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Prime Minister Narendra Modi had targeted to provide a house to every poor in the country. For this reason, PM Modi started a government scheme with the same goal, which was named the Pradhan Mantri Awas Yojana. This scheme was launched in June 2015. Its aim is to provide all the poor in the country with their own accommodation by 2022. Pradhan Mantri Awas Yojana eligibility is divided into parts. Today in this article I am going to discuss every single detail about the scheme.
For the Pradhan Mantri Awas Yojana, the central government plans to construct 10 million homes. With the slogan “Build house, complete dreams”, Government is engaged in this plan to reach its goal.
But people are searching for the answers of questions like- what are the necessary conditions for the application of the Pradhan Mantri Awas Yojana (PMAY) and what documents are necessary for this plan, what are the Pradhan Mantri Awas Yojana eligibility criteria etc.
Many times people do not understand the conditions of the scheme, if you are deprived of the beneficial scheme, then here we will tell you what kind of conditions has created for this scheme, people of which income group can avail the scheme, and who can apply for this scheme i.e. Pradhan Mantri Awas Yojana eligibility. The answers to all the questions are presented to you sequentially in this article below.
NOTE:
This scheme was launched in June, 2015 with the slogan “build house, complete dreams”.
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What Is Pradhan Mantri Awas Yojana (PMAY)?
Table of Contents
The goal of Pradhan Mantri Awas Yojana (PMAY) is to make the roof of the Economically Weaker Section (EWS) & Low Income Group (LIG) & Middle Income Groups (MIG) of the country. Under this scheme, the interest subsidy is given to the economically weaker sections. At the same time, they have a long time of up to 20 years to repay the loans so that they do not have to pay debts.
Earlier this scheme was restricted to the poorer sections, but later the government also included the poor and middle class of the urban areas under the Pradhan Mantri Awas Yojana (PMAY).
Under the initial provisions of this scheme, the amount of home loan was up to INR 3 to 6 lakh, which was given subsidy on interest, but the government later increased it to 18 lakh rupees.
This scheme is divided into two parts.
- Pradesh Mantri Awas Yojana Gramin
- Pradhan Mantri Awas Yojana Urban
NOTE:
The benefit of Pradhan Mantri Awas Yojana (PMAY) was especially for the people belong to the poor classes. However, now middle class and urban poor have as well been carried under this plan by growing the quantity of loan.
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Weaker Section (EWS) & Low Income Group (LIG) Under PMAY
The rate of interest for the Pradhan Mantri Awas Yojana subsidy on the housing loan for the EWS & LIG families was presented by our Central Government w.e.f. on 17th June 2015. Claimants who have yearly earnings of up to INR 3 Lakhs to INR 6 lakh are qualified to avail the Pradhan Mantri Awas Yojana subsidy under the EWS & LIG scheme.
Key Features Of The scheme for EWS & LIG:
One can obtain the maximum amount of Pradhan Mantri Awas Yojana subsidy is up to INR 2.67 lakh at an interest rate of 6.5% for a certain period of 20 (twenty) years or till you clear the loan amount completely, whichever is lesser the Pradhan Mantri Awas Yojana subsidy will be appropriate only for the loan amounts of up to INR 6 lakh
Further loan beyond INR 6 lakh, if required, will be obtainable at the non-subsidized rate credited to the loan a/c of the recipient results in cheap effective house loan rate & EMI
70 years of age can also apply for this scheme
Those who have less than 3 lakh income can also apply
NOTE:
The income limit for the Economic Weaker Section (EWS) is fixed at 3 lakhs and the income limit for law income group (LIG) group is more than 6 lakhs.
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Middle Income Group (MIG) Under The PMAY:
There are two classes under the Middle Income Group (MIG-I & MIG-II). To take advantage of the Pradhan Mantri Awas Yojana (PMAY). It has the 1st item for the MIG-I ranging from INR 6 lakhs to INR 12 lakhs, while the 2nd category i.e. the MIG-II is INR 12 lakh to 18 lakh.
Key Features Of MIG-I & MIG-II:
For MIG-I
One can avail interest subsidy at the rate of 4% (Four Percent) on house loans.
The maximum amount is up to INR 9/- lakh for a period of 20 (Twenty) years
For MIG-II
One can avail Interest subsidy at the rate of 3% on house loans.
The maximum amount is up to INR 12 lakh for a period of 20 (Twenty) years
NOTE:
One should keep in mind that the recipient family shouldn’t possess any other house built in any other area of India.
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Benefits of Pradhan Mantri Awas Yojana
Under this scheme, a loan of 4% is given for a loan of 9 lakh rupees and a loan of INR 12 lakhs gets 3% discount
Under this scheme, 33% of the households in rural areas have been encouraged
Under this scheme, the interest rate of home loan has also been reduced. Because of this plan people can make their own home.
