Pradhan Mantri Awas Yojana (PMAY) is a housing initiative launched by the Government of India in 2015 with the aim of providing affordable housing to all citizens by 2022. The scheme targets the shortage of affordable housing in India, especially in urban areas. To provide financial assistance to those who are unable to purchase their own home. Under the PMAY scheme, eligible beneficiaries can avail interest subsidy on home loans and direct financial assistance for construction of houses.
This blog will explain in detail about the PMAY scheme, its various components, eligibility criteria and the application process to avail the benefits.
What is PMAY scheme?
Pradhan Mantri Awas Yojana (PMAY) is an initiative launched by the Government of India in 2015 to ensure that all citizens have access to affordable housing by 2022. The program aims to address the shortage of affordable housing in India, especially in urban areas. Financial assistance to those who are not able to buy a house.
- The PMAY program aims to provide affordable housing options to all citizens by 2022, India’s 75th year of independence.
- Eligible beneficiaries can avail subsidy on home loans, direct financial assistance for construction of houses, rehabilitation of slum dwellers and credit-linked subsidy for middle income group.
- Pradhan Mantri Awas Yojana (PMAY) aims to provide housing assistance to Economically Weaker Sections (EWS), Low Income Groups (LIG) and Middle Income Groups (MIG) in urban and rural areas.
- PMAY is implemented with funding from the Central and State Governments as well as private sector participation.
Types of Pradhan Mantri Awas Yojana
The PMAY scheme has two segments that focus on different areas:
- It aims to provide affordable and accessible housing units to eligible beneficiaries in rural areas of India except Chandigarh and Delhi. The scheme follows a cost-sharing model, in which the Government of India and the respective state governments share the development costs. The ratio is 60:40 for the plains and 90:10 for the north-eastern and hilly areas.
- Pradhan Mantri Awas Yojana Urban (PMAY-U): PMAY-U focuses on urban areas in India and covers 4,331 towns and cities. The scheme has been implemented in three phases:
- Phase 1: From April 2015 to March 2017, the government aimed to cover 100 cities across different states and union territories.
- Phase 2: From April 2017 to March 2019, the government aimed to cover 200 additional cities across different states and union territories.
- Phase 3: The government aims to cover the remaining cities that were not covered in Phase 1 and Phase 2 by December 2024. The objective is to achieve wider coverage under PMAY-U.
What are the features of Pradhan Mantri Awas Yojana Scheme?
Some key features of the scheme include:
I. Eligibility Criteria:
- Pradhan Mantri Awas Yojana (PMAY) scheme is available for households with annual income up to Rs 18 lakh.
- To be eligible for the scheme, individuals should not have a permanent home in any part of India.
Second. Benefits of the scheme:
- PMAY scheme provides financial assistance to eligible beneficiaries for construction or improvement of their houses.
- Eligible beneficiaries can avail interest subsidy of up to 6.5% on the loan amount for construction of a new house.
- Eligible beneficiaries can avail interest subsidy of up to 3% on the loan amount for improvement of existing home.
Third. Implementation of the plan:
- The PMAY scheme is implemented through three verticals:
- Pradhan Mantri Awas Yojana – Urban (PMAY-U) is implemented in urban areas and targets EWS (Economically Weaker Section) and LIG (Low Income Group) households.
- Pradhan Mantri Awas Yojana – Rural (PMAY-G) is implemented in rural areas and targets households living in kutcha houses.
IV. Funding of the scheme:
- The PMAY scheme is funded by the Government of India, State Governments and the beneficiaries.
- The funding pattern for the scheme varies depending on the vertical being implemented.
V. Monitoring and Evaluation of the Scheme:
- Monitoring and evaluation of the PMAY scheme is done by the Ministry of Housing and Urban Affairs (MoHUA) through the use of a web-based monitoring system called AwaasSoft.
- The monitoring system collects data on the progress of the scheme at the national, state and district levels.
