The Pradhan Mantri Awas Yojana is type of a home loan scheme initiated by government. The main objective is to offer housing unit to the poor at affordable rates. The main initiation of the PMAY Scheme has been done by Prime Minister Narendra Modi.It shall offer home units with water system, toilet facility and other basic facilities at a cheap rate. The target group is the rural people and the central government wants to help them get a housing unit to live in. Let us go through the following part of the article to get more idea on the scheme implementation and its features.
Key features of Pradhan Mantri Awas Yojana –
- Grant per house – The central government of India will offer grant of rupees 1 lakh to every house in the slums
- Central help – To get cheap housing unit in partnership, the central will be given rupees 1.5 lakhs
- Interest subsidy – The rate of interest is 6.5% for housing loans and it is offered only for 20 years
- Encouragement for women applicant – The scheme guidelines encourage women applicant or co-applicant to take part in the scheme
- Use of sustainable items – As per the scheme details, it is mandatory to use eco-friendly items for the benefit of house construction
- Approval – It is important to get approval for the construction before it starts
- Limit of loan amount – There is no limit on the loan amount of the property money relating to this link
- Quality of property – It is important to maintain the quality of the house as per the guidelines of scheme and National Disaster Management Authority
Eligibility criteria of Pradhan Mantri Awas Yojana –
- Not having own house –The beneficiary should not have house of his own to be eligible to avail of benefits from the scheme.
- Should not avail other schemes – Beneficiaries are not allowed to get benefits from other housing scheme under central or state government
- Should not be part of PMAY – The beneficiaries should not be part of any scheme offered by Primary lending institutes.
- Loan borrowing benefits – Loan borrowers under this subsidy cannot switch to other loan facilities during the tenure period.
- MIG income details – The ones belonging to MIG income group need to furnish details of their income such as Aadhaar card details at the time of registration for the scheme.
The ones belonging to EWS group will be completely benefited from the scheme. However, the ones belonging to LIG and MIG group can only eligible for linked subsidy.
How to apply for the PM Awas Yojana Online –
- To apply for the scheme, the candidates have to apply through the official portal on link
- Now, you have to select ‘citizen assessment’ option from the pages that shows up
- After this, correctly enter 12 digit Aadhaar card number along with name as given in the Aadhaar card
- Only after successful verification, the PMAY application page will show up
- Following this, you have to enter correct income details, bank details and the like
- Now, tick the box with “I am aware of…”
- Correctly enter the displayed captcha and then click on “save” option
- Soon after clicking on the save option, the application number is generated and you have to keep it for future use
- You can download the application
- After this, you have to submit the form in some nearest common service centers or other financial institutes along with the required documents required for scrutiny purpose
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