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A Complete Guide About Pradhan Mantri Awas Yojana in Odisha

  • Highlights

  • PMAY Odisha aims to construct 49,142 housing units

  • Avail PMAY in Odisha as a salaried or self-employed citizen

  • Get up to 6.5% interest subsidy on home loans with PMAY

  • Avail PMAY subsidy via Bajaj Housing Finance Limited

Pradhan Mantri Awas Yojana is a Government of India initiative that has been designed to make affordable housing a reality for every strata of the society. Since the beginning, this scheme has encouraged the construction of affordable housing units in every state of India, bringing more choices to first-time homeowners. Pradhan Mantri Awas Yojana in Odisha is no different, and in its efforts to curb homelessness it has already facilitated the construction of over 14.5 lakh houses in rural areas.

However, the mission does not end there; the state government of Odisha also aims to complete construction of an additional 49,142 housing units for urban beneficiaries. The government understands the rising real estate prices in prominent areas like Patrapada, Raghunathpur and Kalinga Nagar, which keep the middle-income and low-income earners from buying a home. Thanks to PMAY, the Odisha government wants to help every city dweller realise their dream of owning a house.

As a homebuyer in Odisha, PMAY comes to your aid in many ways. Most importantly, you can benefit from CLSS (Credit Linked Subsidy Scheme) and get interest subsidies on your home loan based on your income and economic standing. However, in order to qualify for PMAY benefits, you need to meet a set of eligibility terms and know the process via which you can apply for PMAY.

Know the All Aspect of PMAY Odisha

Eligibility Criteria and Documents Required to avail PMAY in Odisha

In order to benefit from this initiative in Odisha, you should first qualify for it. Here are the categories you can qualify for based on your annual income.

  • EWS segment: Your household income in a year should be below Rs.3 lakh.

  • LIG segment: Your household income in a year should be within Rs.3 to 6 lakh.

  • MIG 1 segment: Your household income in a year should be within Rs.6 to 12 lakh.

  • MIG 2 segment: Your household income in a year should be within Rs.12 to 18 lakh.

This is the first step to qualify for PMAY; here are the other PMAY eligibility criteria you need to abide by to become a beneficiary.

  • You or your family must not have availed financial assistance from any other government housing scheme in the past.

  • You or your family should not own a pucca house in any part of India.

  • As per the terms of the scheme, women and weaker sections of the society are given first preference. This scheme promotes mandatory homeownership for women for the LIG/EWS and rural segments. This way it aims to uplift the status of widows, unmarried women, SC/ST groups and transgender individuals in the society.

Now that you know more about the eligibility criteria, here are the documents you need to have on hand.

Home Loan under PMAY yojana | Bajaj Finserv

Salaried individuals

  • Identity proof: While PAN card is mandatory, you may also submit Aadhaar card, Voter’s ID, Driver’s licence or Passport.

  • Address proof: Voter’s ID, Aadhaar card, latest utility bills, property tax receipt or rent agreement on stamp paper are considered as valid address proofs.

  • Proof of income: The mandatory documents are salary slips, bank statements, and ITR reports.

  • Property documents: These include copies of the documents of the property, agreement to sell, allotment letter, and the receipts of payments made to the developer.

  • Miscellaneous documents: Documents pertaining to current loans and the respective repayment track record.

Self-employed individuals

  • Identity proof: While PAN card is mandatory, you may also submit Aadhaar card, Voter’s ID, Driver’s licence or Passport.

  • Address proof: Voter’s ID, Aadhaar card, latest utility bills, property tax receipt or rent agreement on stamp paper are considered valid.

  • Address proof for business entity: Trade license certificate, SSI registration certificate or establishment certificate

  • Proof of income: The mandatory documents are ITR reports, CA-certified balance sheet for profits and losses, and account statements of the business entity.
  • Property documents: These include copies of the documents of the property, agreement to sell, allotment letter and the receipts of payments made to the developer.

  • Miscellaneous documents: Documents pertaining to current loans and the respective repayment track record, MOA and partnership deed.

Key Features of PM Awas Yojana Odisha

The key features of PMAY Odisha are as follows.

  • You can avail a maximum interest subsidy of 6.50% amounting to Rs.2.67 lakh under this scheme.

  • The maximum carpet area that you can purchase via PMAY as an Economically Weaker Section and Low Income Group beneficiary is 60 sq.mt.

  • The maximum carpet area that you can purchase via PMAY as Middle-income Group I and II beneficiaries is 160 and 200 sq.mt. respectively.

  • Units constructed under PMAY Odisha are equipped with eco-friendly amenities and built using sustainable technologies.

  • Senior citizen and different-abled beneficiaries are given preference for ground floor houses.

List of Beneficiaries under Prime Minister Mantri Awas Yojana in Odisha

In order to know whether or not you feature in the Pradhan Mantri Awas Yojana Odisha list 2019, here are the steps you need to follow.

  • Visit the official PMAY website at https://pmaymis.gov.in/

  • Click on the ‘Search Beneficiary’ option.

  • Enter your Aadhaar number and click ‘Show’.

  • A list of details will get generated on the next page. If you are enlisted as a beneficiary, your information will be featured on the page.

Process to Apply for Pradhan Mantri Awas Yojana, Odisha

Once you affirm your eligibility for PMAY basis your income group and other terms, you can apply for PMAY Odisha, using these simple steps.

  • Log on to the official PMAY website at http://pmaymis.gov.in/

  • Hover over ‘Citizen Assessment’ and select ‘Benefit under other 3 components’.

  • Enter your Aadhaar number and name.

  • You will then be redirected to a form. Fill it with accurate information.

  • After filling the form, check it and scroll down to the bottom of the page to enter the captcha code for verification.

  • Check the box and click the ‘save’ button to complete your application.

If you fall under the slum dweller category, here is how you can apply.

  • Log on to the PMAY website at http://pmaymis.gov.in/

  • Hover over ‘Citizen Assessment’ and select ‘For slum dwellers’.

  • Fill your Aadhaar number and name.

  • You will then be redirected to a form. Fill it with all the relevant information.

  • After filling the form, check it for accuracy and scroll down to the bottom of the page to enter the captcha code for verification.

  • Check the box and then click on the ‘save’ button to complete your application.

Now that you know how to register yourself for this government offering, you should start scouting the market for suitable loans. The key here to pick a lender that allows you to avail additional benefits along with CLSS. For example, the Bajaj Housing Finance Limited Home Loan is an excellent fit to meet this need because apart from the subsidy you can also get an ample sanction of up to Rs.3.5 crore for a flexible tenor of up to 20 years.

What’s more, you also enjoy the full benefits of a top-up loan and a property dossier. The top-up loan allows you to access funds over and above your existing home loan and this can come in handy when making home improvements or meeting emergencies. The property dossier is a handy feature as it contains all the vital information about the home, making it easy to manage the financial, legal and technical aspects of being a homeowner.

So, take advantage of PMAY in Odisha to avail CLSS benefits and obtain cost-effective housing loan financing with a reputed lender of your choice!

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