Pradhan Mantri Awas Yojana (PMAY) – Housing for All by 2022 Scheme

The Pradhan Mantri Awas Yojana(PMAY) has been the talk of the town since it was introduced by Prime Minister, Narendra Modi on 1 June 2015. PMAY Scheme is an initiative provided by the Government of India which aims at providing affordable housing to the urban poor. The mission of this initiative is to provide housing for all by the year 2022.

Pradhan Mantri Awas Yojana (PMAY)

Under this scheme, affordable houses will be built in selected cities and towns using eco-friendly construction methods for the benefit of the urban poor population in India. Also, under the Credit Linked Subsidy Scheme, beneficiaries under PM Awas Yojana are eligible for interest subsidy if they avail a loan to purchase or construct a house.

Features of Pradhan Mantri Awas Yojana

  • Under PMAY Scheme, subsidy interest rate is provided at 6.5% on housing loan for the term of 15 years to all the beneficiaries.
  • Differently abled and senior citizens will be given preference in allocation of ground floors.
  • Sustainable and eco-friendly technologies would be used for construction.
  • The scheme covers entire urban areas in the country which includes 4041 statutory towns with the first priority given to 500 Class I cities. This will be done in 3 phases.
  • The credit linked subsidy aspect of the PM Awas Yojana gets implemented in India in all statutory towns from the initial stages itself.

Current Updates on Pradhan Mantri Awas Yojana

PMAY may get a 50 percent raise in the Upcoming Budget

The government’s housing for all initiative, known as Pradhan Mantri Awas Yojana (PMAY), is quite likely to get a 50 percent raise in the upcoming budget allocation this year. This surge is driven by the government’s plan to build more than two crore houses in urban and rural areas.

The PMAY scheme is divided into two components – rural and urban. In the first case, the government plans to construct one crore new housing units by the end of March 2019 and of these, 51 lakh houses need to be built by March 2018. The government has set a similar target for PMAY Urban as well.

Considering that the housing scheme is moving at a slow pace, allocating additional funds is likely help it accomplish its goals. In the previous budget, Rs. 23,000 crore was allocated for the PMAY Rural while Rs. 6,042 crore was allocated for its urban counterpart.

To achieve its target of constructing 51 lakh houses in rural India, the Ministry of Rural Development is working together with the government of different states. Month-wise targets have been set up to complete the construction of the houses and so far, the government appears to be on track.

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Eligibility Criteria for PMAY Scheme

The government will use the The Socio Economic and Caste Census of 2011 (SECC 2011) to identify and select the list of PMAY beneficiaries. The village panchayats along with tehsils will be considered for consultation of beneficiaries before making the list under the rural housing scheme. This is going to be done in order to ensure transparency of the project and also make sure that only the deserving receive the aid in housing.

  • Any household with total annual income between Rs.6 lakh to Rs18 lakh can apply for the PM Awas Yojana. The applicant is allowed to include the income of the spouse while applying for this scheme.
  • Indian citizens who are women may apply. No other demographic will be considered as long as they are women.
  • The beneficiary can only buy a new house in order to enjoy Pradhan Mantri Awas Yojana benefits. People who already own a house are not eligible to apply for this scheme. No pucca should be owned by the beneficiary or member of the family, in any part of the country.
  • People will be allowed to buy/construct new houses only. One cannot avail PMAY benefits on already built house.
  • People who belong to the low income group i.e. LIG and economically weaker sections also known as EWG in the society, may also apply.
  • Scheduled tribes and castes will also be eligible.
  • Senior citizens and differently abled will be given special priorities for ground floor housing.

PM Awas Yojana Scheme

How to Apply for the PM Awas Yojana Online

  • Visit the PM Awas Yojana official website
  • Under the “Menu” section, find the “Citizen Assessment” option
  • Enter your 12-digit Aadhaar card number
  • Once you have entered your Aadhar information, you will be redirected to the application page
  • You will be asked to enter your personal details, income details, current residential address, and your bank account details
  • Enter all information in the application
  • Click on “I am aware of” option at the end of the page and click the “Save” button
  • Once you click the “save” option, you will see a system generated application number which you can save for future reference
  • Download and print the duly-filed application
  • Submit the form at your nearest CSC office centres and financial institution/banks along with the required documents

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