(PMAY) Pradhan Mantri Awas Yojana 2023 Eligibility Criteria

 

What’s the Pradhan Mantri Yojana

Pradhan Mantri Awas Yojana, also known as PMAY, or Housing for All is a housing program that is open to all those who are part of the lower-income group and economically weaker segments, and middle-income groups in India. It was launched in the year 2015 and is a housing-related development plan by the central government that will provide 2 crore permanent homes in rural and urban areas in 2022. Phase 1 of the plan was completed by the end of March 2017, while the next phase of the project has already been started. It is split in two parts.

PMAY Urban

Under PMAY-Urban the homes are being built in urban areas. The slums that are crowded will be cleared to provide houses in permanent pucca to residents of areas of slums as well as other residents from LIG EWS, LIG as well as MIG categories.

PMAY Gramin

The PMAY-Gramin program will ensure that those living in rural areas can be able to purchase pucca houses. People who live in houses that are rented or have a property that requires renovation, could apply for this program.

 

The scheme was launched in June of 2015, the principal goal of the Yojana was to guarantee that two crore homes are constructed across the country’s length and length and. The estimated date of completion of the program is 2022. This implies that the 2 crore houses will be built over seven years.

Short highlights from Pradhan Mantri Awas Yojana

Parameters	Information
Schema Name	Pradhan Mantri Awas Yojana
Release Date	June, 2015
Estimated Time to the completion	7.7 years (2022)
Primary Goal	Offering affordable homes to Indian citizens
The number of houses to be built	2 crores +
Primary Target Group	The poor are those Indibelongng are part of LIG, EWS and MIG groups.
Primary Target Area	LIG, EWS and MIG rural and urban region.
PMAYG	Pradhan Mantri Awas Yojana Gramin (Rural)
PMAYU	Pradhan Mantri Awas Yojana Urban (Sheri)
Subsidy	Aproximately of Rs 1.2 Lakhs in Gramin and the equivalent of 2.4 Lakhs in Urban
Description of Scheme	All over India
Prior Name	Housing for All scheme and Indira Awas Yojana
It was launched by	Prime Minister Narendra Modi

Pradhan Mantri Awas Yojana Eligibility Criteria to being able to get a loan

Do not have a the house that is in use —

One of the most important criteria for eligibility is that applicants as well as any members of the family members cannot have a permanent residence in any area of the nation.

To be used by the EWS group —

The applicants who make over 3 lakhs annually on a monthly basis will be classified in the category of EWS (or Economically Weaker) Sections. Candidates who have documentation to support that they are eligible to apply for homes under the scheme.

For the LIG group —

Anyone who is interested and wants to avail the benefits of this housing program and who’s annual earnings is within 3 lakhs, but not exceeding 6 lakhs, will be classified as a member within the Lower Income Group.

To MIG 1 Group —

If a candidate has an annual income of up to 12 lakhs, the applicant will be classified as being in the Medium income group 1. Candidates in this category will be eligible in applying for new house providing they meet the other conditions.

To be used with MIG Two groups (-

If you earn a income of the amount of Rs. 18 lakhs, or less are classified as a medium income group 2. The individuals who qualify will be eligible to apply under PMAY. PMAY program.

Carpet space of homes —

The applicants will receive homes with different carpet areas. It is contingent on the category in the category that these applicants fall. Therefore, applicants from EWS or LIG sections will be given homes that are of 30 square meters and 60 square meters of carpet area, respectively. According to the latest draft the applicants of MIG 1 will be eligible to have homes that are 120 sqm of carpet space and MIG 2 applicants will get 150 sqm of space.

In addition to the main criteria that all applicants need to satisfy additional requirements to be eligible to apply for credit from economic institutions. Applicants will receive credit to cover the Awas Yojana.

Credit and Income Criteria for PMAY-U

To get the credit limit of 6.25 lakhs –

If an applicant wants to obtain a credit amount that is 6 lakhs in value, the will need to provide only the amount of their annual income which is not more than 6 lakhs. The applicants will receive subventions of 6.5 percent with a tenure of 20 years in order to pay back the credit.

To get an amount of credit worth 9 Lakhs –

Anyone who wants to get an amount of loan in the range of 9 lakhs of Rs. 9 lakhs have to earn an income of the equivalent of Rs. 12 lakhs per year on a yearly basis. In accordance with the official draft of the draft, those who be in this category must pay interest of lower than standard loans. They must pay off the debt in the space of 20 years.

for obtaining the credit amount of 12 Lakhs –

If applicants wish to get a credit limit of 12 lakhs, or Rs. 12 lakhs, applicants need to earn an annual income of 18 lakhs. 18 lakhs. The individuals who fall under this category are awarded subventions on the interest rate of 3percent. The creditor must repay the total amount of loan over the course of 20 years.

