The Pradhan Mantri Awas Yojana (PMAY) is a Government initiative to provide subsidized housing for low-income Indians with the goal of building 20 million homes by 2022. This article is aimed at listing the Pradhan Mantri Awas Yojana online form process and simple steps to fill the form online.

The scheme primarily targets people from Economically Weaker Section, Middle Income Group -1 (MIG -1), Low-income Group (LIG), and Middle Income Group-2 (MIG-2). Public availing this scheme can take advantage of interest subsidy on the construction or purchase of a house. Furthermore, the benefit of the PMAY online form is that, it is by far the easiest way to apply for the Pradhan Mantri Awas Yojana. Moreover, there is a convenient option to fill the form and then check the status of the application throughout its review process.

How to apply Pradhan Mantri Awas Yojana Online Fstyleorm

  1. Go to the official website of Pradhan Mantri Awas Yojana 
  2. In the main banner of the website, find the Citizen Assessment tab and scroll over it
  3. Click on the relevant tab of For Slum dwellers or Benefit under other 3 components
  4. Once you are redirected to a new page, enter your Aadhaar Number and click on Check button.
  5. State Name (the state you currently residing in) (mandatory)
  6. District Name (Mandatory)
  7. City Name (Mandatory)
  8. Preferred Component of Mission (This section is not mandatory. It is up to you if you want to fill it or leave it blank)
    • Credit Linked Subsidy
    • Affordable Housing Partnership
    • Beneficiary Led Construction or Enhancement
  9. In addition, you must fill details related to your name, family head’s name, your residing and permanent addresses, and ownership details of your current residence.
  10. Also, you will have to fill details regarding your bank, and the city it is located in, along with your employment status.
  11. Once you fill all the details, click the checkbox. Upon clicking the checkbox, enter the captcha code. You can change the captcha code if you are not sure about the current one. Please click on the refresh button, beside the captcha code to get a new one.
  12. Complete the application and click Save. Once saved, you can print the application for your own needs.

How to Check Pradhan Mantri Awas Yojana Online Application Form Status

  1. Go to the official website of Pradhan Mantri Awas Yojana
  2. Scroll over Citizen Assesment and click on Track Your Assessment Status
  3. On the next page, you can choose the way you want to check PMAY loan status. Select one of ‘By name, Father Name, ID Type’ or “By Assessment ID’ and click submit.
  4. The website will display your application status.

When are you Eligible for Pradhan Mantri Awas Yojana (PMAY)?

You are eligible to avail the benefits of Pradhan Mantri Awas Yojana if you follow the criteria listed below. You must belong to either of the categories mentioned below.

Category Annual Household Income
Economically Weaker Section (EWS) <Rs. 3,00,000 (below three Lakh)
Low Income Group (LIG) Rs. 3,00,000 – Rs. 6,00,000 (Three lakh – Six lakh)
Middle Income Group -1 (MIG-1) <Rs. 12,00,000 (below Twelve lakh)
Middle Income Group -2 (MIG-2) Rs.12,00,000 – Rs.18,00,000 (twelve lakh – 18 lakh)

 

  • Also, your current age while applying for PMAY must not exceed 70 years.
  • The eligibility criteria and coverage are different for various categories. The eligibility criteria and coverage scheme for each category (i.e. EWS, LIG, and MIG) are listed below.

Economically Weaker Section (EWS)/ Low Income Group (LIG) Eligibility and Coverage:

  • The ownership of the house should be either solely in the name of the female member of the household, or the loan can be taken under joint ownership with the wife. However, you (the beneficiary) can be exempted from this rule in cases of construction of the house on a  pre-existing plot, or renovation/extension of currently existing Semi-pucca/Kuccha house.
  • In addition, you (the beneficiary family applying for the loan), must not own a pucca house under your name anywhere in India prior to taking the loan.
  • Also, the carpet area of the house being built under the PMAY scheme should be up to 30 Sq. mts. for EWS beneficiaries and upstyle to 60 Sq.mts for LIG beneficiaries.
  • Moreover, you can avail credit linked subsidy which is available for housing loans availed for construction of house and repair/acquisition/Semi Pucca House/Extension of Kucha.
  • However, the maximum term of the loan on which the subsidy will be calculated is 20 years.
  • Also, you are eligible for a maximum subsidy of Rs.2.67 lakh(approximate).

