Pradhan Mantri Awas Yojana | Pm Awas Yojana 2023:24

In the latest update made by Finance Minister in the Union Budget 2023-24, Pradhan Mantri Awas Yojana received a major boost in fund assistance to 66%. This translates to the scheme receiving INR 79,000 Crores. Additionally, as per officials, Pradhan Mantri Awas Yojana, which was initially aimed at providing housing for all eligible individuals belonging to economically weaker sections of society by 2022, has now been extended to December 31, 2024. As a part of the mission, it is expected that the scheme is set to receive a boost in the upcoming union budget as well.

Best Banks For Home loan Under The PMAY Scheme

The table below showcases the banks offering home loans under the PMAY Scheme.

The steps below can be followed to take a home loan online under the PMAY scheme.

• Visit the official website of PMAY (Pradhan Mantri Awas Yojana)

• Click on the “Citizen Assessment” tab and select “Apply Online”

• Fill in the required details such as personal information, income details, and property details

• Upload the required documents such as identity proof, income proof, and property documents.
• Apply and track the status online.

The steps below can be followed to take a home loan offline under the PMAY scheme.

• Visit the nearest bank or housing finance company offering loans under PMAY
• Collect the application form and fill in the required details
• Submit the form along with the required documents such as identity proof, income proof, and property documents.
• The bank or housing finance company will process the application and inform you of the loan approval status.

How to check PMAY application status?

You can check the PMAY Application Status by following the steps listed below.

• Visit the official PMAY (Pradhan Mantri Awas Yojana) website (pmaymis.gov.in).

• Click on the “Citizen Assessment” tab on the homepage.

• Select the appropriate option – “New Beneficiary” or “Existing Beneficiary” depending on your status.
• Enter your details such as your name, father’s name, and mobile number.

                                                                   or

• Click on the “Search” button to check your application status.
• Your application status will be displayed on the screen. It will show whether your application is “Approved”, “Rejected for more information”, or “Rejected”.
• If your application is approved, you will also be able to see the details of the subsidy and other benefits you are eligible for.
• You can also download the application form and take a printout for your records.

Note: You can also check your PMAY application status by visiting the official website of the Ministry of Housing and Urban Affairs (mhupa.gov.in) and following the same steps as above.

Types of PMAY Schemes in 2023

There are a few types of PMAY Schemes which are listed below.

• Pradhan Mantri Awas Yojana (PMAY) Urban: This scheme aims to provide affordable housing for urban dwellers, particularly for the economically weaker sections and low-income groups.
• Pradhan Mantri Awas Yojana (PMAY) Rural: This scheme aims to provide affordable housing for rural dwellers, particularly the economically weaker and low-income sections.
• PMAY-Gramin: Aims to assist rural households in constructing pucca houses in rural areas.
• PMAY-Credit Linked Subsidy Scheme (CLSS): Aims to provide credit-linked subsidies on home loans to economically weaker sections and low-income groups.
• PMAY-Beneficiary Led Construction (BLC): This scheme aims to assist beneficiaries in constructing their own houses in rural areas.
• PMAY-Urban- Affordable Housing in Partnership (AHP): Aims to assist in the construction of affordable houses through public-private partnerships.
• PMAY-Urban-In-Situ Redevelopment (ISR): Aims to assist in the redevelopment of slums and in-site rehabilitation of slum dwellers.
• PMAY-Urban-Economically Weaker Sections (EWS): This scheme aims to assist in the construction of houses for economically weaker sections in urban areas.
• PMAY-Urban-Low Income Group (LIG): Aims to assist in the construction of houses for low-income groups in urban areas.
• PMAY-Urban-Middle Income Group (MIG): This scheme aims to assist in the construction of houses for middle-income groups in urban areas.

Features and Benefits of the PMAY Scheme 2023

The Pradhan Mantri Awas Yojana (PMAY) is a government scheme launched in 2015 to provide affordable housing to India’s urban and rural poor. The scheme has several features and benefits, including.

• Affordable housing: PMAY aims to provide affordable housing to low-income groups and economically weaker sections of society. The scheme provides financial assistance to eligible beneficiaries to construct or upgrade their homes.
• Credit-linked subsidy: PMAY provides a credit-linked subsidy on home loans taken by eligible beneficiaries. This helps reduce the interest burden on the loan and makes it more affordable for the beneficiaries.
• Inclusion of women and disadvantaged groups: PMAY ensures that women and disadvantaged groups such as Scheduled Castes, Scheduled Tribes, and Other Backward Classes are included in the scheme and provided housing assistance.
• Slum rehabilitation: PMAY aims to provide housing for slum dwellers by rehabilitating them in newly constructed buildings. This helps improve the living conditions of slum dwellers and provides them with safe and secure housing.
• Developing smart cities: PMAY also aims to develop smart cities by providing affordable housing in urban areas. This helps improve the quality of life for urban residents and promotes sustainable development.
• Transparent allocation of resources: PMAY uses a transparent and objective process to allocate resources to beneficiaries, ensuring that the scheme reaches the most deserving and eligible people.
• Online tracking of progress: PMAY provides an online tracking system for beneficiaries to check the progress of their housing application, ensuring transparency and accountability.
• Partnership with the private sector: PMAY also partners with the private sector to promote affordable housing, creating opportunities for investment and job creation.

Beneficiaries Under PMAY 2023

The beneficiaries of the PMAY scheme are listed below.

1. Economically weaker sections (EWS)
2. Low-income group (LIG)
3. Middle-income group (MIG)
4. Scheduled castes (SC)
5. Scheduled tribes (ST)
6. Other backward classes (OBC)
7. Women
8. Transgender
9. Physically challenged individuals
10. Ex-servicemen and war widows.

