Pradhan Mantri Awas Yojana
With the aim to construct more than two Crores houses across the entire nation within next 7 years the Prime Minister of India, Shri Narendra Modi launched Pradhan Mantri Awas Yojana. It envisages the vision of housing for all the by the year 2022. The scheme was launched by the Prime Minister on 25th June 2015.
The main people who will be benefitted directly from this scheme are women, Scheduled Castes, Schedules Tribes and economically weaker sections. The applicant needs to submit a self-certificate or Affidavit as a proof of income to verify that the applicant belongs to the Economically Weaker section (EWS) or Low Income Group (LIG) group. The income should not exceed Rs 3 Lakh per anum for EWS applicants and Rs 6 lakh for LIG applicants. Age of the applicants should be between 21 to 55 years. All statutory towns as per Census 2011 and towns notified subsequently would be eligible for coverage under the Mission.
The Mission is being implemented during 2015-2022 and provides central assistance to Urban Local Bodies (ULBs) and other implementing agencies through States/UTs for:
- In-situ Rehabilitation of existing slum dwellers using land as a resource through private participation
- Credit Linked Subsidy
- Affordable Housing in Partnership
- Subsidy for beneficiary-led individual house construction/enhancement.
To fill the application form, download the application form from the online portal and fill the required details. After that submit the filled form at the concerned office.
Loans under Pradhan Mantri Awas Yojana
- The benefit of Pradhan Mantri housing Scheme is that EWS and LIG Beneficiaries of Economically Weaker section (EWS) and Low Income Group (LIG) looking for house loan would be eligible for an interest subsidy at the rate of 6.5%.
- This will be valid for 15 years or during the tenure of loan whichever is lower on the initial Rs. 6 Lakh. Any additional loan/s beyond Rs. 6 Lakh will be at the nonsubsidised rate.
- There is no limit on the loan amount
The phases of Implementation of Pradhan Mantri Awas Yojana
Starting in the year 2015 the implementation will go until the year 2022 and would be carried out in three main phases.
- Pradhan Mantri Awas Yojana Phase 1: The phase 1 will span from April 2015 to March 2017 and a total of 100 cities would see the developmental work.
- Pradhan Mantri Awas Yojana Phase 2: The phase 2 would span from April 2017 to March 2019 and during this phase, a total of 200 more cities will be covered and developed.
- Pradhan Mantri Awas Yojana Phase 3: The phase 3 will span from April 2019 to March 2022 and in this, all the remaining cities will be covered and developed.
Conditions of Pradhan Mantri Awas Yojana
- This Awas Yojana will be implemented during 2015 to 2022 i.e. 17/06/2015 to 31/03/2022
- The house to be constructed or purchased should be in the name of the female head of the family OR it can be in the joint names of male head and female member in the family
- If there is no adult female in the family, then the male member becomes eligible to apply
- To be eligible to receive the central assistance under the mission the Beneficiary family should not own a “pucca” house
- The mission will support the construction of houses up to 30 square meter carpet area with basic civic infrastructure.
- The minimum size of houses constructed under the mission under each component should conform to the standards provided in National Building Code (NBC).
- The houses under the mission should be designed and constructed to meet the requirements of structural safety against earthquake, flood, cyclone, landslides etc. conforming to the National Building Code and other relevant Bureau of Indian Standards (BIS) codes
- NRI’s are also eligible to apply for this scheme
Features of Pradhan Mantri Awas Yojana Scheme
- On housing loan, Interest Subsidy of 6.5 percent will be provided for 15 years to the beneficiaries
- While Registering for the various Affordable housing Schemes under the PMAY, it would be important for the applicants to include the name of Wife or Mother.
- The newly constructed houses will either be allotted on the name of the female head of the family or it could be joint name of male and female head of family
- Older and Differently-abled persons will be given preference in the allotment of ground floors under the PM Awas Yojana Scheme
- Eco-Friendly and sustainable technologies will be used during the construction process