Pradhan Mantri Awas Yojana (PMAY) – A Detailed Guide

  • 10 months ago
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Pradhan Mantri Awas Yojana - A Detailed Guide

Affordable housing has been a problem for millions of Indians. But with the introduction of the Pradhan Mantri Awas Yojana (PMAY), the government aims to make housing available to every citizen. Launched in 2015, under a broader concept ‘Housing for All’ the scheme aims to construct more than 2 crore houses for both urban and rural citizens. Through PMAY, families can purchase a home at a lower interest rate by availing credit-linked subsidies.

The subsidy, which varies based on one’s income group, has helped thousands of families achieve the dream of owning their own homes. The policy’s broader objective is to provide affordable housing for economically weaker sections and low-income groups, and the government intends to achieve this through in-situ slum redevelopment, credit-linked subsidies, and partnerships with private and public sectors.

According to government data, 2.28 Crore houses have been approved for beneficiaries. Out of these, 1.75 Crore houses have been completed as of March 9th, 2022. The guidelines for PMAY-G require houses to be constructed within 12 months from the date of approval to the beneficiary.

Key Objectives of PMAY

The PMAY scheme aims to address the housing shortage in urban and rural areas by promoting affordable housing through various strategies. These objectives include:

  • Inclusive Housing: Ensuring the availability of housing for all income groups.
  • Slum Redevelopment: Transformation of slums into developed housing colonies.
  • Affordable Home Loans: Facilitating easier access to credit for home purchase or construction.
  • Women Empowerment: Ensuring property titles in the name of women to encourage women’s involvement in family decisions.

Components of Pradhan Mantri Awas Yojana

PMAY has been thoughtfully divided into two major components in order to effectively serve different segments of society. They are

  1. Pradhan Mantri Awas Yojana (Urban): Targeting the urban population with housing solutions and related infrastructure development.
  2. Pradhan Mantri Awas Yojana (Gramin): Focusing on providing housing for the rural populace, improving their quality of life.

Eligibility Criteria

  • The PM Awas Yojana (PMAY) scheme is limited to families with an annual income of up to INR 18 lakhs.
  • To be eligible for the scheme, individuals must not own a permanent house anywhere in India.

Categories of Beneficiaries for the PMAY Scheme

Particulars Interest Subsidy Maximum Loan for Subsidy
EWS 6.50% p.a. Up to Rs.6 lakh
LIG 6.50% p.a. Up to Rs.6 lakh
MIG – 1 4.00% p.a. Up to Rs.9 lakh
MIG-2 3.00% p.a. Up to Rs.12 lakh

EWS – Economically Weaker Section
LIG – Low Income Group
MIG – Mid Income Group

How to apply for Pradhan Mantri Awas Yojana Online?

To apply for a house under the PM Awas Yojana, the Ministry of Housing and Urban Development has created a straightforward process. You can apply through the Govt portal The application form consists of two pages and requires applicants to provide essential personal information. Please follow the below steps to successfully apply for the PMAY scheme.

  • Step 1: Visit the official government website
  • Step 2: Click on the ‘Citizen Assessment’ option under the ‘Menu’ tab.
  • Step 3: Please enter your Aadhaar number.
  • Step 4: After submitting the Aadhaar number, you will be redirected to the application page.
  • Step 5: Now, you must enter all relevant information on this page, including personal details, income, bank account information, and any other necessary details.
  • Step 6: Please recheck all the entered information before submitting.
  • Step 7: Once you click on the ‘save’ option, you will find a unique application number.
  • Step 8: You should, next, download the filled-in application form.
  • Step 9: Please visit the nearby CSC office or financial institution, along with all necessary documents to submit the filled PMAY form.

Individuals can apply for the scheme offline by approaching an authorized bank branch if they find the online process inconvenient.

Documents Required for Pradhan Mantri Awas Yojana

For Salaried Applicants

Salaried people need to present the following documents to avail of the benefits from this CLSS.

  • Application Form which can be downloaded from the official website
  • Proof of identity – PAN card is mandatory. You must also provide additional identity proof, which includes Aadhaar Card, Voter ID Card, Driving License, Passport, or any other Photo-identity card issued by a government authority.
  • Proof of address – You can provide documents such as a current passport, Voter ID Card, Aadhaar Card, utility bill, rent agreement, life insurance plan, residence address certificate, savings bank account statement, property tax receipts, or a credit card statement that is no more than three months old.
  • Proof of income – 6 months’ bank statement, last 2 months’ salary slip, and ITR or latest Form 16.
  • Property documents – Copy of agreement to sale, copy of complete chain property documents, copy of receipt of payment, copy of the allotment letter.
  • Additional Documents – Marriage Certificates, Death Certificate of Spouse for widows

For Self-employed Applicants

If you work for yourself, you’ll need similar kinds of documents mentioned in the previous section. However, you would need to give some extra information about your business and income, such as

  • Address Proof for Businesses – A proof of your business existence is mandatory. It may include trade license certificate, Shops and Establishment Certificate, sales tax, PAN Card, or VAT registration certificate, SEBI Registration Certificate, Memorandum of Association, Partnership Deed, etc.
  • Income Proof – It can include ITR for the preceding two years, Profit & Loss and Balance Sheet info. Lastly, you also need to provide the last six months’ account statement for the business, along with a similar statement for his/her personal bank account.

PMAY Customer Care Helpline Numbers

For any queries related to PMAY, you can call the toll-free helpline number provided below:

  • 1800-11-6163 (Urban, HUDCO)
  • 1800-11-6446 (Gramin)
  • 1800-11-3388 (Urban, NHB)
  • 1800-11-3377 (Urban, NHB)

If you have any further queries about the scheme, please write to us at Stay tuned with REAL FYND to be updated with the recent happenings in the world of real estate in India.

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