Aspects Pradhan Mantri Awas Yojana

The Pradhan Mantri Awas Yojana comes with its plan broken down in three parts. This means that it is planned to complete in three phases that is:

Phase 1

Phase	I (one)
Time of the Start	April 15, 2015
Time of Targeting to End	March 2017
The number of cities targeted	100 cities of India
What can we expect?	Construction and completion of affordable housing in the scheme.

Phase II

Phase	II (two)
Time of the Start	April 2017
The Date at which the Target Date is Set to End	March 2019
Cities targeted	200 cities across India
What can we expect?	Construction and completion of affordable homes in the scheme.

Phase III

Phase	III (three)
The Date of Target for the Start	April 2019, April 2019.
The Date at which the Target Date is Set to End	March 2022
Cities targeted	All cities remaining in India
What can we expect?	The development and construction of affordable housing within the scheme.

Method to Apply

There are three methods of application for PMAY. There are three ways to apply under PMAY scheme. These are offline, online and through CSCs for urban and rural regions.

Subsidy Applications in the form of Pradhan Mantri Awas Yojana Urban [PMAY (U)Apply Subsidy for Pradhan Mantri Awas Yojana Urban [

Offline:

If you register offline it is necessary to conduct a survey of demand conducted by urban local authorities. The purpose of this survey is to collect and organize the list of those living under the LIG classification (annual income of not more than 6 lac). six lacs) as well as EWS category (Annual Income not exceeding Rs. 3 Lac). After the survey has been completed, the verification will begin and the registration process will start in the same manner.

Online procedure:

If you are a candidate for online registration, applicants can apply free of charge on the pradhanmantri awas yojana ministry’s official website. The link for the website is http://pmaymis.gov.in/. Follow the link to you will find the sign-up or registration up form on the site. Complete the form with all necessary information about the loan and the applicant’s identity. Complete the form online following having completed the filling in.

CSCs:

CSCs have been currently being set up in a variety of locations across the United States. Candidates are required to submit all of their documents to these CSCs and pay a minimal fees of. 25/-, plus cost of service for registration under the PMAY (U) Scheme.

Apply to Pradhan Mantri Yojana Yojana [PMAY (G)Apply for Pradhan Mantri Awas Yojana Gramin [PMAY (G

Offline:

the PMAY (G) The Gramin Sabha will be in charge of this survey. They will be conducting the poll, in which LIG as well as EWS classes will be determined to create an inventory of the population targeted. The list must be sent at officials of the PMAY local authorities to complete the registration.

Online:

The registration process online for PMAY (G) is the same as that for PMAY (U). The applicant is able to register on the official website of the PMAY ministry without having to pay anything.

CSCs:

As previously mentioned, CSCs are being set up all over the world to handle the application. The applicant must pay an amount of Rs. 25or more as a service fee and registration fees to the authorities of CSCs to complete the registration.

Be aware that you must be within the Secc 2011 in order to be eligible to receive PMAYG benefits.

Documents required to be submitted with PMAY application.

• One of the essential documents required for application will be Aadhaar card. If the person applying doesn’t have Aadhaar card, then CSCs will assist the applicant to obtain the card by an appropriate registration.
• Another document that must be presented is the BPL certificates. Residents of urban or rural areasthat belong to EWS and LIG groups are required to provide their income certificate together with proof of identity and proof of address.

Application format for PMAY (U) and PMAY (G)

The application form is accessible on the internet only. If the person filling out the form on the internet it is required to fill out the form and then submit it online after filling it in properly. Anyone who is registering through CSCs are able to get the forms from the centers. The authorities collect the printed forms and give them along with an acknowledgment slip to the person applying for the amount of Rs. 25/-. The applicant is required to fill out the form on CSCs once they have filled it in out correctly.

Name Contact gender age, date of birth the category, annual income, the aadhaar code, BPL certificate details and those are the compulsory fields on the application form. The applicant should also provide information the kind of house the loan is for, like to finance the construction of a new home or renovation of an existing home.

Status Check: Follow your application’s status

After registering, you must to verify whether your application is accepted to be loaned or not. To check or track the status of your application, you must click on the following link http://pmaymis.gov.in/Search_Name.aspx. On this page, you’ll see a tiny text box in which you need to enter the initial 3 characters of the name. When you submit the form, an extensive list of applicants’ names will be displayed. Your name will be listed in the list , and find out the details of the status of your application.

Who is the beneficiaries of Pradhan Mantri Awas Yajana?

