Online application for the Pradhan Mantri Awas Yojana 2023 (PMAY), eligibility requirements for urban areas (Sehri), and application form using the pmaymis SECC 2011 List

What is the Pradhan Mantri Awas Yojana

Housing for All, also known as the Pradhan Mantri Awas Yojana (PMAY) or Housing for All scheme, is an Indian housing initiative for all those who fall under the low-income, economically disadvantaged, and middle-income group categories. A housing development initiative from the federal government was started in 2015, and by 2022 it will have built 2 Cr permanent homes in both urban and rural locations. By March 2017, the project’s first phase had already concluded, and the second had begun. Two parts make up the entire thing.

PMAY Urban 

The houses will be built under PMAY-Urban in urban areas. In order to provide pucca or permanent homes to the slum dwellers and other persons from the LIG, EWS, and MIG categories, the congested slum areas will primarily be cleared.

PMAY Gramin

People from rural areas will receive their pucca houses under the PMAY-Gramin scheme. You may apply for this scheme if you rent a house or own a house that needs reconstruction.

The main goal of this Yojana, which was introduced in June 2015, is to assure that 2 crore homes are constructed throughout the entire country. The project is anticipated to be completed in 2022, which means that 2 crore homes will be built over a period of seven years.

Pradhan Mantri Awas Yojana’s Quick Highlights

Eligibility Requirements For The Pradhan Mantri Awas Yojana Loan Scheme

A permanent home should not be owned.

The candidates’ inability to have permanent residence in any region of the nation, or that of any member of their family, is a crucial qualification.

For the EWS group –

EWS, or Economically Weaker Sections, refers to applicants with annual incomes under Rs. 3 lakh. Anyone can apply for a house under this scheme as long as they have the necessary documentation.

For the LIG group –

An interested applicant who wants to profit from this housing scheme and has annual earnings that are between 3 lakh and 6 lakh rupees will be regarded as a member of the lower-income group.

For the MIG 1 group –

Any candidate classified as belonging to Medium Income Group 1 has an annual income of at least 12 lakh rupees. If the applicants meet all other criteria, they will be qualified to apply for a new residence.

For the MIG 2 groups:

Individuals classified as belonging to the Medium Income Group 2 group are those with annual salaries of Rs. 18 lakhs or less. These people will be able to apply for the PMAY scheme as well.

The carpet area of the homes –

The quantity of carpet in applicants’ homes will vary. Depending on the category these applicants fall into, it will differ. Candidates for the EWS and LIG sectors will therefore receive shelters with carpet areas of 30 and 60 square metres, respectively. According to the latest draught, applicants from MIG 1 will be qualified for residences with 120 sqm of carpet space, while applicants from MIG 2 will receive 150 smq.

To apply for and receive credit from financial institutions, all interested individuals must meet extra requirements in addition to the core requirements. The Awas Yojana will be credited to applicants.

Loan and Income Requirements for PMAY-U

For attaining a credit of 6 lakhs –

If an applicant wants to receive a credit of Rs. 6 lakhs, they must submit a loan application using only their maximum yearly income of Rs. 6 lakhs. These candidates will receive a 6.5% subsidy with 20 years to return the credit.

For attaining a credit of 9 lakhs –

A person’s annual salary must be at least Rs. 12 lakhs in order to qualify for a loan of Rs. 9 lakhs. All candidates who fit into this category, according to the official drafts, will be required to pay interest that is 4% less than what is typically charged for loan schemes. They have 20 years to complete the credit repayment.

For attaining a credit of 12 lakhs –

Candidates must receive a salary of Rs. 18 lakhs per year in order to qualify for a credit line of Rs. 12 lakhs. Individuals who qualify under this category will receive a 3% interest rate subsidy. The entire loan balance must be repaid by each creditor within 20 years.

Pradhan Mantri Awas Yojana Phases

Three phases produce Pradhan Mantri Awas Yojana’s blueprint. Alternatively said, the plan is intended to be completed in 3 parts, which are as follows:

Phase I

Phase II

Phase III

Steps for Applying

Under the PMAY scheme, there are three application methods. For the rural and urban areas, they are available offline, online, and through CSCs.

