Pradhan Mantri Awas Yojana (Urban)-PMAY (U): Pradhan Mantri Awas Yojana (Urban) Mission launched on 25th June 2015 which intends to provide housing for all in urban areas by year 2022.
The Mission provides Central Assistance to the implementing agencies through States/Union Territories (UTs) and Central Nodal Agencies (CNAs) for providing houses to all eligible families/ beneficiaries against the validated demand for houses for about 1.12 cr.
As per PMAY(U) guidelines, the size of a house for the Economically Weaker Section (EWS) could be up to 30 sq. mt. carpet area, however, States/UTs have the flexibility to enhance the size of houses in consultation and approval of the Ministry.
In continuation to this Government’s efforts towards the empowerment of women from EWS and LIG unlike earlier schemes, PMAY (U) has made a mandatory provision for the female head of the family to be the owner or co-owner of the house under this Mission.
Verticals of PMAY (Urban) A basket of options is adopted to ensure the inclusion of a greater number of people depending on their income, finance, and availability of land through the following four options.
Eligibility Criteria for PMAY Gramin: Pradhan Mantri Gramin Awaas Yojana
- Scheduled Tribes / Scheduled Castes
- Freed bonded labourers
- Minorities and non – SC/ST rural households in the BPL category
- Widows and next-of-kin to defence personnel/paramilitary forces killed in action (irrespective of their income criteria), ex-servicemen and retire Scheme
- The family applying for a loan under this scheme must include a husband, wife and child/children that are unmarried.
- The family must not own a pucca house.
The applicant and his family must fulfil the income criteria mandated by this scheme and has to belong to either the EWS (Economically Weaker Section), LIG (Lower Income Group), or BPL (Below Poverty Line) category
The income of the applicant’s family should be between Rs.3 lakh and Rs.6 lakh p.a. Any loan amount above Rs.6 lakh, the interest rate on the additional amount will be as per the market rate.
PM Awas Yojana Benefits:
Those who are eligible under this scheme will get subsidy on home loan interest rates. The details such as subsidy rate, maximum loan amount and other details have been given in the table below:
“Housing for All” Mission for urban area has been implemented with effect from 17.06.2015 to provide central assistance to implementing agencies. The Credit Linked Subsidy Scheme is being offered under this mission.
For Middle Income Group(MIG), the interest subsidy will be provided on housing loans for acquisition/construction of houses (including repurchase).
Proof of address:A letter issued by recognized public authority confirming the identity and residence of the applicantRent agreement
- Life insurance policy
- Residence address certificate
- Voter ID card
- Aadhaar card
- Proof of income:
- Last six months bank statement
- ITR receipts
- Salary slips for the previous two months
- Proof of purchase of the property (if applicable):
- Sale deed
- Sale/purchase agreement
- Property registration certificate (if available)
Copy of receipt of payment made to the developer (if applicable)One must make sure that he/she is eligible for the subsidy before application. Also, the applicant should check whether his/her name is present on the beneficiary’s list as well to receive the subsidy benefit.
Documents Required for Pradhan Mantri Awas Yojana:
- Proof of identity:
- PAN card
- Voter ID card
- Aadhaar card
- Driving license
- Photo credit card
- Photo identity card issued by the Government
- A letter issued by a recognized public authority that confirms the identity of the customer with a photograph.
How to Apply for PMAY Scheme?
Following the steps mentioned below should help individuals avail subsidies on their home loans under the housing scheme. The method listed below is the online process.
- Step 1: Visit the official government website belonging to PMAY.
- Step 2: Click on the ‘Citizen Assessment’ option under the ‘Menu’ tab.
- Step 3: An applicant must enter his/her Aadhaar number.
- Step 4: With the successful submission of the Aadhaar number, he/she will be redirected to the application page.
- Step 5: The applicant must proceed to enter all relevant details on this page, including income details, personal details, bank account details and other necessary information.
- Step 6: Applicants should recheck all information before submission.
- Step 7: Once a person clicks on the ‘save’ option, he/she will find a unique application number.
- Step 8: Applicants should, next, download the filled-in application form.
- Step 9: Finally, the person can deposit the form at his/her nearest CSC office or a financial institution offering PMAY. He/she must also submit all necessary documents along with the form.
Alternatively, individuals can opt for the offline application procedure and approach an authorised bank branch to apply for the scheme if they find the online process inconvenient.