Pradhan Mantri Awas Yojana; How to avail it

 

Government Housing Scheme in India

When you are planning to buy a house in India, do check for various subsidies and schemes available and offered by government. As Government is pushing for affordable housing scheme which will benefit public a lot if your budget is within the government provided limits for availing that housing scheme.

Affordable housing scheme allows the lower income group and middle-income group to purchase the houses in India at lower interest rates and government is providing subsidy against the same.

There is most popular scheme, which is central government scheme for providing housing for all know as Pradhan Mantri Awas Yojana, in short it is called as PMAY. The aim of this scheme was to provide housing for all by year 2022. This scheme was launched on dated 25^th June 2015 by Government of India and same is now implemented by Ministry of Housing and urban affair.

 

There is one criteria for availing this scheme is that you should not have any Pucca house anywhere in India. Since this scheme is for family, so you must have family of Husband, wife and unmarried children.

Now let us check who can avail this benefit and How to avail the benefits of PMAY:-

Depending upon the income of persons, this housing subsidy can be claimed. There are two types of schemes naming as below:-

(a)    Pradhan Mantri Awas Yojana for Urban area

(b)   Pradhan Mantri Awas Yojana for Rural area

We will discuss one by one both of these areas eligibility criteria.

(a)   Pradhan Mantri Awas Yojana for Urban area

 Eligibility depending upon the income slab is as below:-

1.      Lower income group:-

Lower income group is divided into two categories:-

(i)                 Economically Weaker Section (EWS)

(ii)               Low income group

Starting with Economically weaker section group, which has income up to three Lacs per annum, can avail this offer. They can get interest subsidy of 6.4% under this scheme.

Lower income group can be avail this offer if their annual income is between three lacs to six lacs. They can get also benefit of subsidy of 6.4% under this scheme.

2.     Middle income group:-

Middle-income group is further divided into two categories:-

(i)                 Middle income Group 1:- In this category, if any person has income up to 12 lacs per year than he can avail this facility. He/she can be eligible for 4% subsidy on loan up to 9 lacs and maximum subsidy of amount Rs. 2.35 lacs can be given to person under credit linked subsidy scheme.

(ii)               Middle Income Group 2 in this person will be eligible for 3% subsidy on loan amount if a person is getting income up to 18 lacs. In this case, person will be eligible only of loan amount is up to 12 lacs and person can be eligible for maximum subsidy amounts to Rs. 2.30 lacs under Credit Linked Subsidy scheme.

(b) Pradhan Mantri Awas Yojana for Rural Areas

(i)                 You can avail this scheme for rural areas as well but there is different criteria for the same in this case list of eligible persons is prepared by area Gram Sabha which are selected on the basis of national level socio-economic and caste census data.

(ii)               If you appear in that list than you can avail this offer.

 Lot of people are getting benefit from this scheme and this scheme is really beneficiary for people of India who has dream of owning a house at affordable prices. In fact lot of builders has launched affordable housing scheme where people can buy their houses and avail this offer.