This plan also lends to home repairs. For home repair expenses, a home loan of INR 2 lakh is given at a rate of 3%.
The main goal of this scheme is to get the dream home of the poor and the deprived people.
This scheme is divided into three parts.
Phase 1
This phase began in April 2015, in which our government had the goal of building a house in more than 100 shafts.
This phase has been completed in March 2017.
Phase 2
Now after the phase-1 is completed, the second phase has started in April 2017 in which our government has decided to complete this scheme for more than 200 people.
This phase will be completed by March 2019.
Phase 3
This third phase will be completed by the year 2022.
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Pradhan Mantri Awas Yojana Eligibility Criteria
If you are planning to apply for the scheme then the first thing you have to do is to know in details about the Pradhan Mantri Awas Yojana eligibility criteria. The Pradhan Mantri Awas Yojana eligibility criteria are given right below. Check out the Pradhan Mantri Awas Yojana eligibility criteria here:
Know what qualification should be for this scheme:
1) You will be selected for this scheme according to the 2011 Census for this scheme
2) You will meet the Pradhan Mantri Awas Yojana eligibility if you have no house to live. People who already have a house anywhere in India won’t be able to get the benefits of this scheme.
3) Under this scheme, the beneficiary is required to be covered under one of the two categories of Economic Weaker Section (EWS) and Low Income Group (LIG).
4) The income limit for the Economic Weaker Section (EWS) is fixed at 3 lakhs. So if you belong to the Economically Weaker Section then to meet the Pradhan Mantri Awas Yojana eligibility your income must not exceed from 3 lakhs per year.
5) The income limit for Low Income Group (LIG) group has been fixed at a maximum of 6 lakhs. So if you belong to the Law Income Group then to meet the Pradhan Mantri Awas Yojana eligibility your income must not exceed from 6 lakhs per year.
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How to Apply for Pradhan Mantri Awas Yojana?
Before applying under this scheme, know that you can apply for this scheme only if you are poor and deprived or fall under the EWG / LIG category. Only then you will meet the Pradhan Mantri Awas Yojana eligibility criteria.
1) First, go to the OFFICIAL WEBSITE
2) After visiting this web site you have a menu of Citizen Assessment in the menu bar, please click on it
3) You will get two options there
i) First Option – For Slum Dwellers
ii) Second Option – Benefit under Other 3 Component
You have to choose one of these two options according to your need
4) Now you have to type the Aadhaar card number and click on the check
5) Now you will open the Pradhan Mantri Awas Yojana Online Form in which you have to write your information including your contact number, name, other private details, income details and details of bank account etc.
6) After completing the form, there is a Captcha code given below, after writing it, you have to save the application form and take a print out of the application form so that you can improve your form and besides you can use it to track your application.
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How to Check Pradhan Mantri Awas Yojana (PMAY) Application Status?
You can now get the Pradhan Mantri Awas Yojana Application Status From Online. Those who applied for the scheme now can check the application status from online and also can take a print out of it.
There are mainly 2 ways to check the application status of Pradhan Mantri Awas Yojana (PMAY):
You can either enter your application number to check the status of your application or
You can also check the status by entering your personal details like mobile no., name, or your father’s name.
NOTE:
To fill the form for this scheme you must confirm that you do not have any house anywhere else in India.
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What is Pradhan Mantri Awas Yojana Gramin?
The benefits of the Pradhan Mantri Awas Yojana can be achieved not only by the people of the urban people but also in rural areas. You must have heard the name of the Indira Awas Yojana. However, you probably will not know this scheme is now known as Pradhan Mantri Awas Yojana Gramin. This scheme was launched on November 20, 2016, by the Prime Minister Shri Narendra Modi.
Key Features of Pradhan Mantri Awas Yojana Gramin:
The main purpose of this scheme was to make more than 10 million pucca houses in rural areas, which they needed to provide financial help and this work would be completed in just 3 years.
Under this scheme, financial assistance will be made for constructing houses in rural areas and this assistance is made in installments which will be directly transferred to your bank account or post office account.
If you want to build your house, then you will get INR 120,000 as a help.
If you want to make the mountainous expansion your house, then you will get INR 130,000 as a help
Apart from this, you can also get employment of 90/95 days because of this plan. You will also earn up to 18 thousand rupees
12,000 rupees are also provided for construction of a permanent toilet
Pradhan Mantri Awas Yojana Gramin Benefit
- In this scheme, you get financial assistance for home, in the account in the bank or post office directly.
- Under Pradhan Mantri Gramin Awaas Yojana you can make your house in 25 square meters place.
- Under this scheme, the house that will be constructed will be equipped with modern technology which will save the house from nature.
- Under this scheme, our government helps the people of poor and disadvantaged communities INR 120, 000.