PMAY is a scheme for those with lower incomes and do not have a home to reside in. The primary target population of the scheme are people who live under EWS as well as LIG. People who live in poverty can be a beneficiaries of the scheme.

Recently, the government of India has announced that the middle income MIGs are also eligible for this scheme. The amount of the loan is raised from 6 to 12 Lac from 6 Lac.

Deadline when you can apply to the loan PMAY:

The second phase launched in April 2017 to the scheme. The date of March 2019, the last date for applications is being announced by the authorities.

What’s the main advantages in Pradhan Mantri Awas Yojana?

• Subsidies will be provided to qualified both rural and urban areas. The funds will be sourced from the central government treasury funds and will be available in between the INR one lakh to 2.30 lakh. 2.30 lakh. The grant will permit people in the targeted segment to buy a house as part of the scheme.
• Government will also offer a subsidy for interest rates on loans accessed through the Yojana. 6.5 per cent interest rate reduction is available to recipients of the loans they get. This interest rate subsidy will run for 15 years beginning from the date that the loan is distributed to the lender.
• Female beneficiaries will be given preference in allotment of homes under this program. The way to put it is that the applications of female members will be considered without difficulty compared to those from male beneficiaries. This makes it one that is pro-women.
• For houses with a ground floor The government will provide first preference to those with disabilities or old.
• The government has firmly ordered that housing enclaves constructed within the scheme must strictly adhere to green construction methods.

The drastic reduction of EMI as part of Pradhan Mantri Awas Yojana

The PMAY includes the promise of a an interest rate subsidized by 6.5 percent for mortgages for housing under the program. The current market rate of interest for mortgages for housing is 10.5 percent. That means that those who are looking to take advantage of mortgages for their homes under the scheme are entitled to the benefit of a rate of interest that is 4percent lower than what the rate of interest is. This implies it will result in a dramatic cut in EMI that one has to pay each month.

Let’s take a brief illustration of the amount of reduction that is possible in EMI payments made under the PMAY

Let’s say that someone takes out an amount of INR 6,00,000. This is based on market rates (10.50 percent) for a loan term for 15 years. So, the sum of EMI the borrower has to pay each month will be 6,632 rupees per month. If the individual would like to avail the same loan as part of Housing Scheme, the rate of interest that is applicable would be 6.5 percent. This means an EMI of INR 4,050 per month. In other words, under this plan, the buyer has to pay over INR 2000 less than the amount he or she would normally pay in normal or market rates. This is a huge decrease in EMI which makes home purchases much more affordable and affordable for LIG and EWS those living in urban regions of the nation.

credit-linked subsidy scheme Pradhan Mantri Awas Yojana

One of the most important characteristics that is a major feature of Pradhan Mantri Awas Yajana the credits-linked subsidies. We’ve already discussed two significant characteristics of this housing scheme which include:

1. A loan from the government of the amount of INR 600,000 over a period that is 15 or less years.
2. A subsidized rate for interest of 6.5 Percent.

These two elements aren’t different from one the other. Actually, each is a complement to each other in an approach that they can’t be viewed as distinct.

To explain further…

A rate of 6.5 percent is applicable only for those who apply an application for home loans through the PradhanMantri Awas Yojana. There are a few rules that apply to this. They are as follows:

1. The amount of the loan cannot be more than 600,000 rupees when the interest rate subsidized is to be used.
2. If the amount of loan is more that INR 600,000, all amounts beyond that figure is subject to market interest rates. Therefore, if someone seeks INR 700,000 in loan, they must pay the standard market interest rates (for loan to homeowners) in addition to INR 100,000.
3. One must be in the EWS or LIG class to get this loan.
4. The interest rate that is subsidized is available for up to 15 years. This means that if person takes out a loan of like 20 years, they must pay 6.5 percent interest for the initial 15 years. After that, the interest rate will increase to the market rate applicable to home loans. If the duration for the loan shorter than fifteen years then the subsidised rate will apply since the loan’s duration does not exceed 15 years in any case.
5. The loans can be used to buy a house built under the PradhanMantri Awas Yojana, but it isn’t a requirement. So, a person belonging to the LIG and EWS category is able to take out loans under this scheme, even if he or she already owns an existing house that requires expansion or renovation , or if he would like to build a new house in their own home instead of buying a brand new home from the available housing units built in the scheme of the government.
6. When the money is being used for the purpose of extending or renovating an existing house it is necessary that the area covered by the home must be at least thirty square meters in the case of those in the EWS category as well as 60 sqm for LIG category individuals. If the condition is not satisfied, loans under this scheme can’t be utilized.

