Housing is an elementary need every citizen of the nation is entitled to. While the upper and middle class can afford to buy their own property, the majority of the lower middle class and economically weaker income group are deprived of this basic need. Thus, to address this issue in the country, the Indian Government announced the Pradhan Mantri Awas Yojana (PMAY). The scheme aims to build around 20 million homes by the year 2022.
One can apply for the Pradhan Mantri Awas Yojana online via a simple procedure. However, before that, it’s essential to understand the scheme in detail.
Benefits of Pradhan Mantri Awas Yojana 2019
The PMAY scheme intends to offer shelters to the homeless population in India. It comes with numerous benefits for its beneficiaries such as –
- PuccaHouses For The Homeless
Under PMAY, the Union Government aims to build affordable pucca homes for the urban poor, including the rural areas.
- Women And Minorities
The GOI has mandated female home-ownership under this scheme in certain instances even if she’s not the one purchasing the property. Additionally, widows, disabled, minorities, seniors and transgender individuals are also given preference under this scheme. Moreover, if a senior citizen applies under the PMAY scheme, he/she will be allotted a ground floor unit.
- Home Loan Subsidy
PMAY beneficiaries can avail home loan interest rate subsidy. Under the Credit-Linked Subsidy Scheme or CLSS, property buyers can avail a subsidy depending on their income categories – Economically Weaker Section or EWS, Low Income Group or LIG and Middle Income Group or MIG.
To apply under this scheme, one must fulfill the following PMAY eligibility and conditions:
- The applicant and his family members must not own a pucca house.
- The applicant must be a resident of India.
- The annual household income of EWS must be within Rs. 3 Lakh. For LIG, it’s between Rs. 3 Lakh and Rs. 6 Lakh and Rs. 6 Lakh and Rs. 18 Lakh for MIG.
- If the applicant belongs to any of the mentioned income groups, he/she must produce income proof or an affidavit to avail benefits under PMAY.
- Those with annual income between Rs. 6 and Rs. 18 Lakh can only avail an interest subsidy on Pradhan Mantri Awas Yojana loan.
- People from the minority section must provide caste proof and income certificates.
- Senior and disabled citizens shall be preferred over other categories when applying for a home on the ground floor.
- As PMAY is a pro-woman scheme, female members of a household would be given more preference.
PMAY Online Registration Procedure:
Following are the steps to apply for Pradhan Mantri Awas Yojana online–
- Visit the official PMAY registration page
- Click on ‘apply here.’
- Put your Aadhaar card details, enter your annual household income and click ‘next.’
- Following that you’ll be redirected to the verification process – select OTP and ‘proceed’.
- You’ll get the PMAY application. Fill up all the necessary details after which you’ll be provided with an Assessment ID to track your PMAY application status.
The acknowledgment receipt must be downloaded for future reference. Also, you can check Pradhan Mantri Awas Yojana List online to see if your application is approved or not.
The beneficiary needs to submit the following documents for the Pradhan Mantri Awas yojana online application –
- Age proof (must be between 25 and 65 years of age)
- Income proof
- Unique identification like Aadhar card, PAN card, etc.
- Caste proof (if any)
- Address proof
- Income tax returns
- Account statements
Following the guidelines mentioned above will help you in purchasing a property under this housing for all schemes with a home loan.