While property rates in the Area locality of Bhopal, Madhya Pradesh, have increased by 93.9%, Wright Town has seen a rise of 68.8% and Indore’s Rajendra Nagar has witnessed an appreciation of 59.7%. With property prices on an upswing, availing a home loan under PMAY or Pradhan Mantri Awas Yojana, a Government-backed housing scheme launched in 2015, is extremely beneficial.
To achieve its objective of offering affordable housing for all by 2022, the Government has built houses in several locations across the country for the urban poor including the Economically Weaker Sections (EWS), Low Income Group (LIG) individuals, and Middle Income Group (MIG I and II) individuals. In addition, under the Credit Linked Subsidy Scheme (CLSS) of PMAY, eligible beneficiaries can obtain home loans at subsidised rates. To implement the objectives of PMAY at a state level, the government of Madhya Pradesh launched PMAY MP.
Learn about PM Awas Yojana MP and its Benefits
About PM Awas Yojana MP
The MP Housing & Infrastructure Development Board (MPHIDB) has launched several housing projects across the state to carry out the objectives of PMAY. While the housing board has promised 461 units in Shivpuri, Jabalpur is in line to benefit from a staggering, 15,000 new homes. With an active housing board driving projects, affordable housing via PMAY is not far away. Below are PMAY MP’s key features.
Key Features of Pradhan Mantri Awas Yojana MP
- PMAY offers an interest subsidy of up to Rs. 2.67 lakh on home loans with a maximum tenor of 15 years
- The scheme empowers women in that barring exceptional cases, a female member of the household must be the owner or co-owner of the house
- Senior citizens and differently-abled applicants get a preference in terms of ground floor flat allotment
Eligibility Criteria - PMAY MP
To qualify for PMAY your household must belong to one of the following income categories.
- Economically Weaker Sections and Low Income Group: Annual household income of up to Rs. 6 lakh
- Middle Income Group I: Annual household income of over Rs. 6 lakh, up to Rs. 12 lakh
- Middle Income Group II: Annual household income of over Rs. 12 lakh, up to Rs. 18 lakh
Apart from the income-related criteria, here are some additional terms to be aware of.
- You should not own a pucca house in any part of the country
- You or your family should not be a beneficiary of another housing scheme initiated by the Government of India
These two conditions are applicable to a beneficiary family, which in case of PMAY consists of husband, wife and unmarried children.
Documents Required for PMAY in Madhya Pradesh
Once you meet the PMAY eligibility criteria, gather the following documents to prove your eligibility.
- A duly filled an online application form
- Identity proof like PAN card, Aadhaar card, passport, voter’s ID or driver’s license
- Address proof like utility bills or ration card
- SC/ST/OBC certificates, if applicable
- Income proof like salary slips, Form 16, ITR, last 6 month’s bank account statements
- In case your income is below taxable limit, you are required to submit a self-affidavit income certificate
- In case you belong to the EWS or LIG category, you have to submit a self-declaration form
- If you are a self-employed applicant or a businessperson, you have to submit a written declaration stating the nature of your business along with a self-attested financial statement
- Property documents, certified by a registered authority
- Certified valuation certificate
- Approved construction plan
- A certificate from an engineer or architect that mentions the construction and repair costs along with the expected life of the house
- A construction agreement with your builder, if required
- Document to prove that the location of the construction is as per the law
- No Objection Certificate
- A letter of allotment of property or an agreement of sale
- An affidavit that states you or your household doesn’t own a house in India
Steps to Apply for PMAY in MP
- To begin with, identify the beneficiary category you belong to. Select CLSS if you are looking to purchase, construct or enhance a house with a home loan
- Then, click on the ‘Citizen Assessment’ option and pick the appropriate category
- You will be directed to a new page where you must enter your Aadhaar details
- Next, fill a form and enter the CAPTCHA code to submit your application
On successful submission, you can track the status by choosing ‘Track your Assessment Status’ under ‘Citizen Assessment’.
List of Beneficiaries under PM Awas Yojana MP
To check if you are one of the beneficiaries of the PM Awas Yojana list 2019 MP, follow these steps:
- Visit the official PMAY website
- Click on ‘Search Beneficiary’
- Enter your Aadhaar number and click ‘Show’
- Once the results are displayed, look for your name and other details
Once you identify your name on the Pradhan Mantri Awas Yojana 2019 list, MP, apply for a loan that offers interest rate subsidies like the Bajaj Housing Finance Limited Home Loan. Here, along with PMAY benefits of up to Rs. 2.67 lakh, you can enjoy a range of other features like quick approval, easy home loan balance transfer and a top-up loan too. Once you get approval, you can access high-value funding of up to Rs. 3.5 crore on competitive terms. So make use of this loan in conjunction with PMAY and become a homeowner in Madhya Pradesh right away!
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