Pradhan Mantri Awas Yojana (PMAY): A Comprehensive Guide to and How It Can Help You?

The Pradhan Mantri Awas Yojana is a housing scheme launched in 2015 by the Indian Government in order to provide affordable housing for people belonging to low-income groups. It aims at providing shelter to all the families living below the poverty line. The PMAY has three components which are namely, Rural Housing, Urban Housing, and Housing for the Economically Weaker Section (EWS).

The PMAY is one of the most successful schemes of the Indian Government. It has enabled millions of people to get themselves a house and lead a better life. The scheme can be beneficial for you if you are interested in getting yourself a house.

Introduction: The PMAY and Its Benefits

The Pradhan Mantri Awas Yojana is a housing scheme launched by the Indian government. The aim of this scheme is to provide affordable houses for all the low-income groups. It was launched on 25th June 2015, with an aim to provide 2 crore houses by 2022.

This scheme will be implemented in two phases. In Phase I, about 1 crore houses are targeted to be built in rural areas of India by 2019-2020, while in Phase II another 1 crore houses are targeted to be built by 2022.

The Scheme provides benefits for both the beneficiary and the builder. The beneficiary gets a house at a lower cost and with better quality than what they would have otherwise received from private builders. The builder gets incentives like land at concessional rates.

It has been extended to 31^st March 2022.

The Basics of the Pradhan Mantri Awas Yojana Scheme

The Pradhan Mantri Awas Yojana is a housing scheme that was launched in 2015 by the Prime Minister of India, Narendra Modi. It is a very popular scheme in India and it aims to provide affordable housing for people who are below the poverty line.

The PMAY scheme has four components:

1) Affordable homes with all basic amenities

2) Credit linked subsidy for home loans

3) A reasonable interest rate on home loans

4) Affordable rental homes

Qualifying for the Pradhan Mantri Awas Yojana Scheme

The Pradhan Mantri Awas Yojana was launched by the government of India in 2015 to provide affordable housing for all. The scheme is open to all Indian citizens who are living in India and satisfies the eligibility criteria.

The Ministry of Housing and Urban Poverty Alleviation has laid out an outline of the route to take and clarified the eligibility requirements that a potential applicant must satisfy. It has also enlisted the assistance of some of the top banks to offer loans to construction under PMAY. The banks will provide loans at less than the rate of government funds the rest on behalf of the person applying. This type of loan that is subsidized assists people who are less economically able to build homes. This is how it works:

• The family of the applicant is not allowed to own a residence in any area of the country.
• In the event of a married couple one of the options is a Single, or Joint ownership agreement is permitted and both will only receive one subsidy.
• The family of the applicant has not had the benefits of any housing related programs arranged through Government of India. Government of India.
• PMAY is only eligible for candidates with Aadhaar card

Eligibility Criteria

To be eligible to get an apartment or financial assistance by the state, each applicant must satisfy the eligibility requirements that are set to be met by PMAY committee. The applicants who are eligible have been divided into six distinct categories

• Economically Weaker Section (EWS):People who earn an annual household income of less than Rs.3 lakh fall under the category of EWS. Anyone who claims to belong to EWS has to present relevant evidence to the government in order to verify their claims.
• Light income Group (LIG): Individuals who fall in the LIG category typically have a monthly household income of Rs.3 6 lakh to 3 lakh. In order to be considered for consideration, they have be able to show proof of their financial status.
• Medium Income Group (MIG1): Those who earn a household income of less than Rs.12 lakh fall into MIG1’s classification. MIG1 members can obtain loans up to Rs.9 lakh to construct of a home.
• Medium Income Group (MIG2): Individuals with a household income of Rs.12 and Rs.18 lakh would fall under the MIG2 category under PMAY. PMAY scheme. The MIG2 group can take out loans that range from Rs.12 lakh.
• Minorities: People who are from minorities groups such as SC/ST/OBC or a minority group will be considered to be minorities. In order to be eligible under PMAY scheme, the people have to prove they meet the relevant caste and income certificate.
• Women: Women who fall into EWS/LIG categories are considered when they are eligible for PMAY.

Pradhan Mantri Awas Yojana loan eligibility Medium Income Group

 Pradhan Mantri Awas Yojana Loan Eligibility for the Low Income Group/Economic Weaker Section Category

How to apply online for Pradhan Mantri Awas Yojana

Visit the PMAY website https://pmaymis.gov.in/ and click on Citizens Assessment > Click on Apply Online > Select Affordable Housing in Partnership (AHP) or In Situ Slum Development.

You will them prompted to enter Aadhaar No and Name and once it validates your information. It will ask you fill your form.

How to track the status of my PMAY application online?

Go to the PMAY website and click on Click on Citizens Assessment > then click on Track on Assessment Status.

It will then ask you to enter either Assessment ID

Or you can use choose By Name, Father’s name & mobile no

It will then show the application status.

How to check the update on PMAY?

Visit the CLSS Awas portal (CLAP) and it provides a consolidated all the activities related to PMAY

Conclusion on Pradhan Mantri Awas Yojana

The Pradhan Mantri Awas Yojana is a housing scheme that was launched by the Prime Minister of India on the 15th of April, 2015.

The scheme has been designed to provide housing for all by 2022. It is a long-term plan that will take decades to be fulfilled. The first phase of the project was launched in December 2017 and it aims to provide two crore houses within five years.

Updates from 2022 Budget

Finance minister Nirmala Sitharaman Tuesday announced an allocation of $48,000 crore to complete the construction of 80 lakh houses in the Pradhan Mantri Awas Yojana (PMAY) which will be completed in both urban and rural in the coming fiscal year. The minister made the announcement in the budget speech she delivered, speech on the budget speech Minister Sitharaman declared: “In 2022-23, 80 thousand houses will be built for those who are eligible to be beneficiaries of the PM Awas Yojana, urban and rural. A total of Rs 48,000 crore has been allocated to this end. “The Centre would work with states to speed up the process needed for all construction and land approvals. It will also promote affordable housing for the middle class and economically weaker sections (EWS) located in cities, she stated.

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