PMAY Interest Subsidy

PMAY (Pradhan Mantri Awas Yojana) Interest Subsidy is a scheme launched by the Government of India to provide financial assistance to low and middle-income families to purchase or construct a house. Under this scheme, the government provides an interest subsidy on home loans taken by eligible beneficiaries. The interest subsidy is provided to eligible beneficiaries for 20 years or the loan tenure, whichever is lower. The scheme aims to provide affordable housing to all citizens and reduce the gap between the rich and the poor.

Eligibility Criteria in 2023

The table below pertains to the eligibility criteria for the PMAY Home Loan Scheme.

Documents Required in 2023

When applying for a PMAY Home Loan scheme, you will be required to provide the following documents for authentication of identity, residence, and other particulars such as birth proof, declaration, and so on.

• Proof of identity (Aadhar card, PAN card, voter ID card)
• Proof of residence (Aadhar card, voter ID card, utility bill)
• Income certificate
• BPL card (if applicable)
• Caste certificate (if applicable)
• Disability certificate (if applicable)
• Land/property ownership documents
• Construction plan and estimate
• NOC from local authorities (if required)
• Bank account details and passbook
• GST registration (if applicable)
• PAN card of the construction company (if applicable)
• Previous housing loan details (if applicable)
• Building completion certificate (if the property is already constructed)
• No Objection Certificate (NOC) from the local urban development authority (if required)
• Self-declaration of not owning a pucca house in the name of any member of the household (if applicable)
• House registration papers and property tax receipts (if applicable)
• Legal documents of land ownership or lease
• Sanction letter or sanction plan from the local development authority or housing board (if applicable)
• Affidavit for the same.

PMAY Calculation Process

PMAY (Pradhan Mantri Awas Yojana) calculation is done to determine the eligibility and subsidy amount for the housing scheme. The analysis is based on the following factors:

• Income: The applicant’s annual income is considered to determine eligibility for the scheme. The scheme has different income categories, such as the Economically Weaker Section (EWS), Lower Income Group (LIG), and Middle Income Group (MIG).
• Location: The location of the proposed house is considered to determine the subsidy amount. The subsidy amount is higher for rural areas as compared to urban areas.
• Type of House: The type of house, whether it is a new construction or an extension of an existing house, is considered to determine the subsidy amount.
• Carpet Area: The carpet area of the proposed house is considered to determine the subsidy amount. The subsidy amount is higher for smaller houses as compared to larger houses.
• Interest Subsidy: The interest subsidy is calculated based on the loan amount and the interest rate. The subsidy amount is higher for lower-income groups than higher income groups.

The exact calculation of the PMAY subsidy amount can vary based on the scheme and the state in which it is being implemented. It is best to consult with a local housing authority or financial institution for more information.

Main Components of The PMAY in 2023

The following are the main components of the PMAY scheme. These schemes are designed to cater to an array of economically-weaker sections of society. The particulars are as listed below.

• Pradhan Mantri Awas Yojana-Gramin (PMAY-G): This component focuses on providing affordable housing to the rural population. It aims to construct two crore houses in rural areas by 2022.
• Pradhan Mantri Awas Yojana-Urban (PMAY-U): This component focuses on providing affordable housing to the urban population. It aims to construct one crore houses in urban areas by 2022.
• Credit Linked Subsidy Scheme (CLSS): This component aims to provide interest subsidies on home loans for economically weaker sections and low-income groups.
• In-situ slum redevelopment: This component aims to improve the living conditions of slum dwellers by providing them with affordable housing within the exact location.
• Affordable Housing in Partnership (AHP): This component aims to promote private sector participation in the construction of affordable housing.
• Beneficiary-led individual house construction/enhancement: This component aims to provide financial assistance to individuals to construct or enhance their own houses.
• Affordable Housing for Economically Weaker Sections (EWS)/Low-Income Groups (LIG): This component aims to provide affordable housing to economically weaker and low-income groups.
• Affordable Housing for Middle-Income Groups (MIG): This component aims to provide affordable housing to middle-income groups.

How Does The Pradhan Mantri Awas Yojana Work?

Pradhan Mantri Awas Yojana (PMAY) is a housing scheme launched by the Indian government in 2015 to provide affordable housing to low and middle-income groups. The scheme has two components: Pradhan Mantri Awas Yojana – Urban (PMAY-U) and Pradhan Mantri Awas Yojana – Gramin (PMAY-G).

PMAY-U targets urban areas and aims to provide affordable housing to people who do not own a pucca house, with a focus on people belonging to economically weaker sections (EWS) and low-income groups (LIG). Under the scheme, the government provides financial assistance to eligible beneficiaries to construct or enhance a property. The assistance is provided as a subsidy on the home loan interest.

PMAY-G targets rural areas and aims to provide affordable housing to people living in rural areas who do not own a pucca house. Under the scheme, the government provides financial assistance to eligible beneficiaries to construct or renovate their property. The monetary aid is provided in the form of a subsidy on the home loan interest.

To be eligible for the scheme, beneficiaries must meet specific criteria such as income limits, land ownership, and citizenship. The scheme is implemented through partnerships between the Central and State governments and private and public sector entities.

List of State-Level Nodal Agencies  in 2023

The table provides the list of state-level nodal agencies for PMAY along with the organization’s name and address.

PMAY Customer Care Helpline Number

The customer care helpline number for Pradhan Mantri Awas Yojana (PMAY) is 1800-11-6446.

FAQs