Middle Income Group (MIG -1 and MIG -2): Coverage and Eligibility

 Eligibility:

  • You(the beneficiary) must be a family comprising of husband, wife and unmarried children. However, you can also avail the loan independently even if you are unmarried.
  • In case you are married, either one of the spouses, i.e. either the husband or the wife is eligible for the loan. In addition, you can both (husband and wife) avail a loan through a joint ownership subject to the salary eligibility of the household defined under the scheme.
  • Furthermore, you (the beneficiary family applying for the loan), must not own a pucca house under your name anywhere in India prior to taking the loan.
  • Also, the carpet area of the house being built under the PMAY scheme should be upto 120 Sq. mts. for MIG-1 beneficiaries and upto 150 Sq.mts for MIG – 2 beneficiaries.
  • Moreover, you take a home loan under the scheme and avail interest subvention benefit under the PMAY scheme, but later switch to another bank, you will not be

Coverage and Scope:

  • Beneficiaries from the MIG-1 category are eligible for a loan amount of upto Rs.9,00,000 with credit linked subsidy at 4%.
  •  However, the beneficiaries from the MIG-2 category are eligible for a loan amount of upto Rs.12,00,000 with credit linked subsidy at 4%.
  • Furthermore, under the credit linked subsidiary scheme, you (a MIG beneficiary) can avail an interest subsidy available for actual tenor loan or a tenor of 20 years, depending on which is lower. Moreover, the bank can sanction loan for a maximum tenor of 30 years, but you have to make sure that the loan is repaid before you attain 70 years.
  • The Net Present Value (NPV) will be calculated at a discount rate of 9% and will be credited to the loan account.
  • In addition, you are eligible for a maximum subsidy of Rs.2.35 lakh(approx.) and Rs.2.30 lakh(approx.) for MIG-1 and MIG-2 respectively.

Net Present Value (NPV):

Net Present Value is the difference between the present value of cash inflows and the present value of cash-flows over a period of time. It is the difference between the amount of money you earn and the money you spend.

For a more simple understanding, please refer to the below table

2.67 lakhs up to Rs. 2.35 lakhs till Rs. 2.30 lakhs

Criteria Instructions (CLSS –EWS +LIG) CLSS (MIG-1) CLSS (MIG-2)
Max Loan Amount for Subsidy Upto 6 lakhs Till 9 lakhs Till 12 lakhs
Subsidy % 6.50% 4% 3%
Subsidy Amount Till Rs. 2.67 lakhs upto Rs. 2.35 lakhs Till Rs. 2.30 lakhs
NPV 9% (nine)9% 9%
Maximum tenure of loan 20 yrs Till 20 yrs Till 20 yrs
Applicability Loans approved on/after 01/01/2017 Approved on/after 01/01/2017 Loans approved on/after 01/01/2017

Required Documents for PMAY Online Application Form

Aadhar (How to download Aadhar Card) Number and details are mandatory. One can’t even start their application without a valid Aadhaar Number. Moreover, you need to have an Identity Proof, Minority and Caste certificate, Income Proof, and House Valuation certificate along with Aadhar. In addition, you need to have Bank account statements, Documents to prove house construction/proof of no house.

Also, There is no need for you to carry all the documents listed below. It is enough if you have at least, i.e. a minimum of one proof from each category.

Identity Proof:

Minority and Caste Certificate

If you belong to a minority community, you can use a Minority certificate or SC/ST/OBC certificate to prove your status.

Income Proof

  • An IT Returns document should suffice to prove income requirements. If your current income is below taxable limits, then you can provide a certificate to prove your Low Income or that you are from the Economically Weaker Sections.
  • Also, in case you are a working employee, your salary statement should be provided as an addendum.

House Valuation Certificate and Bank Account Statement:

You must submit the house valuation documents approved by a registered authority. Also, you must submit the statements of all banks with which you are currently banking.

Document to prove house construction and Documents to prove lack of residency:

You must submit documents which include construction approvals and cost certificate to prove that you plan to use the funds to construct a house. In addition, you need to submit documents given through court affidavits to prove that you or your family members do not currently own a home.

Note:-

Please note that the PMAY can only be taken advantage of by those who belong to lower income groups and economically weak sections. Also, the loan could be canceled if the applicant uses misleading information to misrepresent income and other application details.

Sourcehttps://homeloans.sbi/pmay

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