With an aim to provide affordable housing for all, the Central Government of India launched the Pradhan Mantri Awas Yojana in June 2015. This initiative aims to provide affordable housing primarily to the economically weaker sections of the society by 31st March 2022.
Additionally, under the PM Awas Yojana, the government introduced the Credit Linked Subsidy Scheme (CLSS), which provides interest subsidies on a home loan under PMAY.
The PMAY scheme has two major categories, PMAY Urban and PMAY Gramin, which is applicable to the urban and rural population of the country, respectively, and offers different benefits. Continue reading to know more about the PMAY registration process, eligibility criteria, and various PMAY benefits.
Who can qualify for the Pradhan Mantri Awas Yojana?
The PMAY eligibility criteria is divided into four sections depending on multiple factors such as age and income. To avail PMAY benefits, you have to be eligible under one of these four categories.
- Economically Weaker Section (EWS): Your annual household income is no more than Rs.3 lakh.
- Lower Income Group (LIG): Your annual household income is between Rs.3 lakh and Rs.6 lakh.
- Middle Income Group I (MIG I): Your yearly household income is between Rs.6 lakh and Rs.12 lakh
- Middle Income Group (MIG II): Your yearly household income is between Rs.12 lakh and Rs.18 lakh.
Apart from these, you need to remember the following general eligibility rules before you apply for the PMAY scheme.
- You are not eligible for this scheme if you or any of your family members own a pucca house or are beneficiaries of any other government housing schemes.
- You have to compulsorily link your Aadhaar Card on applying for this scheme.
- For the EWS and LIG beneficiaries, it is required to have an adult female member of the family as the owner or joint owner of the property while for MIG I and MIG II, there is no restriction on female ownership, though it is encouraged.
What documents do you need to apply for the PM Awas Yojana?
You need to submit the following documents to substantiate your eligibility for the PMAY scheme.
- You need to submit your Aadhaar details
- You need to submit your voter’s ID, PAN Card or driving license as proof of residency and identity
- In case you belong to SC/ST/OBC, then you need to submit documents proving the same
- You must submit an affidavit that specifies you or your family do not own another house anywhere in the country
- You need to provide the following documents to prove your annual household income:
- Self-attested income certificate or salary slips of the previous months as proof of income
- Form 16 or bank account statement of the last 6 months
- If you are self-employed, then you have to submit your IT returns along with balance sheet, profit and loss account and financial computation of the last 2 years
What are the various PMAY benefits and features?
As mentioned, the primary objective of PMAY is providing affordable housing for every citizen by March 2022. Keeping this mind, the PM Awas Yojana extends the following benefits.
- Construction of all houses under PMAY will involve the use of sustainable and eco-friendly technologies and materials.
- Construction of affordable homes will offer many choices to those in the lower-income strata who aim to become homeowners
- Under this scheme, the differently-abled and senior citizens will be given first preference while allocating houses on the ground floor.
- The scheme also gives preference to women, widows, transgender, and citizens belonging to the Scheduled Caste and Scheduled Tribes.
- You can avail of interest subsidy of 6.50% on a home loan worth Rs.6 lakhs if you qualify in the EWS or LIG category.
- You can avail of interest subsidy of 4% on home loans worth Rs.9 lakh if you belong to the MIG I category and 3% interest subsidy on home loans worth Rs.12 lakh if you classify under the MIG II category.
- The GST for homebuyers under the PMAY scheme has been recently reduced from 12% to 8%.
How to enroll for PMAY registration?
You can easily register for the PMAY scheme online by following the steps given below.
- Log on to the official PMAY website
- Click on the ‘Citizen Assessment’ tab
- Click on the ‘Benefits Under Other 3 Components’ tab from the dropdown list
- Enter your Aadhaar number and name in the fields provided and click on the ‘Check’ button
- You will be directed to the PMAY application form, so fill out all the boxes regarding your personal, professional, bank account and income details
- Tick the box that indicates that you agree to all terms and conditions, enter the captcha, and click on save
- You will be given an application number that you need to save for future references
Additionally, you can even register for the PMAY scheme offline at the local branch of a PMAY listed bank. Do not forget to carry the required documents. Once you get an approval, you can continue your hunt for a house.
How to check your PMAY status post-application?
The list of beneficiaries under the Pradhan Mantri Awas Yojana is published on the official PMAY website after regular intervals. To see if your name features on the list, follow the steps listed below.
- Visit the official website of PM Awas Yojana
- Go to ‘Search Beneficiary’ tab and select ‘Search by Name’
- Enter your Aadhaar number and click on ‘Show’
- The Pradhan Mantri Awas Yojana list will be displayed
- Search for your name and other details in the list
On qualifying for PMAY, opt for a loan that allows you to avail subsidies and other PMAY benefits in addition to a hefty sanction.