Pradhan Mantri Awas Yojana (PMAY) is an initiative by the central government of India to ensure ‘house for all’ by the year 2022. The scheme comes with strong subsidy support for people who take a loan to purchase or built a house.
PMAY aims to give mandatory home ownership for women. It offers a lot of benefits such as equal housing opportunities, eco-friendly facilities and 6.5% subsidy on the home loan interest.
Pradhan Mantri Awas Yojana aims to provide 20 million individuals with housing by 2022. Along with this, the government of India has also announced that the GST rate on home loans will be reduced from 12% to 8% for those people who will apply for a loan under the PMAY.
Pradhan Mantri Awas yojana eligibility criteria
The applicant will be eligible under PMAY when below-mentioned conditions will be properly met:
- The beneficiary family should not have a pucca house in any part of India; neither in his/her name nor the name of any family member
- The beneficiary family should not have taken any central assistance under any housing scheme from state/central government
- The beneficiary family should not have taken any PMAY – CLSS subsidy from any of the PLIs- Primary Lending Institutions
- As per the last census, all statutory towns and towns notified subsequently will be eligible for the coverage under this scheme
- House construction
s(for which the loan is availed) should to be completed within 3 years (36 months) from the fate of the disbursement of the first installment of the loan amount.
Criteria for LIG/EWS category only:
People who belongs to Low Income Group (LIG) or Economically Weaker Section (EWS), they need to match a special criteria. The houses constructed with central assistance under PMAY should be in the name of the female head of the house or in the joint name of the male head of the family and his wife. If there is no adult female member in the family, the house can be in name of a male member of the family.
Benefits of Pradhan Mantri Awas yojana
1. Loan subsidy support for an individual borrower
The main Pradhan Mantri Awas Yojana benefit is the supportive Loan subsidy on new house purchases. Here the government offers a credit-linked Loan subsidy based on the applicant’s annual income and ranges from EWS/LIG to MIG 1 & MIG
EWS and LIG stand for Economically Weaker Section and Lower Income Group.
MIG 1 stands for Middle Income Group 1. People who comprise of households having an annual income between Rs. 6,00,001 to Rs. 12,00,000, they fall under MIG 1 category. And people who comprise of household having a yearly income between Rs.12, 00,001 up to Rs.18, 00,000 they fall under MIG 2 category.
Applicants falling under the mid-level MIG 1 category, will get a maximum loan amount of Rs. 9 lakh for a period of 20 years along with subsidy benefitsFor the MIG 2 category, the house loan interest rate will be subsidized by 3% on a maximum loan amount of Rs. 12 lakh for a period of 20 years.
The scheme will be implemented during the 2015-2022 period and includes four components that can help the a person meet the eligibility-
· Partnered affordable housing
· Credit linked subsidy scheme
· Rehabilitation of slum dwellers, in-situ basis
· Subsidized individual house construction or enhancement
The scheme is mainly divided into two sections- PMAY urban and PMAY Gramin.
Eligibility criteria
| Applicants | Economic classification |
| All the beneficiaries under Urban PMAY scheme | EWS- Economically Weaker Section, LIG- Low Income Group, MIG- Middle Income Group |
| Beneficiaries under CLSS of PNAY (urban) | Lower and middle income group |
| Beneficiaries under PMAY (Gramin) scheme | Low Income Group (LIG), Economically Weaker Section (EWS) and Below Poverty Level (BPL) |
Below some other economic eligibility criteria that an individual should full fill to apply and ensure a subsidy for house construction, enhancement or improvement.
| Particulars | MIG – 1 | MIG – 2 | LIG | EWS |
| Income per annum (household) | 600000-12,00,000 | 12,00,001-18,00,000 | 3,00,001-6,00,000 | 0-3,00,000 |
| Subsidy on the house loan interest | 4% p.a. p.a. | 3% p.a. | 6.5% p.a. | 6.5% p.a. |
| Eligible amount to get subsidy benefits on home loan (maximum) | Rs.9 lakh | Rs.12 lakh | Rs.6 lakh | Rs.6 lakh |
| Maximum time span of home loan (in years) | 20 | 20 | 20 | 20 |
| Maximum subsidized amount | Rs.2.35 lakh | Rs.2.30 lakh | Rs.2.67 lakh | Rs.2.67 lakh |
| Dwelling unit’s carpet area (Maximum) (in sq. m.) | 160 | 200 | 60 | 60 |
| Home loan sanction date (on or after) | 01.01.2017 | 01.01.2017 | 17.06.2015 | 17.06.2015 |
You can contact a nearby CSC (common service center) t apply loan and avail of these benefits provided you fullfil the criteria mentioned above
2. Housing for all sections of our society
This scheme aims to build 2 crore affordable homes in specific urban areas for the people who are eligible for this Yojana. Some states such as Maharashtra, West Bengal, Tamil Nadu have already started house construction with many of them completed and people have also started living there.
Housing development in all the corners of India
It is not that only people from urban areas will get these benefits but also people from village areas also get equal importance with the aim to develop rural areas (especially low and middle-income groups). It also ensures the development in the rural real estate sectors and other associated businesses and industries.
3. Special help to women and minorities
According to this scheme, here female homeownership is mandatory. The house needs to be registered in a women’s name even when she is not directly buying the home. Along with this, salaried women, transgender people, widows, disabled, minorities, and seniors can take the help of this scheme and secure a roof over the head. This scheme helps senior citizens to get mandatory ground floor accommodation.
4. Eco-friendly homes
PMAY scheme has instructed developers to enable eco-friendly construction technology and material under the PMAY scheme. In this way, the environment will face limited damage, and pollution will be in control too.
How to apply for Pradhan Mantri Awas Yojana?
Here are the steps to apply for PMAY
Online mode- You can fill Pradhan Mantri Awas yojana form online. You should have a valid Adhaar Card to apply online.
- Click here https://pmaymis.gov.in/
- Select ‘Citizen Assessment’ menu and select applicant category
- Enter Adhaar Card details
- Fill out the application with right information such as personal, income, and bank account details, and current residential address
- Enter captcha code, recheck to ensure accuracy and then submit
‘Track your Assessment Status’ under ‘Citizen Assessment will help you to track application status later.
Offline mode- Pradhan Mantri Awas yojana form is available at Rs. 25+ GST and you can avail of from a nearby common service center (CSC). Once registered you can find yourself in the PMAY List as given below
How to check the applicant’s name in PMAY 2020 beneficiary list?
PMAY rural list check:
Without registration number-
If you do not have a registration number, you have to follow the ways to check Pradhan Mantri Awas yojana list–
Step1: Open rhreporting.nic.in/netiay/Benificiary.aspx
Step2: Click the ‘Advanced search’ button
Step3: You will be taken to a page and there you need to enter some details such as your name, sanction order, BPL number and so on
Step4: Hit the ‘search’ option
Step5: If your name has listed a page will appear with all the details
With registration number-
Step1: Open rhreporting.nic.in/netiay/Benificiary.aspx
Step2: enter your registration number and submit
Step3: if the registration number is enlisted, you will get a page with details
PMAY urban list check:
Step1: Open pmaymis.gov.in
Step2: Hit ‘Select Beneficiary’ option and then select ‘Search by Name’
Step3:enter at least first three characters of the applicant’s name and hit ‘show’ option
Having a roof over the head is a basic need butthere are a lot of people who are surviving without this kind of facility. This scheme initiative by central government not only assists people to get a house for themselves but also improve their living standard across the country. We suggest availing the benefits of lean subsidy as soon as possible if you are planning to buy a house.
