Having a house of your dreams is everyone’s basic need and the best way to finance your dream house is by taking a home loan. However, the high rates of home loan may be a hurdle for availing a home loan for the lower strata of society. To address the issue of having a own house, a social welfare scheme of affordable housing was introduced by the government. This scheme provides subsidy to economically deprived sections and middle-class families with low income under the Pradhan Mantri Awas Yojana.
What is Pradhan Mantri Awas Yojana?
Pradhan Mantri Awas Yojana provides affordable housing to the individuals who have an annual income between Rs 6 Lakhs to Rs. 18 Lakhs. The individual can avail the credit-linked PMAY subsidy for building their homes. The government also aims to provide affordable urban spaces to the slum dwellers in partnership with private sectors. Further, under the PMAY scheme, the government also aids to construct houses who don’t possess any land for building the house.
Pradhan Mantri Awas Yojana Eligibility Criteria: To apply for the PMAY scheme you or your family should not own a pucca house. The individuals should further be either slum dwellers or belong to the Economically weaker section, low-income group and middle-class family.
The table below summarises the PMAY subsidy eligibility criteria for the following sections of society:
| Groups | Interest Subsidy | Loan Amount | Net usable carpet area |
| EWS | 6.50% | 6 Lakhs | 30 square meters |
| LIG | 6.50% | 6 Lakhs | 60 square meters |
| MIG 1 | 4.00% | 9 Lakhs | 160 square meters |
| MIG 2 | 3.00% | 12 Lakhs | 200 square meters |
How and where you can apply for Pradhan Mantri Awas Yojana?
The eligible individuals who meet the income eligibility criteria of PMAY scheme can apply for the Pradhan Mantri Awas Yojana through online and offline modes. They can register themselves on the website of PMAY or else can visit the common Service Centre in the respective state or union territory.
Applying for PMAY online: To apply for PMAY scheme online, the individuals need to register themselves on PMAY website.
Step-by-step instructions to register for PMAY scheme:
- Visit the official website of Pradhan Mantri Awas Yojana by clicking the link pmaymis.gov.in.
- Next, under the citizen assessment option, select between ‘ For slum dwellers’ and ‘Benefit under the other three components’.
- Enter the Aadhar details on the page displayed.
- Next, fill in necessary information such as name, contact number and others in the application form.
- Once you have completed the form, enter the Captcha code and click on the Save button.
- You can check the online status of your application in a few days.
Applying for PMAY scheme offline: You can also apply for the PMAY scheme offline by visiting the nearest common service centre and filling the application form for PMAY. You need to pay a fee of Rs. 25 plus GST for registration of PMAY subsidy.
Documents for applying for PMAY scheme: To register for the PMAY subsidy you would require the following list of documents.
- Aadhar Card
- PAN card, Voter ID, Driving License
- Proof for minority
- Passport
- Economically Weaker Section certificate or Low Income Group certificate
- Salary slips
- IT return statements
- Property valuation certificate
- Bank details and account statements
- Address proof
- Details of the property
Thus, the eligible beneficiary can easily avail the benefits of PMAY subsidy for a home loan depending on their eligibility criteria. The individuals who do not own any land or property can also build the house for themselves under PMAY scheme. Pradhan Mantri Awas Yojana also lay its primary focus on the certain strata of the society, which includes widows, transgenders, the disabled, minorities and seniors by mandating female homeownership and giving preference to these sections in some instances.
Summary: How to apply for Pradhan Mantri Awas Yojana?
Pradhan Mantri Awas Yojana provides affordable housing to the individuals who have an annual income between Rs 6 Lakhs to Rs. 18 Lakhs. The individual can avail the credit-linked PMAY subsidy for building their homes. The government also aims to provide affordable urban spaces to the slum dwellers in partnership with private sectors.
How and where you can apply for Pradhan Mantri Awas Yojana?
The eligible individuals who meet the income eligibility criteria of PMAY scheme can apply for the Pradhan Mantri Awas Yojana through online and offline modes.
Applying for PMAY online: To apply for PMAY scheme online, the individuals need to register themselves on PMAY website and under the citizen assessment option, select between ‘ For slum dwellers’ and ‘Benefit under the other three components’.Enter the Aadhar details on the page displayed and fill in necessary information such as name, contact number and others in the application form.
Once you have completed the form, enter the Captcha code and click on the Save button.
Applying for PMAY scheme offline: You can also apply for the PMAY scheme offline by visiting the nearest common service centre and filling the application form for PMAY. You need to pay a fee of Rs. 25 plus GST for registration of PMAY subsidy.