Subsidy rates of Pradhan Mantri Awas Yojana (PMAY)
| Description | interest subsidy | Maximum loan for subsidy |
|---|---|---|
| EWS | 6.50% Per year | 6 up to lakh rupees |
| low income group | 6.50% Per year | 6 up to lakh rupees |
| MIG-1 | 4.00% Per year | 9 up to lakh rupees |
| MIG-2 | 3.00% Per year | 12 up to lakh rupees |
How to avail PMAY interest subsidy?
- Apply for a home loan from a recognized lending institution that provides PMAY subsidy.
- If you meet the eligibility criteria, the lending institution will forward your application to the central nodal agency.
- After confirming your eligibility and approving your application, the Central Nodal Agency will disburse the subsidy amount to the lending institution.
- Simply continue paying your regular EMIs for the remaining loan amount and avail the low interest subsidy.
Beneficiaries of Pradhan Mantri Awas Yojana (PMAY)
| beneficiary | annual income limit |
|---|---|
| Middle Income Group (MIG I) | Income between Rs 6 lakh to Rs 12 lakh |
| Middle Income Group II (MIG II) | Income between Rs 12 lakh to Rs 18 lakh |
| low income group (LIG) | Income between Rs 3 lakh to Rs 6 lakh |
| Economically Weaker Section (EWS) | Income up to Rs 3 lakh |
Apart from the categories mentioned above, individuals from SC, ST and OBC categories as well as women from EWS and LIG income groups are also eligible for the PMAY scheme.
Main points of Pradhan Mantri Awas Yojana
| main idea | Economically Weaker Section (EWS) | Low Income Group (LIG) |
| Home loan amount eligible for interest subsidy | up to Rs 6 lakh | up to Rs 6 lakh |
| maximum loan period | 20 years | 20 years |
| Discount rate for calculating net present value of interest subsidy | 9.00% | 9.00% |
| dwelling unit carpet area | up to 30 square meters | up to 60 square meters |
| duration of the plan | From 17 June 2015 to 31 December 2024 | From 17 June 2015 to 31 December 2024 |
| Applicability of having no permanent house | Not applicable for upgrade or renewal | – |
| Women Ownership/Co-ownership | Not required for existing property. Mandatory for new acquisitions. | – |
| Amount paid in lump sum for each approved home loan application | Rs 3,000 | Rs 3,000 |
| quality of flat/house construction | Compliant with BIS Code, National Building Code and NDMA guidelines | – |
| Approval for building design | Mandatory | Mandatory |
| Basic civil infrastructure (water, electricity, sanitation, sewerage, roads etc.) | Mandatory | Mandatory |
| Maximum interest subsidy amount | Rs 2,67,280 | Rs 2,67,280 |
Parameters of Pradhan Mantri Awas Yojana
| Main parameters | Middle Income Group I (MIG I) | Middle Income Group II (MIG II) |
| Home loan amount eligible for interest subsidy | up to Rs 9 lakh | up to Rs 12 lakh |
| maximum loan period | 20 years | 20 साल |
| dwelling unit carpet area | 160 square meters | 200 square meters |
| Maximum interest subsidy amount | Rs 2,35,068 | Rs 2,30,156 |
| Payment of a lump sum instead of processing fee for each approved home loan application | 2,000 | 2,000 |
| Discount rate for calculating net present value of interest subsidy | 9.00% | 9.00% |
| duration of the plan | From 1 January 2017 to 31 December 2024 | From 1 January 2017 to 31 December 2024 |
| Women Ownership/Co-ownership | Not compulsory | Not compulsory |
| Applicability of having no permanent house | Yes | Yes |
| Approval for building design | compulsory | compulsory |
| Quality of house/flat construction | Compliance with relevant codes and guidelines | – |
| Basic civil infrastructure (water, roads, sanitation, sewerage, electricity etc.) | compulsory | compulsory |
| Basic civil infrastructure (water, roads, sanitation, sewerage, electricity etc.) | self declaration | self declaration |
| identity proof | aadhaar card number | aadhaar card number |
What are the eligibility criteria for Pradhan Mantri Awas Yojana?
