documents for self-employed individuals, and bank account statements and ITR files for previous years for both.
• Property documents include a copy of the allotment letter, a copy of the agreement to sell, a developer payment receipt, and so on.

Eligibility

• This scheme is open to any household with an annual income ranging from 3 lakh to 18 lakh.
• The applicant or any other family member cannot currently own a pucca house anywhere in the country.
• The beneficiary cannot receive PMAY benefits on a house that has already been built.
• Ground floor housing is preferred for senior citizens and people with disabilities.
• If the applicant is married, they can get a single subsidy if they are in joint ownership or either of them can get a single subsidy.

How to apply pradhan mantri awas yojana-

Online-

• Visit the official website of PMAY (http://pmaymis.gov.in).
• Visit PMAY's official website (http://pmaymis.gov.in).
• Choose the "Citizen Assessment" option.
• You will be directed to the 'Check Aadhaar/VID No. Existence' page, where you must enter your 'Aadhaar' or 'Virtual ID' and 'Aadhaar Name'.
• You'll be taken to the application page. Fill in all of the required information, such as the beneficiary's name, contact information, personal information, income information, bank account, and so on.
• After filling out all of the form's details, you must check the disclaimer box, enter the Captcha, and click the 'Save' button.
• You can print the PMAY application form after you have successfully saved it. Follow the steps below to print the PMAY application form online.
• Print the PMAY application form and all supporting documents and submit them to the nearest Common Service Centre (CSC) or financial institution/bank.

Offline

Customers who want to apply for the Pradhan Mantri Awas Yojana offline can do so by filling out the form available at the state governments' Common Service Centres (CSCs). The form can be purchased for Rs. 25 plus applicable GST.

How to track your application status?

• Visit the official website at pmaymis.gov.in.
• Click the 'Citizen Assessment' button.
• At the bottom of the menu, select the 'Track Your Assessment' status.
• After selecting the option, you will be taken to another page with two options: By Name, Father's Name and ID Type, or By Assessment ID.
• Choose one of the two options for tracking the status of your application.
• Enter the applicant's state, city, district, father's name, ID type, and corresponding ID number and registered mobile number.
• The applicant can also enter the assessment ID and register their mobile number to track the status of their application.