Pradhan Mantri Awas Yojana - Application Procedure

With an aim to make ‘housing affordable for all by 2022’, the government of India launched the Pradhan Mantri Awas Yojana. Under the PMAY scheme, the government offers home loan subsidy to PMAY eligible candidates. The government has agreed to invest nearly INR. 6.4 billion for the same. Launched in the year 2015, the scheme is currently in its third phase and aims to put a permanent roof on the heads of urban as well as the rural poor population under its two components:-

• Pradhan Mantri Awas Yojana-Urban (PMAY-U)

• Pradhan Mantri Awas Yojana-Rural (PMAY-R)

The government aims to build over 20 million affordable houses by the end of 2022 under the PMAY. To reach this audacious target, the scheme is bifurcated into four key verticals-

• In-Situ Slum Development

To utilize the land locked in slums around cities for affordable housing

• Credit Linked Subsidy

A subsidy of 6.5% on home loan interest rates to lower the EMI amount. This move is taken to encourage new home-buyers to avail home loans for building their dream home

• Affordable Housing in Partnership

Provide subsidy of over INR 1.5 lakhs to builders and developers who would partner with the government in making this scheme a success

• Beneficiary-Led Construction

Assistance to people belonging to the EWS section to construct new houses or enhance the existing house.

Eligibility Criteria for PMAY Scheme

• The applicant must belong to either of these three income categories specified under the PMAY scheme:

• Economically Weaker Section (EWS)- People with an annual income of less than INR.3 lakhs

• Low Income Group (LIG)an - People with annual income between INR 3 lakhs to INR.6 lakhs

• Medium Income Group (MIG): This income group is further divided into two types: MIG 1 (Individuals with an annual income between INR.6 lakh to INR.12 lakh) and MIG 2 (Individuals with an annual income between INR.12 lakh to INR.18 lakh)

• The scheme also considers minority for PMAY subsidy. This includes people belonging to SC, ST and OBC group.

• The scheme is ‘pro-woman’. Thus, if the applicant is male, he needs to have a female member of his family (preferably wife, mother or daughter) as the co-owner of the property.

Also know about the PMAY Subsidy and PMAY eligibility calculator.

PMAY Application Procedure

An applicant who fulfills either of the above-mentioned criteria is eligible to apply for the Pradhan Mantri Awas Yojana. You can even use a housing loan EMI calculator to check the amount that you are eligible to pay as per your eligibility on the subsidized home loan.

The mode of application can be either online or offline-

PMAY application offline

The offline application for PMAY can be done at Common Service Centers (CSCs) located across the country. A nominal fee of INR.25 would be charged to fill the offline PMAY application.

PMAY application online

The online PMAY application can be done for free at the official PMAY website. Following are the steps involved for PMAY online apply-

• Visit the official website at https://pmaymis.gov.in/

• Go to the ‘Citizen Assessment’ tab on the home page and check the category under which you wish to apply for the scheme.

• Once you select your income category, you would be asked to submit your Aadhar details. Providing your Aadhar details is mandatory for availing the benefits of the PMAY scheme.

• Once your Aadhar details are provided, you would be redirected to the PMAY online application form to submit your other personal details. These include your income details, bank details, co-applicant details, contact numbers, etc.

• The next step would require you to enter the ‘Captcha code’ and save the application. Once saved, you can refer to your PMAY online application for any future use.

Know how to apply for PMAY scheme.

Documents Required for PMAY Scheme

Whether applying online or offline, the following documents are necessary for PMAY –

• A copy of your Aadhar Card

• Identity Proof (Aadhar Card, Passport, Driving License)

• Residential Proof (Passport, Driving License, Electricity bill, Telephone bill)

• The relevant caste certificates (In case the applicant belongs to any minority class)

• Income details to validate your selected income group. These include your salary slips, IT returns, property valuation certificates, bank details, and account details, etc

• Proof that the applicant does not have a house in his/her name or in the name of any family member

• Proof that the applicant is constructing home under the PMAY scheme

Also check latest PMAY List at Bajaj Markets

Steps To Check Your PMAY Application Status Online

You can check the status of your PMAY online application through the following ways-

1. Via Assessment ID

2. Via Personal Details

1. Via Assessment ID

• Visit the official PMAY website

• Click on the ‘Citizen Assessment’ tab and click on ‘Track Your Assessment Status’

• Choose “By Assessment ID” from the two options provided

• Enter the Assessment ID provided at the time of filling the online PMAY application

• Click ‘Submit’ after filling the necessary details

• The status of your application would be displayed on the site

2. Via Personal Details

• Visit the official PMAY website

• Click on the ‘Citizen Assessment’ tab and click on ‘Track Your Assessment Status’

• Choose “By Name, Father’s Name or Moblie Number” from the two options provided

• Provide the City, District and State details on your application

• You would be next asked to provide details, such as your name, mobile number, and Father’s name.

• Click submit, once you are done with these details

• You can then check your status online

To avail the benefits of the PMAY subsidy, apply for the Bajaj Finserv Home Loan at Bajaj Markets today! The home loans offered at Bajaj Markets come with attractive home loan interest rates and flexible repayment options up to 300 months. Moreover, you can also enjoy the benefit of complimentary value-added services on these loans, including a detailed financial report on your loan transactions. With insurance and top-up options, you can enjoy maximum convenience on your home loan EMI. To know more about the other benefits of the Bajaj Finserv Home Loan and pmay apply online, get in touch with our representatives at Bajaj Markets today!

You can get to know everything about PMAY. You can also check your home loan EMI with the help of home loan calculator.

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