Pradhan Mantri Awas Yojna (PMAY-U)
- Introduction
PMAY
- Introduction
of CLSS
- Process of
applying PMAY scheme
- Eligibility
Criteria to avail PMAY
- Features &
Benefits of PMAY
- PMAY Scheme
Details
- Docs required
for Pradhan Mantri Awas Yojna
- Guideline for
PMAY
- PMAY Beneficiary
- News
Update(Interesting Facts)
1. 2. What is Pradhan
Mantri Awas Yojana (Urban)-PMAY (U)?
The Indian Government under
“Housing for all” which intends to provide a home for all in urban areas by the
year 2022 launched Pradhan Mantri Awas Yojana (Urban) Mission on 25 June 2015.
The PMAY scheme serves to
Economical Weaker Section (EWS)/Lower Income Group (LIG) and Middle Income
Groups (MIG) of the society, given the projected growth of urbanization &
the housing demands in India.
As the Indian Govt. announced,
the scheme will be executed in three phases:
|
Stage of Phase |
Phase-1 |
Phase-2 |
Phase-3 |
|
Phase Start date |
January 4, 2015 |
January 4, 2017 |
January 4, 2019 |
|
Phase End date |
January 3, 2017 |
January 3, 2019 |
January 3, 2022 |
|
Cities Covered |
100 |
200 |
Remaining cities |
Source: Housing
Ministry of India
2. 3.Definition of Credit
Linked Subsidy Scheme (CLSS)
Under the PMAY mission, a subsidy scheme named Credit Linked Subsidy Scheme
(CLSS) wherein Economically Weaker Section (EWS), Low Income Group (LIG), and
Medium Income Group (MIG) can avail home loans for purchase/ construction/
extension/ improvement at reduced EMIs with the help of an interest subsidy.
The interest subsidy will be credited upfront to the beneficiary on the
principal amount.
3. 4. How to Apply
for PMAY Scheme?
Any applicant with an annual income of up to
18 lakh can apply for the PMAY scheme. If you wish to avail of the PMAY subsidy
benefit, you can submit your application at any of our 300+ Aavas Financiers
Ltd.’s branches. Our local branch experts will review your request and process
your request at the earliest. Aavas Financiers aim to make the process quick
and easy for you.
·
Download and fill out
the self-declaration form.
- How&
Where to download PMAY application form?
- Go
to the official website of the PMAY and
click on the Citizen Assessment option. From the drop-down menu, select
Track Your Assessment Status.
c. Once you click on this option, you will get the Track Assessment Form.
Select By Name, Father’s Name, and
Mobile Number or By Assessment Id.
d. Enter
the required details and click on Submit to access the application form. Once
the selected form appears on the screen, click on Print.
·
Submit it at your
nearest Aavas Branch
·
Carry your original ID
proof along with the Aadhaar Card of all family members.
4. 4. Eligibility
Criteria to avail Pradhan Mantri Awas Yojana PMAY
·
To avail of PMAY subsidy, the
residential property you choose must be a single unit or a unit in any
multi-storeyed building.
·
The eligible unit needs to have basic
facilities and infrastructure like toilets, water, sewerage, road, electricity,
etc.
·
The carpet area (walls not included)
must not exceed:
· EWS – 30 square meters (323 sqft)
· LIG – 60 square meters (646 sqft)
· MIG-I – 160 square meter (1722 sqft)
· MIG-II – 200 square meter (2153 sqft)
·
-All statutory towns as per Census
2011 and towns notified subsequently, including planning area as notified
concerning the statutory town.
5. 5. Features & Benefits of Pradhan Mantri Awas
Yojana (PMAY)
·
Quick & Easy process.
·
Simple documentation process.
·
Customized repayment option.
·
Fast Disbursal.
·
No
hidden charges.
·
The
credit-linked subsidy aspect of the PM Awas Yojana is implemented in rural
India.
·
Sustainable
and eco-friendly technologies would be used for construction.
