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Pradhan Mantri Awas Yojana 2024 Eligibility Criteria & Subsidy Details

The Pradhan Mantri Awas Yojana (PMAY) , launched by the Government of India on June 25, 2015, is a flagship housing initiative aimed at providing affordable housing to both urban and rural populations. The program is divided into two main components: PMAY-Urban (PMAY-U) and PMAY-Gramin (PMAY-G) . The overall goal of PMAY is to ensure that every citizen in India has access to a pucca (permanent) house by March 2022. With a target of constructing 2 crore (20 million) homes, the scheme addresses the housing needs of low and middle-income groups. Key Features of PMAY Feature Details Credit-Linked Subsidy Interest subsidy on housing loans for various income groups: - EWS : 6.5% interest subsidy - LIG : 6.5% interest subsidy - MIG-I : 4% interest subsidy - MIG-II : 3% interest subsidy Loan Tenure Up to 20 years for all income groups. Income Groups ...
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Pradhan Mantri Awas Yojana 2024 Eligibility Criteria & Subsidy Details

The Pradhan Mantri Awas Yojana (PMAY), launched by the Government of India on June 25, 2015, is a flagship housing initiative aimed at providing affordable housing to both urban and rural populations. The program is divided into two main components: PMAY-Urban (PMAY-U) and PMAY-Gramin (PMAY-G). The overall goal of PMAY is to ensure that every citizen in India has access to a pucca (permanent) house by March 2022. With a target of constructing 2 crore (20 million) homes, the scheme addresses the housing needs of low and middle-income groups.

Key Features of PMAY

Feature Details
Credit-Linked Subsidy Interest subsidy on housing loans for various income groups:
- EWS: 6.5% interest subsidy
- LIG: 6.5% interest subsidy
- MIG-I: 4% interest subsidy
- MIG-II: 3% interest subsidy
Loan Tenure Up to 20 years for all income groups.
Income Groups Income limits for eligibility:
- EWS: Up to ₹3 lakh annual income
- LIG: ₹3 lakh to ₹6 lakh annual income
- MIG-I: ₹6 lakh to ₹12 lakh annual income
- MIG-II: ₹12 lakh to ₹18 lakh annual income
Women Ownership Houses under PMAY must be owned by women or jointly with male family members.
Sustainability Initiatives Eco-friendly construction technologies and integration with essential services like sanitation and electricity.

PMAY Loan Subsidy Details

One of the most attractive features of PMAY is the Credit-Linked Subsidy Scheme (CLSS), which provides interest subsidies on housing loans. Below is a breakdown of the subsidy amounts:

Income Group Interest Subsidy Maximum Loan for Subsidy Maximum Subsidy Amount
EWS (Economically Weaker Section) 6.5% ₹6 lakh ₹2.67 lakh
LIG (Lower Income Group) 6.5% ₹6 lakh ₹2.67 lakh
MIG-I (Middle Income Group I) 4% ₹9 lakh ₹2.35 lakh
MIG-II (Middle Income Group II) 3% ₹12 lakh ₹2.30 lakh

Eligibility Criteria for PMAY

To qualify for the benefits under the PMAY scheme, applicants must meet the following eligibility criteria:

Criteria Details
Income - EWS: Up to ₹3 lakh per year
- LIG: ₹3 lakh to ₹6 lakh per year
- MIG-I: ₹6 lakh to ₹12 lakh per year
- MIG-II: ₹12 lakh to ₹18 lakh per year
Property Ownership The applicant or any family member must not own a pucca house in any part of India.
Previous Benefits The applicant must not have previously availed of central assistance under any housing scheme.
Women Ownership For new properties under PMAY-U, it is mandatory that the house is registered in the name of a woman or jointly.
Aadhaar Requirement Applicants must possess an Aadhaar card.

How to Apply for PMAY

The application process for PMAY is straightforward and can be done both online and offline.

Online Application Process:

  1. Visit the Official Website: Go to pmaymis.gov.in.
  2. Select ‘Citizen Assessment’: Scroll to the ‘Citizen Assessment’ section and choose your category (EWS, LIG, or MIG).
  3. Enter Aadhaar Details: Provide your Aadhaar number for verification.
  4. Complete the Application Form: Fill in your personal details, income information, and contact details.
  5. Submit the Application: After verifying all details, submit the application and save a copy for your records.

Offline Application Process:

  1. Visit a Common Service Centre (CSC): Go to the nearest CSC.
  2. Get the Application Form: Request the PMAY application form.
  3. Fill Out the Form: Complete the form with the necessary details.
  4. Submit the Form: Submit it along with the application fee (₹25 + GST).

Recent Developments in PMAY

The PMAY initiative has recently been extended to include marginalized workers such as migrant laborers and contract workers. Additionally, the Union Cabinet has approved an extension of the scheme until 2029, aiming to build 2 crore more houses to meet the growing housing demand.

Progress of PMAY

PMAY has made significant strides in providing affordable housing across India. Below is a snapshot of the progress made:

Component Total Houses Sanctioned Houses Grounded for Construction Houses Completed
PMAY-Urban (PMAY-U) 1.18 crore 1.14 crore 83.67 lakh
PMAY-Gramin (PMAY-G) 2.94 crore N/A 2.62 crore

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