Pradhan Mantri Awas Yojana Delhi

Buying a home in Delhi can be difficult as properties in areas such as Greater Kailash and Dwarka are exorbitantly priced. Given the fact that not many people can afford to buy residential properties in Delhi, the government introduced Credit Linked Subsidy Scheme (CLSS) under Pradhan Mantri Awas Yojana (PMAY) in 2015. The objective of PMAY is to provide affordable housing to first-time home buyers belonging to Economically Weaker Section (EWS), Low Income Group (LIG) and MIG I & II (Middle Income Group) by 2022. Under PM Awas Yojana Delhi, over 15 housing projects have been initiated with each project featuring basic amenities such as water supply, electricity, sanitation, etc.

PMAY-CLSS makes buying homes more affordable and with the help of a home loan, beneficiaries can become a homeowner even more easily as the scheme provides an upfront interest subsidy of up to Rs. 2.67 lakh. To know who is eligible to apply for Pradhan Mantri Awas Yojana, read further.

Note: The Union Cabinet has extended the implementation period of Pradhan Mantri Awas Yojana – Urban (PMAY – U) till December 31, 2024 with all verticals except Credit Linked Subsidy Scheme (CLSS). CLSS vertical for MIG I & II under PMAY U was up to March 31, 2021 and for LIG/EWS was up to March 31, 2022. During the extension period no additional houses will be sanctioned. However, financial assistance is to be provided for the completion of 122.69 lakh houses, which were already sanctioned till March 31, 2022, under BLC, AHP & ISSR verticals of PMAY U.

PMAY Delhi – Eligibility Criteria     

The eligibility criteria for PMAY Delhi are:

• Any member of the beneficiary family should not own a pucca house in India
• Beneficiary family should not have availed any housing scheme from the Government of India/State Government
• Beneficiary family should not have availed PMAY subsidy from any of the Primary Lending Institutions (PLIs)
• Home loan borrowers who availed the subsidy but during the loan tenure switched to another lender under home loan balance transfer cannot claim the benefit again
• Beneficiary families under the MIG income group need to furnish their Aadhaar numbers to avail the benefit

Beneficiaries Under Pradhan Mantri Awas Yojana Delhi

The list of beneficiaries under Pradhan Mantri Awas Yojana is:

• Economically Weaker Section (EWS): Families with annual income of up to Rs. 3 lakh
• Low Income Group (LIG): Families with annual income between Rs. 3 lakh and Rs. 6 lakh
• Middle Income Group I (MIG I): Families within annual income between Rs. 6 lakh and Rs. 12 lakh
• Middle Income Group II (MIG II): Families with annual income between Rs. 6 lakh and Rs. 12 lakh
• Women falling under EWS and LIG income groups
• Scheduled Caste (SC), Scheduled Tribe (ST), and Other Backward Class (OBC)

Pradhan Mantri Awas Yojana Delhi Coverage

As per the Census 2011, all the statutory towns are eligible for the cover under the Pradhan Mantri Awas Yojana.

How to Apply for Pradhan Mantri Awas Yojana in Delhi?

• To apply online for PMAY, visit the PM Awas Yojana official website
• Select the “Benefit under other 3 components” option under “Citizen Assessment” menu
• Enter your 12-digit Aadhaar number and name as mentioned on your Aadhaar card
• On successful verification, you will be redirected to the PMAY application page
• Enter the required details like your personal information, income details and bank account details
• Tick on the “I am aware of…” checkbox
• Enter Captcha and Click the “Save” button
• Once you click the “Save” option, a system generated application number will appear, which you can save for future reference
• Download and print the filled in application form
• Submit the form at your nearest Common Service Centers (CSC) or financial institution/banks along with the supporting documents

Individuals can also avail the PMAY subsidy through Prime Lending Institutions in Delhi such as the State Bank of India (SBI), HDFC Ltd. and Bank of Baroda (BOB). They can apply for home loan at any of the lending institutions and submit their request for PMAY scheme. The lender will review your request and will submit the claim to National Housing Bank (NHB). Post data validation and other mandatory checks, NHB will disburse the eligible amount to the lender who will then credit the same to the respective home loan account of the borrower and adjust in the loan accordingly.

Key Features of Pradhan Mantri Awas Yojana (PMAY) Delhi

The key features of the Pradhan Mantri Awas Yojana 2019 in Delhi are as follows.

• You can avail a maximum interest subsidy of Rs.2.67 lakh
• The interest subsidy is only available to first-time homebuyers
• The carpet area for Economically Weaker Section beneficiaries cannot exceed 30 sq. m.
• The carpet area for Low Income Group beneficiaries cannot exceed 60 sq. m.
• The carpet area for Middle Income Group I and II beneficiaries cannot exceed 160 sq. m. and 200 sq. m., respectively
• The interest subsidy that can be availed under PMAY is up to 6.50% for a loan of Rs.6 lakh over the actual term or a tenure of 20 years, whichever is lower
• The interest subsidy is available for people who are constructing or purchasing homes for the first time. The beneficiary family must not own any other property in their name
• A woman must be one of the co-owners of the house
• The extension or construction should be completed within a period of 36 months

Pradhan Mantri Awas Yojana (PMAY) Delhi Scheme in a Nutshell

Particulars	EWS	LIG	MIG I	MIG II
Household Income	Up to Rs. 3 Lakh	Rs. 3 – 6 Lakh	Rs. 6 – 12 Lakh	Rs. 12 – 18 Lakh
Interest Subsidy	6.50%	6.50%	4.00%	3.00%
Eligible Loan Amount for Subsidy Calculation	Up to 6 Lakh	Up to 6 Lakh	Up to 9 Lakh	Up to 12 Lakh
Maximum Subsidy	Rs. 2,67,280	Rs. 2,67,280	Rs. 2,35,068	Rs. 2,30,156
Maximum Loan Tenure	20 yrs.	20 yrs.	20 yrs.	20 yrs.
Maximum carpet area	30 sq. m.	60 sq. m.	160 sq. m.	200 sq. m.
Discount Rate for NPV Calculation of Interest Subsidy	9.00%	9.00%	9.00%	9.00%
Application of scheme on existing home loans sanctioned on or after	17.06.2015	17.06.2015	01.01.2017	01.01.2017
Woman Ownership/Co-ownership	Mandatory for a new house. Not mandatory for an existing property		Not Mandatory	Not Mandatory

Benefits of Applying Pradhan Mantri Awas Yojana in Delhi

After the subsidy is disbursed, the amount will go to the loan account of the borrower and the principal amount will be adjusted accordingly. Thus, the outstanding loan amount will be reduced which will, in turn, bring down the EMIs (Equated Monthly Instalments) for the borrower of the home loan.

Check Also: Home Loan EMI Calculator

Authorities Responsible for the Implementation of PMAY Scheme in Delhi

Some of the authorities that are responsible for the implementation of Pradhan Mantri Awas Yojana in Delhi are:

• DUSIB (Delhi Urban Shelter Improvement Board)
• DDA (Delhi Development Authority)
• MHUPA (Ministry of Housing and Urban Poverty Alleviation)