About Pradhan Mantri Awas Yojana –
Basic aim is – Housing For All. – Pradhan Mantri Awas Yojana is a vision of PM Narendra Modi.
Pradhan Mantri Awas Yojana (Urban) is a scheme of the Prime Minister of India where all facilities will be provided in a place. The government has identified 305 cities and towns have been identified in 9 states for beginning construction of houses for urban poor so far under this scheme.
The Mission is being implemented during 2015-2022 years in between. PMAY was launched in June 2015.
Also Read- All Government Scheme And News
Who is Eligible Under Pradhan Mantri Awas Yojana
Check out if you or you are not eligible to get your own house under this scheme.
Who fall under this Scheme-
Condition – 1> Those annual income is less than 3 Lakhs –
Individuals who fall in economically weaker sections which means those having less than Rs 3 lakhs as annual family income fall under this scheme.
Condition – 2> Beneficier should not owns a pucca house –
The beneficiary family should not own a pucca house either in his/her name or in the name of any member of their family in any part of India to be eligible to receive central assistance under the mission.
Note : In 2016 The main beneficiaries of this latest housing for all scheme 2022 will be women, people mainly who belongs to
- SC (Scheduled Caste )
- ST (Scheduled Tribe)
- Economically weaker sections.
Also , the Central Government lower income group has been defined as households whose income is between Rs 3 lakhs to Rs 6 lakhs.
How to Apply for Pradhan Mantri Awas Yojana?
People who fall under Pradhan Mantri Awas Yojana can go for these simple steps to get their own house definitely upto 2022.
- Visit the bank which is eligible Under PMAY.
- Request for Form or (Offline Process)
- Download the Application Form (Online Process)
- Fill in the required Details
- Submit the Form at concerned Office (Offline)
- Submit your form as per directions(Online)
Note : Regarding Any query Individuals can visit any Public Sector Banks, National Housing Banks for more information on the scheme.
Credit Linked Subsidy Scheme under PMAY -(CLSS)
Credit linked subsidy will be provided on home loans taken by eligible urban poor for acquisition, construction of houses.
For Credit Link Subsidy scheme these points must be noted –
- Interest subsidy at the rate of 6.5% for a tenure of 15 years or tenure of loan whichever is lower.
- Interest subsidy will be available for loan amount only upto Rs 6.00 Lakhs
- Loan amount beyond 6.00 Lakhs will be at non-subsidized rate i.e.,normal Bank rate will be applicable.
Conclusion – In case if loan is availed for construction purpose, disbursement will be made in stages as per progress in construction.
- The construction to be completed within 18 months to become eligible for subsidy
- Loan can be applied either directly or through Urban Local Body or NGO or through the Local Agency identified by the State/ULB.
- Carpet area of the construction should be upto 30 sq.m for economically weaker section and upto 60 sq.m. for low income group
- CLSS Guidelines- Download Attachment