Pradhan Mantri Awas Yojana (PMAY) 2017 – Housing for All, Apply Online Details Pradhan Mantri Awas Yojana is a central government scheme or mission which will be implemented during 2015-2022. The Mission will provide central assistance to implementing agencies through States and UTs for providing houses to all eligible families by 2022. A beneficiary family should consist of husband, wife, unmarried sons or unmarried daughters.
Pradhan Mantri Awas Yojana (PMAY) 2017
An interest subsidy of 3 percent to 6.5 percent has been announced for loans extend between Rs.6 lakh and Rs.12 lakh. For those in the EWS and LIG category who wish to take a loan of up to Rs. 6 lakh, there is an interest concession of 6.5 percent for the tenure of 15 years. So far thousands of people have availed of loans under this scheme. This month, the Government increased the loan amount to Rs. 12 lakh, targeting the Middle Income Groups. The interest subsidy on loans up to Rs.12 lakh will be 3 percent. In rural areas, interest subvention of 3 percent is offered on loans up to Rs. 2 lakh for constructing new homes or extension of old homes.
Objectives Of PMAY Scheme
The main objective of the scheme is to provide affordable housing for urban poor. The scheme was launched by Prime Minister of India Narendra Modi in the year 2015. Under PMAY, it is proposed to build 2 crore houses for urban poor including Economically Weaker Sections and Low Income Groups in urban areas by the year 2022.
Benefits Of Pradhan Mantri Awas Yojana (PMAY) 2017
Under this scheme, applicants will get various benefits from the government. The Central Government will give a subsidy of 6.5% for Economically Weaker Section (EWS) and Low Income Group (LIG) seeking housing loans up to Rs. 6 lakhs from Banks, Housing Finance Companies and other such institutions. Whereas for In-situ” Slum Redevelopment using land as Resource, Government of India grants Rs. 1 lakh per house and State & ULB share will be at the discretion of State at the time of formulation of the project.
Pradhan Mantri Awas Yojana Apply Online
Candidates who are interested to apply online for Pradhan Mantri Awas Yojana need to read this article. Individuals can apply online by filling the form at the official website of Pradhan Mantri Awas Yojana @ www.pmaymis.gov.in. Individuals need to enter their Aadhaar number to apply for the scheme. Go through below passages for details, below we have provided step by step process to Apply Online for Pradhan Mantri Awas Yojana.
CLSS Scheme Details
|Scheme Type||Eligibility Household Income (Rs.)||Carpet Area-Max (sqm)||Interest Subsidy (%)||Subsidy calculated on a max loan of||Validity of scheme||Max Subsidy (Rs.)||Woman Ownership|
|EWS and LIG||Upto Rs. 6,00,000||60 sqm||6.50 %||Rs. 6,00,000||31/03/2022||2.67 Lacs||Yes|
|MIG – I||Rs. 6,00,001 to Rs. 12,00,000||90 sqm||4.00 %||Rs. 9,00,000||31/12/2017||2.35 Lacs||Not Mandatory|
|MIG – II||Rs. 12,00,001 to Rs. 18,00,000||110 sqm||3.00 %||Rs. 12,00,000||31/12/2017||2.30 Lacs||Not Mandatory|
How Will Customer Receives The Interest Subsidy Benefit Under PMAY
The Banks, Housing Finance Companies and other such institutions will claim subsidy benefit for eligible borrowers from National Housing Bank (NHB). The NHB after due diligence would approve & credit the subsidy amount to Housing Finance Companies for all eligible borrowers. For all eligible borrowers, the subsidy amount would be paid to the Banks. Once the Housing Finance Companies receives the interest subsidy, it will be credited upfront to the loan account. The subsidy will be calculated on Net Present Value (NPV) at 9% discount rate.
For example, the borrower avails a loan for Rs. 10 lakh and the subsidy works out to Rs. 2,20,000. The amount (Rs. 2, 20,000) would be reduced upfront from the loan (i.e., the loan would reduce to Rs. 5, 80,000) and the borrower would pay EMIs on the reduced amount of Rs. 5, 80,000.
Steps To Apply Online For Pradhan Mantri Awas Yojana (PMAY) Scheme 2017
Eligible families can apply for Pradhan Mantri Avas Yojana through online at the official website of PMAY. People can follow the below step by step process and apply for the Pradhan Mantri Avas Yojana Scheme easily without any confusion.
- First of all login to the official website pmaymis.gov.in
- Homepage will be loaded
- Now select on Citizen Assessment column
- Various options will be scrolled down
- Click on the type of housing project to which you want to apply
- Now you will be directed to a new page
- Now your applicant Aadhaar number will be asked for existence check
- Enter your Aadhaar number without spaces at specified fields
- After entering the Aadhaar Number Click Check Button
- If your Aadhaar Number does not exist then you are eligible to apply
- You will be directed to a new page where online form is available to fill
- Enter all the details asked their and click submit button
- After a general system check, you will get an acknowledge number
- Preserve the acknowledge number for further use