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Instituted in 2015 with a vision of providing ‘Housing for all by 2022’, the Pradhan Mantri Awas Yojana has already facilitated the construction of 1.53 crore houses as of February 2019. One way PMAY helps urban dwellers meet their housing needs is through the Credit Linked Subsidy Scheme (CLSS). As of 30 December, 2018, around 3.39 lakh people have availed of subsidy to the tune of Rs.7,543 crore. Beneficiaries can find their names on the Pradhan Mantri Awas Yojana list online and then avail a home loan from a primary lender offering CLSS benefits. Read on to know more about PMAY, the PMAY list for beneficiaries and how to check your name on it.
Pradhan Mantri Awas Yojana is a central housing scheme rolled out by the Government of India that seeks to get around 20 million houses built affordably by 31, March 2022. The year 2018’s Budget allotted around Rs.6,500 crore for the PMAY’s CLSS initiative and beneficiaries can find their names on official PMAY lists. PMAY offers home loan subsidies to Economically Weaker Section, Lower Income Group and Middle Income Group earners.
Here’s a detailed overview of PMAY subsidy benefits extended to the four income groups under this scheme.
|Income Categories||Annual Income of the Household||Maximum Tenor of Home Loan (In Years)||Interest Subsidy (Rate)||Maximum Interest Subsidy (Amount)||Eligible Amount of Home Loan Qualifying for Subsidy (Maximum)||Maximum Carpet Area (Dwelling Unit)|
|EWS||Rs.3 lakh (Maximum)||20||6.50%||Rs.2.67 lakh||Rs.6 lakh||30 sq. m.|
|LIG||Between Rs.3 lakh and Rs.6 lakh||20||6.50%||Rs.2.67 lakh||Rs.6 lakh||60 sq. m.|
|MIG – 1||From Rs.6 lakh to Rs.12 lakh||20||4.00%||Rs.2.35 lakh||Rs.9 lakh||160 sq. m.|
|MIG – 2||Between Rs.12 lakh and Rs.18 lakh||20||3.00%||Rs.2.30 lakh||Rs.12 lakh||200 sq. m.|
Also, the applicable discount rate for interest subsidy NPV calculation stands at 9.00% for all income groups.
Recently, the last date for MIG persons to benefit from this scheme was extended to 31 March, 2020. EWS and LIG earners can avail PMAY CLSS (Credit Linked Subsidy Scheme) through to 2022.
As a PMAY list 2018-19 applicant, you can see whether you have made it to the beneficiary list online at PMAY’s official website. After entering in your query, scan the results to know if you are a beneficiary in the Pradhan Mantri Awas Yojana list for 2018 or 2019.
The PMAY beneficiary list is released separately for urban and rural applicants.
- For the PMAY-Gramin beneficiary list
a) Rural list without registration number
Step 1 – Visit PMAY-Gramin’s official website.
Step 2 – Click on the ‘Advanced Search’ button located below the beneficiary search option with the registration number.
Step 3 – Next, on the page you are redirected to, enter all required details like your state, block, name, sanction order, etc.
Step 4 – Once you fill in all the essential details, press the ‘Search’ button.
Step 5 – If your name has been included in the PMAY Rural beneficiary list, it will be displayed on the screen.
b) Rural List with registration number
Checking the PMAY beneficiary list with registration number is relatively simpler.
Step 1 – Open PMAY-Gramin’s official website.
Step 2 – Enter your registration number and submit.
Step 3 – Your name will be displayed on-screen if you are selected as a PMAY beneficiary.
- For the PMAY Urban beneficiary list
Check your name in the PMAY urban beneficiary list in the following few steps.
Step 1 – Visit PMAY’s official website.
Step 2 – Navigate to the ‘Select Beneficiary’ tab on the upper-left corner of its home page.
Step 3 – From the dropdown menu, select ‘Search by Name’ option.
Step 4 – You will be redirected to a new page where you will need to provide your Aadhaar number.
Step 5 – Once the Aadhaar number is entered, click on the ‘Show’ button.
Step 6 – On completion, check your name from the PMAY Urban list appearing on your screen.
