Know How To Apply For Pradhan Mantri Awas Yojana

The Pradhan Mantri Awas Yojana is a great initiative undertaken by the Indian Government with an aim to provide “housing for all”. The primary objective of the Pradhan Mantri Awas Yojana scheme is to provide affordable housing for all sections of society belonging to urban and rural India. Accordingly, this programme targets to construct 20 million concrete houses by the end of 2022. This scheme is segregated into Pradhan Mantri Awas Yojana- Gramin (PMAY-G) and Pradhan Mantri Awas Yojana- Urban (PMAY-U).

To know how to apply for PMAY, eligible candidates can follow both online and offline modes. Here’s how –

• Online mode

Here’s how you can apply for Pradhan Mantri Awas Yojana scheme-

1. Visit the PMAY official website and select the “Citizen Assessment” option
2. Click on the “Benefits Under Other Three Components.”
3. Now, applicants need to enter their Aadhaar details to access their PMAY application number
4. Enter the necessary details in the PMAY application form, click on save option.
5. Applicants will receive an auto-generated application number which is required for future reference.

Besides, the willing applicants can also choose an offline method to apply for this scheme. 

• Offline mode

Follow the steps to apply offline: 

1. Visit the nearest financial institution or Common Service Centre.
2. Fill up the application form with the necessary details. 
3. Submit the necessary documents.
4. Pay a nominal charge of Rs.25 plus GST.

If they want to check their PMAY status, they need to visit the official website of PMAY and select on “Track your Assessment Status” option. However, borrowers must go through the PMAY eligibility criteria before applying. 

PMAY eligibility criteria

Applicants will be eligible under this scheme when they meet all the following conditions.

• The eligible beneficiary or their family should not own a pucca house in any part of India.
• Applicants should not have availed of any government-backed housing scheme.
• As per Census 2011, all statutory towns would be eligible for financial assistance under this programme.
• If the beneficiary is married, both single or joint ownership will be allowed. However, they will qualify for a single subsidy only.

Besides meeting the eligibility, the applicants also need to furnish the following documents-

• KYC documents- Aadhar card, Voter ID, PAN card etc.
• Current bank statement
• Income certificate
• Property papers 
• PMAY application form with necessary details

However, the documents may differ from one lender to another. Apart from these, borrowers must also know if their name is on the PMAY list. Only then they will be eligible to reap the benefits of this scheme. 

However, beneficiaries should know the components they are eligible to apply for.  

Essential components of PMAY

The Pradhan Mantri Awas Yojana scheme includes Economically Weaker Sections (EWS), Lower-income groups (LIG) and Middle-income groups (MIG I-II). This initiative comprises the following key components:

• Credit linked subsidy scheme

Under PMAY subsidy scheme, individuals will be provided with a subsidised interest rate for the construction, purchase or renovation of existing housing. The government offers credit-linked subsidies based on your income. 

However, individuals need to opt for a home loan under this scheme from any reputed financiers only. Selected housing finance companies also provide pre-approved offers on a host of financial products that save time during loan applications and simplify it. Such offers are available on home loans, loans against property, etc. 

• In-situ slum development

The Pradhan Mantri Awas Yojana scheme also aims to eradicate slums in urban areas and rehabilitate the slum dwellers to better settlement. With the help of this In-situ rehabilitation programme, the government tries to recover the lands that are losing value under slums. 

• Affordable housing in partnership

This scheme encourages private and public organisations to develop an affordable housing project collaboratively  for financially weaker sections. 

• Enhancement and construction of beneficiary led house

Those not eligible for the 3 schemes mentioned above can avail central assistance of Rs.1.5 lakh for home construction or renovation under this scheme. 

Thus, Pradhan Mantri Awas Yojana scheme is an outstanding initiative by the Indian Government to meet the shortage of proper housing for financially backward individuals. However, it is also important to know how to apply for this scheme.