Pradhan Mantri Awas Yojana Vadodara - all you need to know

The government launched the Pradhan Mantri Awas Yojana scheme to provide affordable housing options to all by 2022. Under this scheme, urban and rural populations are offered affordable houses and subsidies on loans to buy, build a new house, or renovate an existing one. Since its launch, the Pradhan Mantri Awas Yojana has been a huge hit and has received an overwhelming response in states and cities that have implemented it.

The latest entrant to this list is Vadodara. With renting getting more expensive, PMAY Vadodara could not have come to you at a better time. However, to avail of all PMAY benefits, you need to meet specific eligibility criteria and familiarise yourself with the process. Therefore, read on to know the ins and outs of PMAY Vadodara.

What are the objectives of PMAY Vadodara?

The VMC plans to construct 190 houses and 74 shops under the Pradhan Mantri Awas Yojana, Vadodara. Each unit will have a carpet area of 35 sq. ft. with two rooms and a kitchen. The Central Sanctioning and Monitoring Committee have already approved the entire project costing Rs. 15.09 crore. As per the plans, 102 houses and 40 shops will be constructed in a yet-to-be-decided location, and the remaining 88 flats and 34 shops in Subhanpura area.

What are the benefits of PMAY Vadodara?

Under the PMAY Vadodara scheme, you can avail a subsidy of up to 6.5%, amounting to Rs. 2.67 lakh on your home loan. Additionally, to advocate equal opportunities, Pradhan Mantri Awas Yojana prioritises women, senior citizens, SC/ ST, backward classes, and minority applicants. Also, it makes women ownership mandatory for lower-income groups and economically backward group beneficiaries, helping widows and women own a home. Furthermore, disabled and senior citizen applicants are given priority on the house allocation front and ground floor accommodation mandatorily.

What are the eligibility criteria and the documents required for PMAY Vadodara?

To apply for the Pradhan Mantri Awas Yojana Vadodara scheme, you must meet the following PMAY eligibility criteria.

First, your annual household income must fall within the following brackets.

• Economically Weaker Section: Yearly household income less than Rs. 3 lakh
• Lower Income Group: Annual household income above Rs. 3,00,000 and under Rs. 6,00,000
• Middle Income Group I: Yearly household income above Rs. 6 lakh and under Rs. 12 lakh
• Middle Income Group II: Yearly household above Rs. 12 lakh and under Rs. 18 lakh

Apart from this, you or your family must not own a pucca house in any part of the country, and no one in your family must have availed financial assistance from any other government housing scheme.

Documents required for PMAY Vadodara

Once you qualify based on your eligibility criteria, arrange for the following documents along with your duly filled PMAY application form.

• Identity proof such as PAN card, Aadhaar card, voter’s ID, passport, driving license
• Address proof such as utility bills or ration card
• Category proof such as an SC/ ST/ OBC or other minority community certificate
• Income proof such as salary slips, ITR, Form 16, or last 6 month’s bank statement. However, in case your income is below the taxable limit, submit a self-affidavit income certificate. Also, if you belong to the EWS or LIG category, you are required to submit a self-declaration form. Furthermore, if you are a business proprietor or self-employed, you will need to submit a written note explaining the nature of your business and, if asked, a self-attested financial statement

Also, you need to arrange for the following property documents.

• Valuation certificate of your property from a registered authority
• Approved construction plan
• Certificate mentioning construction and repair costs and expected life of the house as given by architects or engineers
• Construction agreement with the builder
• Document to prove that the location of construction meets the requirements of the law
• No Objection Certificate
• A contract of sale or a letter of property allotment
• An affidavit stating that no one in your household owns a house in the country
  

Dates to remember for PMAY Vadodara

Remember that as a MIG (I and II) beneficiary, the last date to apply for the Credit Linked Subsidy Scheme (CLSS), under the Pradhan Mantri Awas Yojana Vadodara scheme is 31st March 2020. However, the last date for other beneficiaries is 31st March 2022.

How to check if you are a beneficiary for PMAY Vadodara?

To know whether or not you feature in the PMAY list, follow these steps.

• Log on to this website
• Click on the ‘Search Beneficiary’ option
• Enter your Aadhaar number and click ‘Show'
• If you are enlisted as a beneficiary, your information will be featured on the page

How to apply for PMAY Vadodara?

Applying for PMAY Vadodara is easy; you can apply online on the official PMAY website just by identifying your eligibility category, which is:

• Citizens living in slums
• Citizens who don’t own land or have no means to secure a home loan (select the Affordable Housing in Partnership (AHP) option)
• Citizens who don’t own land or a house and want to construct or enhance a property (select Beneficiary Led Construction, BLC, option)
• Citizens who are capable of managing to purchase, construct or enhance a house with a home loan (select CLSS)

Once you know your category, you can log on to this website and apply for PMAY. Here, click on ‘Citizen Assessment’ and select the category you fit in. Then, enter your Aadhaar details, fill the application form and enter the captcha code to submit it. After that, you can track your application by clicking on the ‘Track your Assessment Status’ option under ‘Citizen Assessment’.

Now that you know all about PMAY Vadodara, apply for a Bajaj Finserv Home Loan to avail a subsidy of up to 6.5% under the Credit Linked Subsidy Scheme. Due to the relaxed eligibility criteria, you can get a loan up to Rs. 15 crore* with a tenor up to 40 years*, along with add-on features like a top-up loan, doorstep document pick-up, and property dossier. To get started right away, check your pre-approved offer from Bajaj Finserv.