PM Awas Yojana lists are made using data from the Socio-Economic Caste Census 2011. Additionally, assistance is taken from local panchayats and tehsils when shortlisting beneficiaries. State and UT Governments also aid in selecting beneficiaries towards the PMAY list.
The main objective of PMAY is to provide affordable housing for urban dwellers. Reports indicate that by 2050 half of India’s population will be concentrated in urban areas and by 2031, the number of urban dwellers will hit the 600 million-mark. To meet pressing urban housing needs such as these, PMAY lists 4 separate initiatives:
“In-situ” Slum Redevelopment
Credit-Linked Subsidy Scheme (CLSS)
Affordable Housing in Partnership (AHP)
Beneficiary-led individual house construction or enhancement.
EWS and LIG individuals who feature on the PM Awas Yojana list can avail subsidy at a rate of up to 6.5% for a tenor of up to 15 years. The subsidy rates are capped at 4% and 3% for MIG-1 and MIG-2 persons respectively. The maximum subsidy obtainable on home loans via PMAY CLSS is 2.67 lakh.
PMAY encourages women applicants, who are given preference to become homeowners.
Under in-situ slum redevelopment and AHP differently abled persons and senior citizens are to enjoy preference for ground- or lower-floor flat allocation.
PMAY encourages green technologies and building materials in construction.
As per guidelines, in order to make it to a PMAY list or claim benefits from any of the 4 verticals, a beneficiary family, which consists of you, your spouse and unmarried children, should not own a pucca house in any family member’s name in any part of India. Additionally, to claim PMAY CLSS benefits, the carpet area of the dwellings should not exceed the specified limits: 60m2 for EWS and LIG earners and 160m2 and 200m2 for MIG-1 and MIG-2 earners respectively. Finally, you can claim PMAY benefits from only one of the 4 initiatives and not all.
Once you find your name on the Pradhan Mantri Awas Yojana list, proceed to pick the right home finance solution. At present you get funding up to Rs.3.5 crore at some of the lowest interest rates in the country with the Bajaj Finserv Home Loan. You can repay your loan over a tenor of up to 240 months, make prepayments and foreclose your loan at no additional cost and compute your EMIs with the EMI calculator. To get started, check your pre-approved home loan offer from Bajaj Finserv. Doing so gives you instant approval through a customised deal.
1. How do I apply for PMAY online?You can apply for the Pradhan Mantri Awas Yojana online at the official website of PMAY. Go to the ‘Citizen Assessment’ tab and click on ‘Benefits under 3 Components.’ Next, provide your Aadhaar number and fill up the application form with necessary details to apply. Keep your application number and assessment ID generated for future reference. Check the PMAY list to see whether you are enrolled in it.
2. How can I check my PMAY status online?After completing the application process, you can track your application status online at the PMAY portal. Use your assessment ID during the application process to check. Alternately, you can use other details like your name, father’s name, etc. to check the status and whether your name appears on the PMAY list as well.
3. How is PMAY subsidy credited?Once your name appears on the PMAY list, you are entitled to benefit from home loan interest subsidies under this scheme. Intimate your financial institution about your qualification to avail the home loan interest subsidies and fill up the application form. Once the verification is complete, your financer will apply for the subsidy at PMAY nodal agencies and credit the same to your account.
4. Is PMAY applicable for rural areas?Yes, PMAY is applicable for rural areas as well and is known as Pradhan Mantri Awas Yojana Gramin. This scheme aims to provide affordable housing to individuals residing in the rural areas as well. Check for your name on the PMAY list to avail interest subsidies on home loans availed to purchase a property.
5. Is PMAY applicable for a resale flat?The Credit Linked Subsidy Scheme PMAY is not applicable for resale flats. Rural and urban residents can avail the subsidy under the scheme only on home loans availed for the purchase or construction of a new house. Check whether your name is available on the PMAY list to avail the benefits of the scheme.
6. What is the assessment ID in PMAY?Assessment ID is a unique identification number provided to each individual applying for the PMAY scheme. Applicants can check their status online with the help of an assessment ID. Use it to check whether your name is added under the beneficiaries on the PMAY list.
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