Pradhan Mantri Awas Yojana Urban [PMAY (U)] Subsidy Application

Offline:

The urban local bodies conduct a demand survey in the event of offline registration. The purpose of this survey is to compile a list of individuals who fall into the LIG category (annual income not exceeding Rs. 6 Lac) and the EWS category (Annual Income not more than Rs. 3 Lac). Once the survey is complete, the verification procedure will begin, and registration will follow suit.

Online:

If the application is to be submitted online, the applicant may register for free at the official website of the Pradhan Mantri Awas Yojana Ministry. The website can be accessed at http://pmaymis.gov.in/. The website’s sign-up or registration form can be found by clicking the link. Fill it out with the necessary details about the loan and the applicant’s identity. Once the form has been correctly filled out, submit it online.

CSCs:

Common Service Centers (CSCs) are being created all around the country. For registration under the PMAY (U) scheme, applicants must submit all of their supporting documentation to these CSCs along with a minimum registration fee of Rs. 25 plus service fees.

To apply for PMAY (G), Pradhan Mantri Awas Yojana, Apply here.

Offline:

The Gramin Sabha will be in charge of the PMAY (G) demand survey. In order to create a list of the targeted population, the authorities will conduct a survey in which LIG and EWS classes will be identified. The PMAY local authorities should receive this list for use in the registration process.

Online:

The PMAY (Online)’s registration method is identical to that of the PMAY (U). Through the official ministry website, the applicant can register for PMAY for free.

CSCs:

As previously noted, CSCs are being established all around the world to handle registration. The applicant must pay the CSCs officials Rs. 25 as a service fee and registration fee in order for them to process the registration.

Note: To qualify for PMAYG benefits, you must appear on the Secc 2011 list.

Documents needed to apply for a PMAY

• Aadhaar card registration is one of the requirements for registering a scheme. In the improbable chance that the applicant does not already own an Aadhaar card, CSCs will assist the applicant in obtaining a card through proper registration.
• The BPL certificates are another document that must be provided. In addition to providing confirmation of identity and address, people who live in rural or urban regions and who are members of the EWS or LIG categories must also show income certificates.

Application forms of PMAY (U) and PMAY (G)

The application form is only accessible online. If the application is being completed online, the applicant must download the form, fill it out completely, and then submit it online. These forms are available from the centres for people registering through CSCs. In exchange for Rs. 25/-, the authorities retrieve the printed forms and give them to the applicant together with an acknowledgment slip. The application must be correctly filled out and submitted in CSCs by the applicant.

The mandatory fields on the form include name, contact information, gender, date of birth, category, annual income, Aadhaar number, information from a BPL certificate, and others. Additionally, the applicant must specify whether the loan is for the building of a new home or the renovation of an existing one.

Check your application’s status:

Check to see if your loan application was approved or denied after registering. The following URL must be clicked: http://pmaymis.gov.in/Search Name. Click to verify or track the status of your application. You must type your name’s initial three letters into the small, empty text box on this page. The names of many candidates will be displayed when you submit it. Your name will be listed, and you can access information about the status of your application by finding it there.

Who is Pradhan Mantri Awas Yojana’s target group?

PMAY was established to help those without their own homes and those with lower incomes. The persons who are covered by EWS and LIG are the scheme’s primary target demographics. Additionally, those who are in poverty are eligible to participate in this scheme.

The national government has announced that the PMAY scheme will also be open to the MIGs with middle-income levels. The loan amount has also been raised from 6 Lac to 12 Lac.

Last Date to apply for the PMAY Loan:

The scheme, the second phase began in April 2017. The authority has stated that March 2019 is the deadline for applications as of right now.

What are Pradhan Mantri Awas Yojana’s main features?

