Pradhan Mantri Awas Yojana 2023: Launched on June 25, 2015, the Pradhan Mantri Awas Yojana (Urban) Mission aims to provide homes for people in urban areas by the year 2022.
The Mission provides Central Assistance to the implementing agencies via States/Union Territories (UTs) and Central Nodal Agencies (CNAs) in order to provide homes to all eligible families and beneficiaries in response to the verified housing need of around 1.12 crore. According to PMAY(U) regulations, the size of a dwelling for the Economically Weaker Section (EWS) might be up to 30 square meters of carpet space; however, States/UTs have the discretion to increase the size of houses with the Ministry’s approval.
Pradhan Mantri Awas Yojana 2023
In contrast to prior schemes, PMAY (U) has made it necessary for the female head of the family to be the owner or co-owner of the house under this Mission, continuing this Government’s efforts to empower women from EWS and LIG. PMAY Verticals (Urban) Through the use of the next four possibilities, a variety of options are taken to guarantee the inclusion of a larger group of individuals based on their financial situation, income, and land availability.
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Pradhan Mantri Awas Yojana 2023 Benefits and Eligibility Criteria 2022/23
The Pradhan Mantri Awas Yojana (PMAY) scheme was launched by the Government of India to boost the affordability of houses against inflated real estate Pradhan Mantri Awas Yojana 2023.
PM Awas Yojana Benefits:
Those who are eligible under this scheme will get a subsidy on home loan interest rates. The details such as subsidy rate, maximum loan amount, and other details have been given in the table below:
The “Housing for All” Mission for urban areas has been implemented with effect from 17.06.2015 to provide central assistance to implementing agencies. Pradhan Mantri Awas Yojana 2023 The Credit Linked Subsidy Scheme is being offered under this mission.
For the Middle Income Group(MIG), the interest subsidy will be provided on housing loans for the acquisition/construction of houses (including repurchase).
For the Economically Weaker Section(EWS)/Lower Income Group(LIG), the interest subsidy will be provided on housing loans for the acquisition, and construction of houses. Pradhan Mantri Awas Yojana 2023 The Credit Linked subsidy would also be available for home loans availed for new construction and the addition of rooms, kitchens, toilets, etc. to existing dwellings as incremental housing.
The interest subsidy benefit will be upfront on the principal outstanding.
The availability and amount of interest subsidy are subject to meeting income criteria as per various categories under the scheme.
- A beneficiary family will comprise of husband, wife, unmarried sons, and/or unmarried daughters.
- An adult earning member (irrespective of marital status) can be treated as a separate household
Applicant/s will be eligible under this mission when all below conditions are met:
- The beneficiary family should not own a pucca house (an all-weather dwelling unit) either in his/her name or in the name of any member of his/her family in any part of India.
- The beneficiary family should not have availed of central assistance under any housing scheme from the Government of India/State government.
- The beneficiary family should not have availed of any PMAY – CLSS subsidy from any of the Primary Lending Institutions (‘PLI’).
- All Statutory Towns as per Census 2011 and towns notified subsequently would be eligible for coverage under the Mission.
- The construction/extension for which the loan is availed must be completed within 36 months from the date of the disbursement of the 1st installment of the loan amount.
- Additional Criteria for LIG/EWS category only: The houses constructed/acquired with central assistance under the Mission should be in the name of the female head of the household or in the joint name of the male head of the household and his wife, and only in cases when there is no adult female member in the family, the house can be in the name of a male member of the household.
Documents Required for Pradhan Mantri Awas Yojana:
- Proof of identity:
- PAN card
- Voter ID card
- Aadhaar card
- Driving license
- Photo credit card
- Photo identity card issued by the Government
- A letter issued by a recognized public authority that confirms the identity of the customer with a photograph
Proof of address:
A letter issued by a recognized public authority confirming the identity and residence of the applicant
- Life insurance policy
- Residence address certificate
- Voter ID card
- Aadhaar card
- Proof of income:
- Last six months’ bank statement
- ITR receipts
- Salary slips for the previous two months
- Proof of purchase of the property (if applicable):
- Sale deed
- Sale/purchase agreement
- Property registration certificate (if available)
Copy of receipt of payment made to the developer (if applicable)One must make sure that he/she is eligible for the subsidy before application. Also, the applicant should check whether his/her name is present on the beneficiary’s list as well to receive the subsidy benefit.
The Method listed below Step by Step is the online Process:
- Visit the official government website belonging to PMAY.
- Click on the ‘Citizen Assessment’ option under the ‘Menu’ tab.
- An applicant must enter his/her Aadhaar number.
- With the successful submission of the Aadhaar number, he/she will be redirected to the application page.
- The applicant must proceed to enter all relevant details on this page, including income details, personal details, bank account details, and other necessary information.
- Applicants should recheck all information before submission.
- Once a person clicks on the ‘save’ option, he/she will find a unique application number.
- Applicants should, next, download the filled-in application form.
- Finally, the person can deposit the form at his/her nearest CSC office or a financial institution offering PMAY. He/she must also submit all necessary documents along with the form.
Alternatively, individuals can opt for the offline application procedure and approach an authorized bank branch to apply for the scheme if they find the online process inconvenient.
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- Who is eligible for Pradhan Manti Awas Yojana?
- The following individuals and families are eligible for this scheme:
- Economically Weaker Section (EWS) – Families with an annual income up to Rs. 3 Lakh.
- Low Income Group (LIG) – Families with an annual income between Rs. 3 Lakh and Rs. 6 Lakh.
- Middle Income Group I (MIG I) – Families with an annual income between Rs. 6 Lakh and Rs. 12 Lakh.
- Middle Income Group II (MIG II) – Families with an annual income between Rs. 6 Lakh and Rs. 12 Lakh.
- Women belonging to EWS and LIG categories.
- Scheduled Caste (SC), Scheduled Tribe (ST), and Other Backward Classes (OBC).
- In addition to the above, beneficiaries can avail the benefits of this scheme by meeting the following few eligibility criteria –
- He/she must not own a house to fulfill the Pradhan Mantri Awas Yojana eligibility.
Visit the PMAY-Gramin official website
Visit the PMAY-Gramin official website.