Pradhan Mantri Awas Yojana (PMAY) is an initiative rolled out by the Government of India to provide affordable housing to all by the year 2022. As per official records, PMAY Assam has identified over 57,154 urban households for a subsidy of Rs.2 lakh each. However, since the Prime Minister Awas Yojana, Assam caters to both urban and rural population, you can qualify for either PMAY-G or PMAY-U, Assam depending on certain parameters such as your economic standing.
A Brief Introduction of PMAY in Assam
Difference between PMAY-U and PMAY-G in Assam
The PMAY Gramin Assam aims to provide a pucca house for the homeless or those living in dilapidated or kutcha houses. The vision here is to help around 1 crore households by providing pucca homes that have a minimum size of 25 sq.mt. These homes are to contain basic amenities like a hygienic cooking area. PMAY-U’s goal, on the other hand, is to help the urban poor and you have to complete various formalities before applying for benefits through it.
Read on for an in-depth explanation of this initiative and the PMAY benefits available in Assam.
Who is a PMAY Beneficiary?
A PMAY beneficiary is an individual who qualifies for the scheme on the basis of annual income. There are 4 main income groups: Economically Weaker Section (EWS), Low Income Group (LIG), Medium Income Group 1 (MIG- I) and Medium Income Group 2 (MIG – II). Additionally, for PMAY, a beneficiary family consists of a wife, husband and unmarried children.
What are PMAY Eligibility Criteria?
In order to avail PMAY Assam’s subsidies on home purchase, you must first qualify for the scheme. Here are the eligibility criteria you must meet.
1. You must fall under one of the eligible income groups.
- Economically Weaker Section: Where annual household income is less than Rs.3 lakh
- Lower Income Group: Where annual household income is between Rs.3 lakh and Rs.6 lakh
- Middle Income Group I: Where annual household income is above Rs.6 lakh and under Rs.12 lakh
- Middle Income Group II: Where annual household income is above Rs.12 lakh and under Rs.18 lakh
2. You or your family must not own a pucca house in any part of the country
3. You or your family must not have availed financial assistance from any other government housing scheme
4. PMAY benefits are applicable on purchase or construction of a new unit or when enhancing and old home with basic facilities
5. Scheduled caste and scheduled tribe citizens are also eligible for the scheme
6. Apart from cases in which there is no female member in the family, the property needs to be co-owned by a woman
If you meet these criteria, you may apply for PMAY and avail affordable home loan financing via the Credit Linked Subsidy Scheme (CLSS). Here’s how you check if you have qualified for PMAY Assam.
How can You Check if You Feature on the PMAY List for Assam?
Checking if you feature on the PMAY list for Assam is simple and must be done online. Here are the steps you can follow to check the PMAY urban list.
- Visit the official PMAY website
- Navigate to the ‘Search Beneficiary’ option and click on it
- Enter your Aadhaar number and click on ‘Show’
- A list of details will be generated on the next page. If your application details are present, your information will show up on the list
To check if you feature in the PMAY rural list, here is what you need to do.
- Visit the official PMAY-Gramin website
- Enter your registration number and click on ‘Submit’
- If your number is on the list, your information will feature on the screen
However, if you do not have your registration number, log on to the page and go over to ‘Advanced Search’. On this page, fill in all the applicable fields and click on the ‘Search’ button. A list will then get populated and you will have to manually look through it to check if you feature on it.
Components of the PMAY Assam
The Pradhan Mantri Awas Yojana (PMAY) is a flagship housing scheme of the Government of India aimed at providing affordable housing to the urban and rural poor. The components of PMAY Assam, or any PMAY scheme in a specific state, may vary slightly based on local requirements and policies. However, the basic components of PMAY typically include:
- Credit-Linked Subsidy Scheme (CLSS): Under CLSS, beneficiaries are provided interest subsidy on home loans, making it more affordable for them to own a house. The subsidy is linked to the loan amount and income criteria.
- Affordable Housing in Partnership (AHP): This component involves public-private partnerships for the construction of affordable housing units. The government collaborates with private developers to create affordable housing projects.
- Beneficiary-led Construction (BLC): In BLC, eligible beneficiaries are provided with financial assistance to construct their own houses. The assistance is given directly to the individual or family to build a house on their own land.
- In-Situ Slum Redevelopment (ISSR): This component focuses on the redevelopment of existing slums, providing better housing and amenities to slum dwellers. It involves upgrading and improving the living conditions in the existing settlements.
- Credit-Linked Subsidy Scheme for Middle-Income Groups (CLSS-MIG): This is an extension of the CLSS for middle-income groups, providing interest subsidies to individuals falling within specified income categories.
- Technology Innovation Grant (TIG): TIG is aimed at promoting the use of innovative and sustainable construction technologies in affordable housing projects.
Pradhan Mantri Awas Yojana (PMAY) Assam scheme details
1. Objective:
PMAY aims to provide affordable housing for all by the year 2022, especially targeting the economically weaker sections, low-income groups, and middle-income groups.
2. Components:
- Credit-Linked Subsidy Scheme (CLSS): Provides interest subsidies on home loans to eligible beneficiaries.
- Affordable Housing in Partnership (AHP): Involves public-private partnerships for the construction of affordable housing units.
- Beneficiary-led Construction (BLC): Provides financial assistance to eligible beneficiaries to construct their own houses.
In-Situ Slum Redevelopment (ISSR): Focuses on the redevelopment of existing slums to improve living conditions.
- Credit-Linked Subsidy Scheme for Middle-Income Groups (CLSS-MIG): Extends the subsidy to middle-income groups.
3. Eligibility criteria:
The eligibility criteria may vary for each component but generally consider factors such as income, ownership of a pucca house, and location.
4. Application process:
Eligible individuals can apply for the scheme through the official PMAY website or through designated Common Service Centers (CSCs).
5. Subsidy amount:
The subsidy amount varies based on the category of the beneficiary and the component of the scheme. It is provided as a reduction in the interest payable on home loans.
6. Monitoring and implementation:
The implementation of PMAY involves collaboration between the central government, state government, urban local bodies, and other stakeholders. Monitoring mechanisms are in place to ensure effective implementation.
To get detailed and updated information on the PMAY scheme in Assam, please visit the official PMAY website or contact the relevant housing department or municipal authorities in Assam.
Features and benefits of PMAY
When you avail of PMAY in Assam, here are the features and benefits that you can enjoy.
- A maximum interest subsidy of 6.5% on a home loan
- Access to houses and units built with eco-friendly materials and sustainable technology
- Access to ground floor units if you are specially-abled or a senior citizen
- Access to affordable housing in developing and developed parts of Assam
As you may have noticed, Pradhan Mantri Awas Yojana goes a long way in helping first-time homebuyers secure a residential property of their dreams. Once you’re aware of the basics, apply for a Bajaj Housing Finance Limited Home Loan to enjoy CLSS benefits. By doing so you can get an interest subsidy of up to Rs.2.67 lakh. Additionally, when you apply for this home loan you can get up to Rs. 15 crore* for a maximum tenor of 32 years. What’s more, thanks to lenient eligibility criteria you can easily qualify for this loan and unlock other features as well. With facilities such as property dossier and doorstep services, you can become a homeowner with even greater ease.
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