Difference Between PMAY Gramin & PMAY Urban

Although they are divisions of the same government housing scheme, the PMAY-U and the PMAY-G differ on various parameters. In this blog, we compare the differences between the urban and rural arms of the Pradhan Mantri Awas Yojana along the following criteria.

Shelter is not only necessary for survival, but is also a basic human right. The Pradhan Mantri Awas Yojana is a welcome initiative towards putting a roof over the heads of crores of Indian citizens.

Eligibility

The type of beneficiaries who are eligible for houses under the PMAY must have the following qualifications:

• These beneficiaries should not own pucca houses anywhere inside the country.

• These beneficiaries should be in possession of a valid Aadhaar ID.

• Any family eligible for a house under the PMAY should have a husband, wife and unmarried children.

• The household income of beneficiaries should not exceed Rs. 18 Lakhs.

• Beneficiaries who are differently abled people, SCs, STs, OBCs, transgenders, single women and senior citizens will be given preference over others.

• The home ownership will be under the name of a woman of the family or under joint ownership.

Online and Offline Application

Potential beneficiaries of the PMAY scheme can apply for a house through online as well as offline modes. The process of applying for a house under the scheme online is as follows:

• Visit the website pmaymis.gov.in

• Select the ‘By Assessment ID (For Citizen Data Only)’ option on the homepage. Choose the option ‘Benefits under other 3 components’ or ‘Slum Dwellers’.

• You will be asked to enter your Aadhaar details.

• Now, you will be directed to the online application form to fill out your details.

• Input the required details such as name, bank account, contact and income information.

• Click on ‘Save’ to submit your application form.

• Enter the captcha code.

• Now that the application is complete, you can download the application for future use.

Those looking for PMAY subsidy for rural area may not have access to the internet. These beneficiaries can also choose to apply offline. Here’s the process:

• Visit a common service centre (CSC) near you in the state of your residence.

• An official working at the centre will provide you with a physical application form.

• Fill out all the details required in the form.

• Submit the form and pay a fee of Rs. 25.

• Get in touch for further clarification via mail on pmaymis-mhupa@gov.i or npublic.grievance2022@gmail.com.

Area Restrictions

The PMAY is applicable for houses built in both urban and rural areas. The scheme gives financial assistance in cities, while the PMAY subsidy for rural areas is also available. The amount of financial aid given to beneficiaries also varies between accessible and far-flung areas.

• PMAY-U: The carpet area of houses built under this scheme differs as per the economic section of each beneficiary. For EWS and LIG sections whose household income doesn’t exceed Rs. 3 Lakhs and Rs. 6 Lakhs respectively, beneficiaries can build houses with a carpet area of 322 square feet and 645 square feet. For lower-middle income groups it is 1722.22 square feet and for higher-middle income groups, the carpet area is capped at 2152.78 square feet.

• PMAY-G: The PMAY subsidy for rural areas varies according to the different terrains in rural India. The scheme grants aid of up to Rs 1.2 Lakhs in rural areas situated in the plains, and Rs. 1.3 Lakhs in remote areas.

Income Restrictions

• PMAY-U: As mentioned above, the PMAY scheme is open to people belonging to EWS, MIG, LIG sections and slum dwellers. The scheme allows for access to houses of various sizes for these different economic sections through a range of financial aid sizes.

• Economically weak sections: This section concerns households earning up to Rs 3 Lakhs . They can avail of a maximum loan amount of Rs 6 Lakhs. The maximum interest subsidy given is 6.5%.

• Low income groups: Groups that earn up to Rs. 6 Lakhs yearly fall under this group. Like EWS applicants, they can get a maximum loan amount of Rs. 6 Lakhs and an interest subsidy of 6.5%.

• Middle-income groups: MIG-I households earn a yearly income of Rs. 6 Lakhs to Rs. 12 Lakhs and can get a loan of up to Rs. 9 Lakhs. They can get an interest subsidy of 4%. MIG-II households earn up to Rs. 18 Lakhs each year and can get a loan amount of Rs. 12 Lakhs. The maximum interest subsidy these groups can avail of is 3%.

• PMAY-G: Is PMAY applicable for rural areas? The rural arm of the PMAY will cover not only new houses, but also one crore existing kutcha houses. In rural areas, the financial assistance available to plain areas will be Rs. 1.2 Lakhs and Rs. 1.3 Lakhs in remote areas. Moreover, these rural houses will be spread across a carpet area of at least 269 square feet. PMAY subsidy for rural areas is slightly different from the urban provisions. Refer to the above section to know more about PMAY subsidies.

Benefits for EWS, LIG and MIG

The benefits extended under the PMAY program differ for EWS, LIG and MIG economic sections. Here are the benefits –

1. EWS

• Loan amount of up to Rs. 6 Lakhs

• Maximum subsidy of Rs. 2.76 Lakhs

• Loan tenure of up to 20 years

• Carpet area of 322 square feet

2. LIG

• Loan amount of up to Rs. 6 Lakhs

• Maximum subsidy of Rs. 2.76 Lakhs

• Maximum loan tenure of 20 years

• Carpet area of up to 645 square feet

3. MIG-I

• Maximum loan amount of Rs. 9 Lakhs

• Subsidy of up to Rs. 2.67 Lakhs

• Loan tenure of 20 years

• Carpet area of 1291 square feet

4. MIG-II

• Loan amount up to Rs. 12 Lakhs

• Subsidy of Rs. 2.3 Lakhs

• Loan tenure of 20 years

• Maximum carpet area of 1614 square feet.

Exemptions

There are several exemptions that beneficiaries under the PMAY must adhere to. Here’s a list of the exemptions, whether you are seeking PMAY subsidy for rural areas or urban areas:

• All economic sections must adhere to their annual income caps and the maximum loan amounts mentioned above.

• The home ownership is required to be under the name of a female.

• Applicants must not own pucca houses anywhere in India.

• Applicants shouldn’t have already gotten any assistance from state or central governments.

• The property should be located in geographical areas specified under the 2011 census.

Minimum Requirements

The eligibility requirements, exemptions, income and area restrictions for assistance under the PMAY scheme have already been listed above. In addition to these, an applicant under the scheme should have the following documents in their possession. This is necessary for the PMAY subsidy for rural areas as well as urban areas.

• A government identity proof such as passport, driver’s licence, birth certificate, PAN card

• Affidavit signed by the entire family saying none of them has a pucca house

• House development agreement with the builder if the house is being built. Receipt of down payment in case of a purchase

• Property registration document and bank statements

• Salary and address proof

• A cheque for payment of the processing fee

  Conclusion

  Whether you live in an urban or a rural area, the Pradhan Mantri Awas Yojana can help you achieve your goal of becoming a homeowner by making home loans incredibly affordable for you. What’s more, you can avail the benefits of this housing scheme on any home loan option that is available on Bajaj Markets. To qualify for a housing loan from a lending partner of Bajaj Markets, all you will need to do is satisfy the home loan eligibility criteria and keep the necessary documents ready. You can cross-check your eligibility through our home loan eligibility calculator. Once you are sure of your eligibility, you can try out our home loan EMI calculator and find out which home loan option will be the most pocket friendly to you. Once you have figured that out, you can go ahead and apply for house loan right away!