In 2015, the government of India launched an affordable housing scheme called Pradhan Mantri Awas Yojana (PMAY). The scheme is specifically for the economically weaker sections of society. To buy a house of their own has been a dream of millions, and with this scheme, dreams of many have been fulfilled. In the year 2015, the government aimed to construct approximately 20 million houses at an affordable price by March 31, 2022. Further, the deadline for the affordable housing scheme for the Gramin area- Pradhan Mantri Awas Yojana Gramin (PMAYG)- is extended to December 2024. Under PMAY 2.0, 2.95 crore more houses will be constructed.
Quick Facts About PMAY
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PMAY 1.0 targetted economically weaker sections (EWS), lower-income groups (LIG), and middle-income groups (MIG)
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Under PMAY 2.0, the houses are given to slum dwellers, SC/STs, minorities, widows, persons with disabilities, safai karmi, street vendors, artisans, and anganwadi workers.
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The funding is done by central and state governments, also with involvement from private sectors
In this blog, know about the PMAY eligibility criteria, latest updates about PMAY, PMAY subsidy calculation, how to apply for PMAY online/offline, and related details about the PMAY housing scheme 2023-24.
Also Read: PMAY List
Central Government Gives Nod to PMAY 2.0
The Central government has given the Pradhan Mantri Awas Yojana-Urban (PMAY-U) 2.0 a green signal. This housing scheme would assist one crore urban poor and middle-class families. The houses will be available for purchase or rent at an affordable cost in urban areas in five years (2024-25 to 2028-29).Who Will Get Benefit from PMAY 2.0
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The houses will be given to marginalised groups, including slum dwellers, SC/STs, minorities, widows, persons with disabilities, and other underprivileged sections of society.
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Houses will also be given to communities like Safai Karmi, street vendors, artisans, Anganwadi workers, and residents of slums/chawls.
Eligibility Scheme for PMAY 2.0
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The scheme is available for Economically Weaker Section (EWS), Low Income Group (LIG), and Middle Income Group (MIG) segments.
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EWS households: Annual income up to Rs 3 lakh
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LIG households: Annual income from Rs 3 lakh to Rs 6 lakh
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MIG households: Annual income from Rs 6 lakh to Rs 9 lakh
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Beneficiary-Led Construction (BLC): Financial assistance will be provided to eligible families in the EWS categories. For landless beneficiaries, states/UTs may provide land rights (pattas).
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Affordable Housing in Partnership (AHP): Financial assistance will be provided to EWS beneficiaries to own houses built in different partnerships by states/UTs/cities/public/private agencies. Redeemable Housing Vouchers will be available to the beneficiaries who purchase houses from private projects.
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Innovative construction methods will be used to build houses, and an additional grant will be granted—a Technology Innovation Grant (TIG) at Rs 1000 per sqm/unit.
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Affordable Rental Housing (ARH): This scheme will offer rental houses to working women/industrial workers/ urban migrants/homeless/destitute /students and other eligible beneficiaries. It will provide houses on a short-term basis to urban dwellers who need more financial resources.
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Up to a 4% interest subsidy on the first Rs 8 lakh loan for a maximum 12-year duration
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Loans will be available up to Rs 25 lakh with a property worth up to Rs 35 lakh.
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The maximum subsidy of Rs 1.80 lakh will be offered and paid in five-year instalments.
PMAY Scheme: Objectives
PMAY or Pradhan Mantri Awas Yojana was initiated with the aim of providing affordable dwellings to both rural and urban citiznes of India. Its objective is to provide affordable houses to the economically weaker sections of the society. The key objectives of the PMAY scheme are as follows-
- To provide affordable houses to slum-dwellers with the help of private developers (Engaged in PPP mode)
- To provide affordable houses for the economically weaker sections through CLSS or Credit Linked Subsidy Scheme under PMAY
- To build affordable houses in collaboration with the private sector
- To provide subsidies for beneficiary-led individual house construction.
