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Pradhan Mantri Awas Yojana (PMAY)

By: Priyanka0 comments

The Government of India, five years ago on 25 June 2015, launched a program with a mission of “House for All.” Under the Pradhan Mantri Awas Yojna, the aim is to provide economical housing facilities for the eligible by building 20 million houses throughout the country. The aim is to achieve this by 2022 with the celebration of the 75th year of our independence.

PMAY Scheme

The Pradhan Mantri Awas Yojna is divided into two; PMAY Urban and PMAY Gramin. The construction of the houses under this program are to be eco friendly. The Subsidy is provided with respect to various groups. To suit the needs of individual PMAY(U) Scheme further classified into four verticals consists of In-situ slum redevelopment (ISSR), Credit Link Subsidy Scheme (CLSS), Affordable Housing in Partnership (AHP), and Beneficiary-Led Construction (BLC).

PMAY Scheme distributed in three phases –

  • Phase 1: Covering 100 cities amid April 2015 to March 2017
  • Phase 2: Covering another 200 cities from April 2017 to March 2019
  • Phase 3: Finishing up with the remaining cities from April 2019 to March 2022

As mentioned earlier, the PMAY last date is 31 March 2022.

PMAY Urban (U)

Pradhan Mantri Awas Yojana Urban is to help out the poor urban. As of now, the PMAY-U has more than four thousand cities and towns under this programme. All possible authorities related to the regulation and organization of urban areas are a part of it.

The Ministry of Housing and Urban Affairs released PMAY progress and its updates till July 2019. So far, under PMAY – U, over 83 lakh houses are sanctioned, 26 lakh houses have been built, and over 23 lakh houses are occupied.

PMAY Gramin (G)

Pradhan Mantri Awas Yojana Gramin is specifically for the rural poor. This program’s aim is to provide shelter to homeless in rural areas and assist them financially for a better living.

According to the Ministry of Rural Development, over one crore of houses have already been sanctioned across all states and Union Territories. The beneficiaries are to be available according to the Socio-Economic and Caste Census (SECC) and consist of SC, ST, minorities under BPL, etc.

PMAY Eligibility Criteria

Resident Type

Resident Indian/NonResident India (NRI)/Person of Indian Origin (PIO)

Income

Your annual household income should not be more than 18 lakh.

Property Area (Sqm)

The maximum carpet should be less than or equal to 200sqm.

Age of the applicant

The personnel should be below the age of 75 and should not have any house of their own on anyone’s name in the family across the country.

Co-applicant

For LIG and EWS sections, ownership of houses is mandatory in the name of a female member or joint name.

Obligation

Under the PMAY program, the applicant should not have any existing subsidy or benefits from the government.

PMAY Subsidy

Families availing benefits of PMAY get credit or interest subsidies on home loans. The interest subsidy amount depends on the category of income the family lies in.

PMAY has put forth the Credit Link Subsidy Scheme (CLSS) for EWS, LIG, and the Middle Income Groups (MIG). The new MIG category has further two slabs, MIG-I and MIG-II.

  1. EWS: Family income of less than 3 lakhs per annum.
  2. LIG: Family income of less than 6 lakhs per annum.
  3. MIG-I: Family income between 6 lakhs and 12 lakhs per annum.
  4. MIG-II: Family income between 12 lakhs and 18 lakhs per annum.

To understand the PMAY scheme in detail, please refer to the table below:

Particulars EWS LIG MIG-I MIG-II
Household Income (Rs) Upto 3 lakh 3 to 6 lakh 6 to 12 lakh 12 to 18 lakh
Carpet Area in sqm 30 60 160 200
Interest Subsidy (% p.a.) 6.5% 6.5% 4% 3%
Subsidy Amount 2,67,280/- 2,67,280/- 2,35,068/- 2,30,156/-
Woman Ownership Yes Yes Not Mandatory Not Mandatory
Scheme Eligibility 31March 2022 31March 2022 31March 2021 31March 2021

We have provided you with the necessary information about the Pradhan Mantri Awas Yojna in this article, feel free to write us in case of queries.

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