Read Pradhan Mantri Awas Yojana Guidelines 2017

Introduced in 2015, Pradhan Mantri Awas Yojana (PMAY) is a mission that aims at housing for all. The scheme targets the people who belong to lower income group, economically weaker section and middle income group in India. The scheme launched by the Central Government aims at providing up to 2 crore houses to the people residing in urban and rural areas. The scheme is divided into phases. First phase of the plan completed in March 2017 and the second phase has started. To take the advantage of the scheme the applicant must adhere to the Pradhan Mantri Awas Yojana Guidelines(PMAY).

This scheme is eligible in all statutory towns as per Census 2011 and statutory towns notified. The States and Union Territories have the flexibility to include the planning areas as notified with reference to statutory towns and such planning areas as notified by the development authorities.

The benefit of housing project can be availed by the families that have husband, wife, unmarried sons/daughters. The applicant should not own a pucca house either in his/her name or in the name any other family member. However, an adult earning member, whether married or not can have a separate household if he/ she does not has a pucca house in his/her name in part of the country.  In case of married couple, either of the spouses or both together in joint ownership will be eligible for a single house, subject to income eligibility of the household under the scheme.

The eligible candidates can enroll and avail the benefit of the scheme. To apply they can either follow the offline procedure or the online process. The candidates can even register at CSCs established at various places across the nation. The candidates are required to submit all their documents at these centers along with the minimum registration of Rs. 25 and service tax. However, no registration fee is charged for online registration. The registration can be made through pradhan mantri awas yojana official website. For offline application there is a demand survey by the local urban bodies/ gramin sabha.  After the survey the verification process will start and then registration will begin.

The application form comprises of the following fields that are to be necessarily filled by the applicant:

• Name of the applicant
• Contact Details
• Gender
• Date of Birth
• Category
• Annual Income
• Aadhar Number
• BPL certificate details
• House loan details

The applicants have to provide the mandatory documents along with the application form. Aadhar Card is must and all applicant have to submit it. Beside it, the applicant has to provide BPL certificate, income certificate identity proof and address proof.

Once the application form has been filled, the applicant has to track the status whether or not the loan application is approved. It is only when everything is according to the Pradhan Mantri Awas Yojana guidelines PMAY, the application for subsidized loan is sanctioned. This scheme is very useful for the people having low income. By enrolling in this scheme people can fulfill their dream of having a own house. The unique features of this scheme are as follows:

• The people eligible are entitled to get a home loan at subsidized rates. The subsidized interest rate of 6.5% will be offered under the scheme.
• The subsidized loan is available for the long tenure of 15 years.
• Female applicants will be given preference under the scheme.
• The house constructed under the scheme should strictly follow the eco-friendly construction technology.
• The loan at subsidized rate will be available for the amount ranging up to Rs. 6 lakhs.

The subsidized loan rates is to help the low income group have a pucca house in their name. By 2022, the government is planning to provide 2 crore houses in urban and rural areas. The scheme was launched by Prime Minister Narendra Modi. It now covers middle income group as well apart from low income group and economically weaker section. Under this scheme, the applicant take a home loan at subsidized rates. The reduced interest rate will help people lower their EMI and deduce the repayment burden. However, to avail the benefit of the scheme there are certain guidelines that are to be kept in mind.