• All eligible people of the urban and rural populations will get a stipend. The central government’s treasury would provide the subsidy, which may be worth between INR 1 lakh and INR 2.30 lakh. People in the target demographic will be able to afford a home under the scheme thanks to this subsidy.
• Additionally, the government would provide a rebate for loan interest rates taken out for the Yojana. The beneficiaries will receive a 6.5% interest rate subsidy on the loans they take out. 15 years from the day the loan is disbursed to the borrower, this interest subsidy will be in effect.
• In this system, female members would be given preference when it comes to house allocation. Simply put, female beneficiaries’ petitions will be more readily accepted than male beneficiaries’ applications. As a result, the plan is in favor of women.
• The government will give older persons or those with disabilities priority when renting ground-floor housing.
• The housing enclaves built under the plan must rigorously adhere to eco-friendly construction techniques, as mandated by the government.

Drastic EMI reduction under the Pradhan Mantri Awas Yojana

The PMAY guarantees a 6.5% subsidized interest rate on housing loans made under the scheme. The market rate for interest on mortgage loans right now is 10.5%. This means that those who want to apply for house loans through the scheme will pay an interest rate that is 4% less than the going rate. This obliquely suggests that the monthly EMI that must be paid will be drastically reduced.

Let’s use a concrete example to illustrate how big of a reduction in EMI payments might be anticipated under the PMAY.

Let’s imagine that someone takes out a loan for INR 6,00,000 with a 15-year repayment period at standard market rates (10.50%). As a result, the EMI payment he or she must make each month will be INR 6,632. If the borrower chooses to take out the same loan under the housing scheme, the interest rate that will apply is 6.5%. A monthly EMI of INR 4,050 will lead from this. This indicates that, in comparison to what he or she would typically pay under normal or market interest rates, the individual must pay considerably over INR 2000 less under the scheme. This huge decrease in EMI makes buying a home much more affordable for LIG and EWS persons in the country’s urban areas.

Pradhan Mantri Awas Yojana’s Credit-Linked Subsidy Scheme

The credit-linked subsidy scheme is one of the main characteristics of the Pradhan Mantri Awas Yojana. Two crucial components of this housing scheme, which we have already highlighted, are as follows:

a 15-year maximum loan from the government for up to 600,000 INR.

6.5% is the subsidized interest rate.

Now, these two elements don’t differ from one another. In actuality, the two are mutually dependent and cannot coexist on their own.

To clarify more…

The Pradhan Mantri Awas Yojana home loan application is the only time the 6.5% interest rate would be applicable. This is subject to certain rules. The guidelines are as follows:

1. If the subsidized interest rate is to be utilized, the maximum loan amount is 600,000 rupees.
2. Any sum over INR 600,000 that remains after repayment of the loan will be subject to standard market interest rates. As a result, if a person asks for a loan for INR 700,000, the additional INR 100,000 will be subject to the usual market interest rate (for residential loans).
3. This loan can only be obtained by those who fall under the EWS or LIG categories.
4. A maximum of 15 years will be allowed for the subsidized rate of interest to be used. This means that if someone takes out a loan for, let’s say, 20 years, they will pay 6.5% interest for the first 15 years before the interest rate increases to the market rate for home loans. The subsidized rate will be used if the loan’s term is less than 15 years since it won’t be more than 15 years in any case.
5. It is not required to use the loans to buy a new home built under the Pradhan Mantri Awas Yojana, although it is possible. This means that a person who falls into the LIG or EWS category is still eligible to apply for a loan under this scheme even if they already own a home that needs to be extended or renovated, or if they prefer to build a new house from scratch rather than opt for one of the many new apartments available that were built as part of the government scheme.
6. If a loan is acceptable to extend or renovate a new home, the carpet area of the home must be at least 30 square meters for those in the EWS group and 60 square meters for those in the LIG category. Loans under this scheme cannot be obtained if this stipulation is not satisfied.

