Pradhan Mantri Awas Yojana is a government initiative launched in 2015, which aims to provide affordable housing for first-time homeowners. PMAY promises to build over 2 million pucca homes replete with basic amenities like gas, electricity and water by 2022. Additionally, it offers interest subsidies on housing loans to eligible candidates who belong to the economically weaker, low-income and mid-income groups. The program is divided into two sections, PMAY Urban (PMAY - U) and PMAY Gramin (PMAY - G) that benefit the urban and rural population, respectively.
Read on to know various aspects of Pradhan Mantri Awas Yojana, eligibility criteria, how to apply for PMAY and more.
The PMAY scheme consists of the following four components.
To avail of these benefits, you have to apply for the PMAY scheme. On making a successful application, you will be allotted a unique application number, which you can use to check if your name is mentioned in the Pradhan Mantri Awas Yojana list. The PMAY list contains the names of eligible candidates whose application have been accepted.
Before knowing how to apply for Pradhan Mantri Awas Yojana, see if you meet its eligibility criteria. You are eligible for PMAY if your annual income belongs to the following 4 groups.
Additionally, you or your family members must not own a pucca house anywhere in the country or receive the benefit of any other government housing schemes.
If you qualify for PMAY and are wondering how to apply for PMAY online, follow the step-by-step guide below.
You can track the application status later on by clicking on 'Track your Assessment Status' under 'Citizen Assessment'.
If you are unable to apply online and wondering how to apply, PM Awas Yojana also supports an offline application. Simply visit a state government-run Common Service Centre and fill up the application form for just Rs.25 plus GST. Do note that no private centres or banks are allowed to accept offline PMAY applications.
To access PMAY benefits under the Slum Dweller category, follow the steps given below.
That’s all it takes!
If you qualify for PMAY under any of the three categories of EWS, LIG or MIG (I and II), follow the steps given below.
Now that you have detailed information about the Pradhan Mantri Awas Yojana, how to apply for it, and its benefits and eligibility criteria, consider taking a Home Loan from Bajaj Finserv to enjoy the interest subsidy under this scheme. Here, you stand a chance to save up to Rs.2.67 lakh on your interest outgo as a PMAY beneficiary, while gaining access to a high loan amount of up to Rs.3.5 crore. Further, you can easily repay this loan over a flexible tenor of up to 20 years helping you keep your EMIs pocket-friendly. To expedite the process and enjoy instant financing, check your pre-approved offer from Bajaj Finserv.
PMAY subsidy scheme for MIG I & II category is not extended by regulatory. Category wise scheme validity is mentioned below:
1.EWS & LIG category is valid up to 31st March 2022
2.MIG I & MIG II category was valid up to 31st March 2021