Pradhan Mantri Awas Yojana Eligibility 2024 (PMAY Eligibility)
As per the Ministry of Housing & Urban Poverty Alleviation, the beneficiaries of PMAY Scheme (PMAY Rural and Urban)are as follows-
- A PMAY beneficiary can be a husband, wife, and their unmarried daughters/sons
- A PMAY beneficiary should not own a pucca house and the house should not be in his/her name or any other member of the family across India.
- Any adult, married or unmarried, can be treated as a separate household altogether.
Beneficiaries Under PMAY Scheme 2024
- MIG I or Middle Income Groups 1: Aannual income between Rs 6 to 12 Lakh
- MIG II Middle Income Group 2: Annual income between Rs 12 to 18 Lakh
- LIG or Low-income Groups: Annual income between Rs 3 to 6 Lakh
- EWS or Economically Weaker Section: Annual income Up to Rs 3 Lakh
While LIG and MIG beneficiaries are eligible only for the CLSS or Credit Linked Subsidy Scheme under Pradhan Mantri Awas Yojana, beneficiaries from EWS are eligible for complete assistance. The applicant needs to submit an affidavit supporting his income proof to be recognized as a LIG or EWS beneficiary under the Scheme.
Pradhan Mantri Awas Yojana Eligibility Parameters
How does Pradhan Mantri Awas Yojana Work?
An Illustration to help you understand-
Pradhan Mantri Awas Yojana Subsidy Calculation (PMAY Subsidy)
PMAY Subsidy Example
In other words, the PMAY Subsidy is credited upfront to the borrower's account, which reduces the effective home loan amount and EMI amount.
What are the Main Components of the Pradhan Mantri Awas Yojana Scheme?
The government has created the following four components to ensure a maximum number of people are covered, depending on their income, finances, and availability of land.
1. Credit Linked Subsidy Scheme (CLSS) - PMAY
The table will explain what’s covered under CLSS scheme.
2. In-situ Slum Redevelopment (ISSR) - PMAY
The In-situ Redevelopment scheme aims to rehabilitate slums in association with private organisations by providing houses to people living in deprived conditions, using land as a resource.
While the respective State or UT will decide the beneficiary contribution, the prices of the houses will be determined by the Central Government.
Under this scheme:
- Financial assistance of Rs. 1 lakh will be provided to slum residents eligible for this scheme to build houses
- Private investors will be selected through the bidding process (whoever offers the best price for this project)
- During the construction period, slum residents will be provided with a temporary accommodation
3. Affordable Housing in Partnership (AHP) - Pradhan Mantri Awas Yojana 2024
The AHP aims to provide assistance of up to Rs. 1.5 Lakh on behalf of the Union Government to families that come under EWS for purchasing & constructing houses. The State/UT can associate with either Private organisations or agencies to develop such projects.
Under this scheme:
- The state/UT shall set an upper limit price for units planned to be provided to buyers under EWS.
- The carpet area is considered for deciding the value of making the constructed houses economically affordable.
- There will be no profit margin on the homes constructed by the State/UTs without the involvement of a private party.
- In the case of private developers, the State / UTs will decide the sale price using a transparent method based on Center / State / ULB incentives.
- The central grant will be applicable only for housing projects that have 35% of the total units built for EWS
4. Beneficiary-led Individual House Construction/Enhancements (BLC) - Pradhan Mantri Awas Yojana 2023-24
This scheme applies to families under EWS who can’t avail of the benefits of the previous three schemes (CLSS, ISSR, and AHP). Such beneficiaries are likely to get financial assistance of Up to Rs. 1.5 Lakh from the Central Govt. for constructing or renovating an existing house.
Under this scheme:
- The Centre will provide unit support in plain areas between Rs 70,000 and Rs 1.20 lakh and hilly and geo-difficult regions between Rs 75,000 and Rs 1.30 lakh
- It’s mandatory to provide personal and other identity documents (relating to landing ownership) to the Under Local Bodies (ULBs)
- Residents from other slums that haven’t been redeveloped can take advantage of this policy if they own a kutcha or semi-pucca home.