Government-chosen cities for the Pradhan Mantri Awas Yojana

The list of cities in all states and union territories where housing units would be built under the Pradhan Mantri Awas Yojana has been created by the government. The full list is shown below:

The following Union territories will be included in this scheme:

• Islands of Andaman and Nicobar
• Chandigarh
• The Dadra and Nagar Haveli
• Diu and Daman
• Lakshadweep
• Delhi, the National Capital Territory
• Puducherry (formerly Pondicherry) (previously Pondicherry)

How to calculate the subsidy, interest rate, and EMI:

This government scheme will result in a significant reduction in the equated monthly instalment that must be paid on the housing loan. At a current interest rate of 10.5 percent, the lending facility for this housing scheme is accessible. According to the calculations, the approximate monthly instalment for these kinds of loans in the amount of six lakh rupees for a lengthy term of fifteen years is around 6,632 rupees.

The newly announced equalized monthly amount, according to the PMAY, will be 4,500 rupees due to the 6.5 percent subsidy. Therefore, the candidates will benefit from saving a minimum of $2,000 when making Equated monthly instalment payments. The central grant, which is in the neighborhood of one lakh rupees, will go to the recipients. The credit-related subsidy system will be used to provide a 6.50 percent subsidy to those who fall under the LIG and EWS categories.

Update

Latest News Update (Jan 2018)

The government lowers the GST to 8% on affordable housing from 12%. For those buying their first homes

The government has stated that it will reduce the GST rates from 12 percent to 8 percent. Homebuyers who purchase inexpensive homes through the PMAY (Pradhan Mantri Awas Yojana)—CLSS scheme is subject to the revised rates. The bonus for first-time homebuyers with annual incomes of up to Rs. 18 lakhs has been extended by the government. In addition, homebuyers who invest in low-cost housing projects with a maximum carpet size of 646 sq. ft. would also receive the GST benefit.

Update 23 Feb 2018

Urban Housing Scheme: Additional Budgetary Support of Rs. 60,000 Crore under PMAY

The Union Cabinet has resolved to invest an aggregate budget of Rs 60,000 crore under the PMAY-Urban plan as part of the most recent central government measures. The government has also declared that by the end of the fiscal year 2022, more than 1.2 crore new affordable homes will be built.

Additionally, according to the government, the extra monies will be used for BMTCP (Building Materials and Technology Promotion Council) projects under the MoHUA (Ministry of Housing and Urban Affairs). The government intends to use better and more modern technology to build inexpensive homes under the new implementation.

According to the government, more funding will help achieve the project’s deadline of completion in the following four years. The administration has also said that the national government will disburse cash for the project’s completion in stages, with Rs 1.7 crore to be released in the first step.

In addition, the government would provide a rebate on interest on the loan through the Pradhan Mantri Home Loan scheme in order to make homes more accessible to the populace.

29/04/2018

GSA has released the Mawas app for GPRA to check the status of applications.

25/05/2018

PM Modi has approved an additional 200 crore for this scheme.

11/06/2018

RBI Increases Credit Limit for Pradhan Mantri Awas Yojana Home Purchases

RBI has ruled that EWS members will now be eligible for greater credit when buying inexpensive permanent dwellings. Pradhan Mantri Awas Yojana will become more profitable as a result of this choice. However, it will only be accessed through private-sector lending. Therefore, if an EWS candidate chooses this scheme, the banks will grant them a credit line for an additional amount of 35 lakhs. The house must, however, be located in a metro area with a population of at least ten lakh people. Only after the RBI released their new repo and reverse repo rates did this choice get made. These are now 6.25 and 6 percent, respectively. However, people will have access to more money for property purchases.

14/07/2018

Only Mhada will get affordable housing in Maharashtra, the state government has declared.

23/08/2018

Pradhan Mantri Awas Yojana’s home lock-in process

According to the Pradhan Mantri Awas Yojana, the central government has taken the initiative to provide home loan subsidies. The lock mechanism prevents home buyers from selling their property before five years, in accordance with the regulations established by the authorities. This would guarantee that anyone in need of housing could have it. This current mechanism was put in place to stop the abuse of housing purchase subsidies. Up to this point, 54 lakh dwellings have received approval. The scheme’s principal objective is to offer affordable housing to as many homeless persons as possible.