Cities chosen by the government to be part of P
radhan Mantri Awas Yojana

The government has compiled a the list of cities across different States and Union Territories, where housing units will be built in the Pradhan Mantri Awas Yojana. The complete list is available below:

 

State	Cities
Andhra Pradesh	Adoni
Amaravati Capital City
Anantapur
Bhimavaram
Chilakaluripet
Chirala
Chittoor
Dharmavaram
Eluru
Gudivada
Gudur
Guntakal
Guntur
GVMC
Hindupur
Kadapa
Kadiri
Kakinada
Kavali
Kurnool
Machilipatnam
Madanapalle
Mangalagiri
Nandyal
Narasaraopet
Nellore
Ongole
Palacole
Proddatur
Rajahmundry
Rayachoti
Srikakulam
Srikalahasti
Tadepalligudem
Tadpatri
Tenali
Tirupati
Vijayawada
Vizianagaram
Yemmiganur
Chhattisgarh	Ahiwara
Ambikapur
Bade Bacheli
Bagbahara
Baikunthpur
Balod
Baloda Bazar
Bhatapara
BhilaiCharoda
Bhilai Nagar
Bijapur
Bilaspur
Birgaon
Champa
Chirmiri
Dantewada
Dhamtari
Durg
GobraNawapara
Jagdalpur
JashpurNagar
Kanker
Kawardha
Kondagaon
Korba
Mahasamund
Mana-Camp
Manendragarh
Mungeli
Naila-Janjgir
Narayanpur
Pendra
Raigarh
Raipur
Rajnandgaon
Sukma
Gujarat	Ahmedabad
Amreli
Anand
Anklesvar
Bharuch
Bhavnagar
Bhuj
Deesa
Gandhidham
Gandhinagar
Himatnagar
Jetpur
Kadi
Kalol
Mahesana
Morbi
Navsari
Palanpur
Patan
Rajkot
Savarkundla
Sidhpur
Surat
Una
Unjha
Vadodara
Vallabh Vidyanagar
Valsad
Vapi
Visnagar
Haryana	Faridabad
Gurgaon
Hisar
Karnal
Panipat

Rohtak
Sirsa
Sonipat
Yamunanagar
Himachal Pradesh	Baddi
Bilaspur
Chamba
Dharmsala
Hamirpur
Kullu
Mandi
Nahan
Nalagarh
Parwanoo
Shimla
Solan
Una
Jammu & Kashmir	Anantnag
Badgam
Baramula
Bashohli
Bhaderwah
Bijbehara
Doda
Ganderbal
Handwara
Jammu
Kargil
Kathua
Kishtwar
Kupwara
LehLadakh
Pulwama
Punch
R.S. Pora
Rajauri
Ramban
Samba
Shupiyan
Sopore
Srinagar
Udhampur
Jharkhand	Bokaro Steel City
Chas
Chirkunda
Deogarh
Dhanbad
Dumka
Giridih
Gumla
Hazaribag
Jamshedpur
Lorahdaga
Medininagar
Phusro
Ramgarh Cantonment
Ranchi
Kerala	Alappuzha
Kalpetta
Kannur
Kasaragod
Kochi
Kollam
Kottayam
Kozhikode
Malappuram
Palakkad
Pathanamthitta
Thiruvananthpuram
Thodupuzha
Thrissur
Madhya Pradesh	Agar
Alirajpur
Anuppur
Ashoknagar
Ashta
Balaghat
Barwani
Berasia
Betul
Bhind
Bhopal
Bina-Etawa
Budni
Burhanpur
Chandla
Chhatarpur
Chhindwara
Dabra
Damoh
Datia
Dewas
Dhar
Dindori
GanjBasauda
Guna
Gwalior
Harda
Hoshangabad
Indore
Itarsi
Jabalpur
Jhabua
Khajuraho
Khandwa
Khargone
Khurai
Maihar
Manawar
Mandla
Mandsaur
Morena
Murwara (Katni)
Nagda
Narsimhapur
Nasrullaganj
Neemuch
Panna
Patharia
Pithampur
Raisen
Rajgarh
Rampur Baghelan
Ratlam
Rehti
Rewa
Sagar
Sarni
Satna
Sehore
Sendhwa
Seoni
Shahdol
Shahganj
Shajapur
Sheopur
Shivpuri
Sidhi
Sihora
Singrauli
Sonkatch
Tikamgarh
Ujjain
Umaria
Vidisha
Manipur	Andro
Bishnupur
Heirok
Imphal
Jiribam
Kakching
KakchingKhunou
Kumbi
Kwakta
Lamlai
Lamsang
Lilong (Imphal Lilong (Imphal)
Lilong (Thoubal)
Mayang Imphal