- The State shall establish a program for monitoring construction progress by using geo-tagged photographs.
How to Apply for PMAY 2024 Online @ pmaymis.gov.in?
You can apply for PMAY scheme both online and offline.Follow the steps given for the Pradhan Mantri Awas Yojana Gramin online application-
The steps mentioned below would help individuals avail themselves of subsidies for their home loans under the PMAY scheme. The online process to apply for PMAY is mentioned below-
Step 1: Visit the official website of PMAY (Pmay gov in)
Step 2: Click on the Citizen Assessment option under the Menu tab.
Step 3: The applicant will enter his/her Aadhar card.
Step 4: Once the Aadhar number is submitted, he/she will be taken to the application page.
Step 5: The PMAY applicant must proceed to enter all required details on this page, including income details, personal details, bank account details and other required information.
Step 6: The PMAY applicants must recheck all information before submission.
Step 7: As soon as a person clicks on the 'Save' option, he/she will find a unique application number.
Step 8: You must download the filled-in application form.
Step 9: Finally, the person can submit the form at his/her nearest CSC office or a financial institution/bank offering her home loan.He/she should submit all necessary documents along with the form.
PMAY Beneficiary List: How to find your name in PMAY List?
The government releases an annual list of beneficiaries based on data from the SECC 2011. To check your name in the Pradhan Mantri Gramin Awas Yojana list, take the following steps:
- Visit the PMAY beneficiary list website (Pmay gov in)
- Enter your registration number.
- Click on ‘Submit’ to view the status.
- Pradhan Mantri Awas Yojana - Gramin has been one of the most important rural development schemes initiated by the government. If you are looking to get a house under this scheme and if you are eligible, keep track of the annual beneficiary list.
How to check Pradhan Mantri Awas Yojana Application Status (PMAY Status)?
You can take the following steps to check the status of your Pradhan Mantri Awas Yojana application:- Visit the office PMAY Track Assessment Website (Pmay gov in).
- Track the status in one of the two ways:1. Enter your Name, Your Father’s Name, and Mobile Number. 2. Enter your Assessment ID and Mobile Number.
Video - Is there enough money for PMAY houses? (Pmay gov in)
How to Apply for PMAY 2024 Offline?
If you wish to apply offline for Pradhan Mantri Awas Yojana (PMAY), you can directly go to any CSC office near you to get an application form. Fill in the PMAY application form and submit it right there along with other required documents.
Pradhan Mantri Awas Yojana: Documents Required
You will need the following documents to apply for PMAY scheme:
- Consent to use Aadhar information
- An affidavit stating that you (or your family members) do not own a pucca house
- Identity proof such as Aadhar card or Voter ID
- Bank account details
- Swachh Bharat Mission registration number
- Job card number - as registered under MGNREGA (Optional)
Pradhan Mantri Awas Yojana: Listed Bank
You can get a subsidized loan under the Pradhan Mantri Awas Yojana scheme from any scheduled Commercial Bank, Housing Finance Company, State Cooperative Bank, Urban Cooperative bank, Regional rural bank, or any other institution as may be identified by the MoHUA.Is Modi Government Taking PMAY Subsidy Back?
According to new guidelines by the central government, the PMAY subsidy back if the owners are not able to fulfil certain conditions. Let us know under which conditions the subsidy will be taken back:--
In case the borrower defaults on repayment of their home loans, the home loan becomes NPA.
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In case the home loan subsidy has been credited to the bank account of a borrower but the construction of the plot has been stalled. Then, the subsidy will be refunded to the implementation authority.
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If the borrower cannot submit the end-user certificate stating that the construction of the house has been completed, the borrower will be given about a year and a half to submit the required documents. The duration will be calculated from the date of home loan disbursal. In this case, the subsidy amount will also be refunded to the nodal agency.
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