The eligibility criteria for Pradhan Mantri Awas Yojana are as follows:
- To be eligible for this housing program the applicant must be a citizen of India.
- The applicant should not have any permanent house in any part of India in his/her own name or in the name of any family member.
- Home loan for renovation or expansion of existing property must be completed within 36 months of receipt of the first loan installment
- A woman’s name must appear on the deed or property papers as sole owner or joint owner
- If there is no woman in the family, this requirement may be waived.
- applicant’s annual
- EWS (Economically Weaker Section): Up to Rs 3 lakh per year
- LIG (Low Income Group): Rs 3 lakh to Rs 6 lakh per annum
- MIG (Middle Income Group) Category I: Rs 6 lakh to Rs 12 lakh per annum
- MIG (Middle Income Group) Category II: Rs 12 lakh to Rs 18 lakh per annum
- The annual income of the Vedak should not exceed the following limits:
- The applicant should not have received any other housing benefit from any government scheme.
- The applicant must be the head of the household and must not be more than 60 years of age.
Note : Please be aware that the eligibility criteria mentioned above are subject to modifications and could differ based on the guidelines of the scheme in your state or union territory. We recommend checking the most recent guidelines on the official website of the Ministry of Housing and Urban Affairs or contacting the implementing agency in your locality.
Applying for Pradhan Mantri Awas Yojana is simple and easy
Applying for Pradhan Mantri Awas Yojana is easy!
- Visit the official PMAY website and click on “Citizen Assessment” option under “Menu” tab.
- Enter your Aadhaar number.
- Fill the application form with all the required information including income details, personal details, bank account details and more.
- Make sure to review all the details before sending in the form.
- Get a unique application number after clicking on “Save” option.
- Download the filled application form.
- Submit the form along with any required documents to the nearest CSC office or financial institution offering PMAY.
Documents required for Pradhan Mantri Awas Yojana: Address Verification for Business Organizations
| Types of Documents | Business/Commercial Entities |
| Address proof documents | PAN CardTrade License CertificateShops & Establishment CertificateSSI Registration CertificateFactory Registration CertificateVAT Registration CertificateSales TaxExport-Import Code CertificateProfessional Qualification CertificateDegree Certificate for ProfessionalsSEBI Registration CertificateRegistration Number issued by ROCPartnership DeedMemorandum of Association (MOA)Loan Repayment Document with 6 Months Repayment Bank Statement (Active Loan in the matter of) |
How to check Pradhan Mantri Awas Yojana application status?
There are two ways to check the status of your application for the Pradhan Mantri Awas Yojana (PMAY) housing scheme in India. The first method is to use Assessment ID, and the second is to use Name, Father’s Name and Mobile Number.
Status by name, father name and mobile number
To check the status of your PMAY (Pradhan Mantri Awas Yojana) application, you can try the following steps:
- Visit the official PMAY website (http://pmaymis.gov.in/) and click on “Citizen Assessment” tab.
- Choose your state and district on the following page, then enter your application ID or mobile number.
- Click on the “Search” button to view the status of your application.
Status Using Assessment id
Here’s how you can find out the status of your PMAY application:
- Visit the official PMAY website (http://pmaymis.gov.in/).
- Click on “Citizen Assessment” tab.
- Choose your state and district, then input your application ID or mobile number.
- Click on “Search” to view the status of your application.
What is the objective of Pradhan Mantri Awas Yojana scheme?
Following are the objectives of the Pradhan Mantri Awas Yojana scheme:
- Offer inexpensive housing choices for city and countryside residents facing financial challenges, such as those residing in slums or substandard housing.
- To enhance the quality of life for needy urban and rural individuals by providing safe and secure housing options.
- Encourage the construction of environmentally sustainable homes, such as homes with rainwater harvesting and solar power systems.
- Create employment opportunities in the construction industry and related sectors.
- Contribute to the economic growth of the country through expansion of the construction industry and increasing demand for construction materials and related products.