6. 6. Detailed Description about Pradhan Mantri Awas
Yojana PMAY Scheme
The government may
support households by the means of loan assistance or by allowing interest
subsidies. The applicability & amount of subsidy is subject to the
following key criteria:
|
PARTICULARS |
EWS |
LIG |
MIG I |
MIG II |
|
Household Income
(Rs. P.a) |
0-3,00,000 |
3,00,001-6,00,000 |
6,00,001-12,00,000 |
12,00,001-18,00,000 |
|
Eligible Housing
Loan Amount for Interest Subsidy (Rs.) |
Upto 6,00,000 |
Upto 6,00,000 |
Upto 9,00,000 |
Upto 12,00,000 |
|
Interest Subsidy
(% p.a.) |
6.50% |
6.50% |
4.00% |
3.00% |
|
Maximum loan
tenure (in years) |
20 |
20 |
20 |
20 |
|
Maximum dwelling
unit carpet area |
30 Sq. m. |
60 Sq. m. |
160 Sq. m. |
200 Sq. m. |
Source: Housing Ministry of
India
·
PMAY Scheme Loan Tenure
The
maximum Home Loan tenure offered under all four categories is 20 Years.
7. 7.Documents required to avail Pradhan
Mantri Awas Yojana PMAY
|
Below is a list of documents required for applicants to purchase a
home under PMAY: |
|
a. Salaried
Employee |
|
|
|
·
EWS/LIG Income
certificate |
|
·
Income
Certificate (only if the income is below the taxable limit) |
|
·
PAN Card |
|
·
Aadhaar Card |
|
·
Voter’s Card |
|
·
Driving License |
|
·
MNREGA Number |
|
·
Nationality
Identification Proof |
|
·
Proof of
category (belonging to SC/ST/OBC/Minority etc.) |
|
·
Copy of address
proof |
|
·
Income Proof -
Original Salary slip/salary Certificate/other income. |
|
·
Latest Income
Tax Return/ Income Tax Assessment Order/Form no 16, if applicable |
|
·
Bank statement
of last six months |
|
·
Valuation
certificate from the approved valuer, if not valued earlier |
|
·
The approved
plan of construction |
|
·
Architects/Engineers
certificate confirming the cost of construction/cost of repairs/cost of
improvements/cost of extension |
|
·
Architects
certificate confirming expected life, fitness, and future of flat/house in
case of purchase |
|
·
Agreement for
construction with builder/developer |
|
·
NOC from housing
society/competent authority |
|
·
Affidavit-cum-Undertaking
to the effect that the construction is in an authorized area, construction is
strict as per sanctioned plan/building bye-laws and the loan is availed for
acquiring plot/house/flat for residential purpose only |
|
·
Receipt of
advance payment made to builder/seller, if any |
|
·
Affidavit from
the beneficiary that either he/she or any of the family members do not own
a Constructed (pakka) house (all-weather dwelling unit) in any part
of India |
|
·
Letter of
Allotment of property (where the property is proposed to be purchased from
builder/housing boards, etc.)/or Agreement to Sell (where the resale property
is proposed to be purchased), Title deed/lease deed/Mutation in respect of
pre-owned property, which is to be extended. |
|
b. Self-Employed/Business |
|
·
Including with
all requirements for a salaried person in point (a.). ·
Income
Certificate (only if the income is below taxable limit) |
|
·
Income Proof -
Original salary slip/salary certificate/other income proof |
|
·
Latest Income
Tax Return/Income Tax Assessment Order/Form no 16, if applicable |
|
·
A brief note on
the nature of business/ activity / self-drawn attested financial
statement/business license in case of self-employed. |
|
·
Architects/Engineers
certificate confirming the cost of construction/cost of repairs/cost of
improvements/cost of extension |
8. 8. Beneficiary for Pradhan Mantri
Awas Yojana PMAY
PMAY 2021-22 Beneficiary
·
A beneficiary
family comprises a husband, wife, unmarried sons, and/ or unmarried daughters
·
An adult earning
member (irrespective of marital status) can be treated as a separate household.
9. 9. Guideline for PMAY
·
Woman ownership is
not mandatory for construction/extension
·
*As per amendment
dated 15.03.2018, an adult earning member (irrespective of marital status) can
be treated as a separate household. Provided also that in case of a married
couple, either of spouses or both together in joint ownership will be eligible
for a single house, subject to income eligibility of the household under the
scheme.
·
Aadhar number(s)
of the beneficiary family are mandatory for the MIG category.
1010.News & Updates of PMAY
(Interesting Facts)
Comments
Post a Comment