Pradhan Mantri Awas Yojana (PMAY) is a government home loan scheme introduced in June 2015 with a vision to boost affordable housing. PMAY Scheme was launched by Prime Minister Narendra Modi, it aims to provide over 2 crore affordable housing with water connection, toilet facilities and 24*7 power supply to eligible families/beneficiaries by March 31, 2022.
Pradhan Mantri Awas Yojana is classified into 2 types on the basis of focus areas:
- Pradhan Mantri Awas Yojana – Gramin/Rural (PMAY-G)
- Pradhan Mantri Awas Yojana – Urban (PMAY-U)
Pradhan Mantri Awas Yojana Gramin (PMAY-G)
Pradhan Mantri Gramin Awas Yojana–Gramin (PMAY-G) aims to fulfil the housing requirements of the rural poor. Its objective is to provide financial assistance and/or pucca houses along with all the basic amenities, such as power supply, sanitation, etc. to families without houses or living in kutcha and dilapidated houses in rural areas of India, except Delhi and Chandigarh.
Pradhan Mantri Awas Yojana Urban (PMAY-U)
Pradhan Mantri Awas Yojana – Urban aims to fulfil the housing requirements of the urban poor. There are about 4,331 towns and cities under this scheme. The scheme will progress in 3 phases:
- Phase 1: PMAY phase 1 covers 100 cities in select States/UTs between April 2015 and March 2017
- Phase 2: PMAY phase 2 covers 200 additional cities between April 2017 and March 2019
- Phase 3: PMAY phase 2 covers the remaining cities between April 2019 and March 2022
The Ministry of Housing and Urban Poverty Alleviation will have the flexibility to include additional cities in earlier phases if there is a resource backed demand from states and union territories.
Pradhan Mantri Awas Yojana – Urban (PMAY-U) is nearing its target of meeting the ‘Housing for All’ aim in urban areas. The scheme, which has a deadline of 2022, has sanctioned over 88 lakh houses till now. A total of 2.99 lakh houses have been sanctioned as part of 865 proposals from 10 states. With the approval of above fresh proposals, cumulative sanctions of houses under PMAY-U is now 88.16 lakh against a validated demand of 1.12 crore.
Key features of Pradhan Mantri Awas Yojana scheme are as below:
- Grant of Rs. 1 lakh per house by the Government of India for slum rehabilitation.
- Central assistance of Rs. 1.5 lakh per dwelling unit for affordable housing in partnership and beneficiary-led individual house construction/enhancement
- Interest subsidy of up to 6.5% on housing loans
- Interest subsidy is applicable to a maximum loan tenure of 20 years or the loan tenure availed by the borrower, whichever is lower
- Encourages women to be homeowners or co-applicant.
- Compulsory ground floor accommodation for senior citizens and differently abled
- Mandatory use of sustainable and eco-friendly materials for house construction
- Quality of house/flat will be as per the guidelines of National Building Code (NBC) and National Disaster Management Authority (NDMA)
- Approval on building designs is compulsory before construction.
- No limit on loan amount or cost of property.
PMAY Beneficiaries List
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)
Read Also: How to Check Your Name in PMAY List
PMAY Points to Note:
- Beneficiary family includes husband, wife, unmarried sons and/or daughters
- Adult earning member of the family irrespective of his/her marital status can be treated as a separate household, provided he/she does not own a pucca house in his/her name in India
- In case of married couple, either of the spouses or both in joint ownership will be eligible for a single subsidy
- Adult earning member of the family with a pucca house of built-up area less than 21 sq. m. may be included for enhancement of existing dwelling units up to 30 sq. m. In case the enhancement is not possible due to lack of land availability/space or any other reason, he/she may get a house under PMAY (U) elsewhere
Read Also: How to Avail Home Loan Subsidy under PMAY
PMAY Eligibility Criteria
Beneficiaries can avail PMAY benefits by meeting the following eligibility criteria:
- 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 EWS category get complete assistance under the scheme, while those from MIG and LIG categories are only eligible for Credit Linked Subsidy Scheme (CLSS) under PMAY.
Pradhan Mantri Awas Yojna Components
The PMAY has 4 major components. Housing for All by 2022” mission seeks to address the housing requirements of urban poor through the following program verticals:
- Promotion of Affordable Housing for weaker section of the society through Credit Linked Subsidy (CLSS): The CLSS PMAY component provides subsidies on home loan interest rates to those eligible for this scheme.
The PMAY subsidy rate, subsidy amount, maximum loan amount, and other details have been mentioned below for LIG, EWS and MIG:
|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|
|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|
- In-situ rehabilitation of slum dwellers using land resource by collaborating with private organisations: This vertical aims to leverage the locked potential of lands under slums. It also aims to bring slum dwellers into the formal urban settlement by providing houses to eligible families or individuals. The slum rehabilitation grant of an average of Rs. 1 lakh per house would be admissible for all houses built for eligible slum dwellers.
- Affordable Housing in Partnership with Public & Private Sectors: This PMAY component provides financial assistance to EWS families to the tune of Rs. 1.5 lakh on behalf of the Central Government . State and UTs can partner with their agencies or private sector to develop such housing projects.
- Subsidy for beneficiary-led individual house construction/enhancement: This component of PM Awas Yojana caters to the housing requirements of EWS families who cannot avail the benefits under the other three components. To such beneficiaries, the Central Government provides financial assistance of up to Rs. 1.5 lakh, which the beneficiary can use for house construction or improvement of an existing one.
Process to Apply for PMAY
PMAY Application process for New Applicants
- To apply online for PMAY, visit PM Awas Yojana official website
- Select “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 of your Aadhaar number, 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
Existing Home Loan Borrowers
Home loan borrowers who are eligible for PMAY subsidy but have not availed it while taking home loan can submit their request. The bank will review your request and will submit the claim to National Housing Bank (NHB). After data validation and other checks, NHB will disburse the amount to the lender who will credit the same to the respective home loan account of the borrower and adjust in the loan accordingly.
Q1. Are there any charges applicable at the time of PMAY application?
Yes, a nominal fee of Rs. 25 + GST is to be paid at the time of form submission. Potential beneficiaries applying for the scheme online do not need to pay.
Q2. Is it possible to apply for the scheme without Aadhaar number?
Aadhaar number is mandatory to apply online. Individuals can apply for Aadhaar card from their nearest CSC. Click here to locate your nearest CSC.
Q3. How to check PMAY subsidy status online?
- Visit the PM Awas Yojana official website
- Select “Track Your Assessment Status” option under “Citizen Assessment” menu
- Once you select the option, you will be redirected to Track Assessment Form
- Track your assessment status using either your name, father’s name and ID type or assessment ID
- Provide the required details
- The result will appear