Objectives and Features of Pradhan Mantri Awas Yojana Scheme

Pradhan Mantri Awas Yojana is a scheme by the Indian Government that takes limelight to make it better for homeless people in India. The main proposal of this scheme is to construct 20 million homes for those people belonging to the Low-Income Families, Middle Income Groups and Economically Weaker Sections by 2022.

Here is all you need to know about the PMYA scheme:

Objective of PMAYscheme

The visionary Pradhan Mantri housing Yojana scheme focus on four categories includes:

  • Building and/ or enhancing the houses led by legatees
  • Promotion of ‘Affordable Housing’ for weaker section through credit linked subsidy
  • Rehabilitation of existing slum dwellers with private sector participation using land as resource
  • Affordable housing in association with private and government funding

Features of PMYA scheme

  • The Indian government will provide an interest subsidy of 6.5% on housing loans availed by the beneficiaries for a period of 15 years from the commencement of their loan tenure.
  • This scheme can well be termed as a Pro-women scheme due to its preference over to the female applicants in the family.
  • During the allocation of houses under the scheme of PMAY, the preference in allocating the ground floors will be given to the senior citizens and to the differently-abled.
  • All the houses built under PMYA scheme would be carried out through technology and will have eco-friendly compliance.

Eligibility to apply for PMAY scheme

People belonging to low-income group families, middle income groups and economically weaker section of the society is elgibole for PMAY. Moreover, if you fulfill the stated eligibility and if your family comprises of husband, wife and unmarried children you can avail this PMYA benefits. In order to avail the benefits of PMYA scheme the person should not own a pucca house either in his name or in the name of any member of your family in any part of India to receive central assistance under the Mission.

Income criteria

The income criteria will be considered to provide the PMYA benefits. The income group of EWS, MIG, LIG will be only taken into account to get the benefits of this scheme.

  • The households with an annual income up to Rs. 3 Lakh will be considered as Economically Weaker Section- EWS.
  • The households with an annual income between Rs. 3 Lakh to Rs. 6 Lakh will fall under Lower Income Group-LIG.
  • Whereas the families annual incomes of above Rs 6 lakhs to Rs 18 lakhs will fall under the bracket of Middle-Income Groups- MIG.

Only the families fall under the above-given income group are eligible for interest subsidy on housing loans under the Credit Linked Subsidy Scheme (CLSS).

How to Apply Pradhan Mantri Awas Yojana?

If you are eligible to avail this scheme, you can apply through both offline and online modes. The urban poor people can apply through the CSC- Common Services Centres that are available for delivering government services. Also, the citizens can apply through the official online portal of PMYA.

  • To apply online you have to visit the PMAY official website: http://pmaymis.gov.in/
  • Find the “Citizen Assessment” option from header menu section
  • Enter your Aadhaar card number
  • Once completed you will be landing on the application page, fill the required details and make sure all the information filled are accurate.
  • Then download the application form and print the page
  • Submit the form at your nearest CSC office centres and financial institution/banks along with the required documents.