Pradhan Mantri Awas Yojana 2021-22: All You Need to Know

Pradhan Mantri Awas Yojana refers to the housing scheme backed by the Government that aims at providing affordable housing to rural and urban poor communities by 2022. Started in the year 2015, the Pradhan Mantri Awas Yojana scheme aims at providing interest subsidy on a buy of real estate through a home loan. Interest subsidy that is available to the beneficiaries basically depends upon the economic category & is restricted by a maximum cap. Under the Pradhan Mantri Awas Yojana mission is a subsidy scheme known as CLSS or Credit Linked Subsidy Scheme launched to cater interest subsidy on home loans availed for the construction/purchase/improvement/extension of a home. This scheme caters to the EWS or Economical Weaker Section, LIG or Lower Income Group & MIG or Middle Income Group of society, given the predicted urban growth and consequent housing demands. Here, in this article, we will know more about the Pradhan Mantri Awas Yojana scheme in detail, Pradhan Mantri Awas Yojana benefits, how to apply for Pradhan Mantri Awas Yojana and other crucial aspects related to the scheme.

What is PMAY?

Pradhan Mantri Awas Yojana scheme is an initiative of the Indian Government to provide affordable housing to the weaker sections of the country by 2022. As per this initiative for expanding the institutional credit flow to housing requirements of the urban poor, it has implemented a credit-linked subsidy scheme (CLSS) as a demand-side intervention. The CLSS is provided on the home loans taken by the eligible poor (LIG/EWS) for construction, acquisition of a home. 

Features & Benefits of Pradhan Mantri Awas Yojana 2021

• As per the Pradhan Mantri Awas Yojana Scheme, the subsidy rate is at up to 6.5% p.a on the housing loans for a maximum term period of 20 years to all beneficiaries.
• Senior citizens and differently-abled are given preference in allocations of the ground floors.
• Eco-friendly and sustainable technologies are used for construction.
• Schemes cover whole urban locations in the country, which involve statutory towns equaling to 4041 with priority given to five hundred Class I cities. It will be performed in three phases.
• Credit linked subsidy feature of Pradhan Mantri Awas Yojana can be implemented in all of the statutory towns from the initial stages. 

Details of Pradhan Mantri Awas Yojana 2021

Pradhan Mantri Awas Yojana list consists of families that include wife, husband and unmarried kids. For reasons of beneficiary selection, each of the adult members of the family with income can be viewed as having separate household entities regardless of their marital status. After submitting the application under the scheme, the applicant can check for their name in PM Awas Yojana list of beneficiaries basis their qualification under rural or urban scheme & applicable category. 

There exist 4 categories as defined under the scheme. They are: 

Economically Weaker Section or EWS

If you are one of those belonging to this specific section, the home loan interest subsidy you can get for the following: 

• Construction of a new home
• Extension/construction of kitchen, rooms, toilet etc.
• Acquisition of new home

Lower Income Group or LIG

Those belonging to this category can get home loan interest subsidy for: 

• Construction of a new home
• Construction/extension of kitchen, rooms, toilet etc.
•  Acquisition of new home

Middle Income Group I or MIG I

Families that belong to the MIG I category can get home loan interest subsidies for: 

• Construction of a home
• Extension of their existing home
• Purchase of new home

Pradhan Mantri Awas Yojana scheme subsidy advantages as per this category are for the households having an annual income of between Rs 6 lakh-12 lakh. The maximum rate of interest subsidy is up to 4%, where the beneficiaries are allowed to claim interest subsidy, which is capped at Rs 9 lakh clubbed with a home loan repayment tenure not exceeding twenty years. 

Middle Income Group-II or MIG II

As per the category, Pradhan Mantri Awas Yojana Scheme is made available for the listed purposes: 

• Extension of existing home
• New home construction or purchase

For availing the subsidy as per the category, the annual income of the beneficiaries should range between Rs. 12 lakh & Rs. 18 lakh, with tenures of the Pradhan Mantri Awas Yojana scheme being restricted to only twenty years. The rate of interest in advance for the specific category or section can be subsidized by not over 3%, with the highest subsidy value being Rs 12 lakh cap.

Pradhan Mantri Awas Yojana Interest Subsidy

Overview of Pradhan Mantri Awas Yojana Scheme

Pradhan Mantri Awas Yojana scheme aims to make the purchase of houses extremely affordable for the Indians by ways of offering interest subsidy as per Credit Linked Subsidy Scheme clubbed with various other kinds of assistance. This operates via 2 branches, PMAY Rural and Urban, to reach as many people as possible, particularly those looking for owning their first house. 

Advantages as per the scheme are extended by pinning down households based on their annual income, home ownership status & other crucial parameters that actually deem them preferable for the application. Clubbed with initiatives such as environment-friendly home construction & affordable expenses, the Pradhan Mantri Awas Yojana Scheme aims at attaining remarkable success in meeting its goal of provision of housing for all by 2022. 

Benefits as per the Pradhan Mantri Awas Yojana scheme are extended to the applicants that successfully qualify as beneficiaries & secure their places in the yearly beneficiary Pradhan Mantri Awas Yojana list released under the scheme. Also, applicants should recognize their suitable category before they proceed to apply for the home loan as per the scheme of affordable home purchase & convenient repayment. 

To understand better what Pradhan Mantri Awas Yojana is and its limitations and advantages, it is crucial to get in-depth into enlistments as per its urban and rural branches. 

PMAY U or Pradhan Mantri Awas Yojana Urban

Note that the Pradhan Mantri Awas Yojana Urban or PMAY U extends the benefit of interest subsidy in nearly 4330 areas or locations in India in close coordination with numerous local development authorities of specific towns and cities. Also, PMAY U aims at covering many other towns and cities of the country by the end of March 2022, as decided under the affordable housing mission. 

Based on the Ministry of Housing & Urban Affairs, about 26.08 lakh houses were completed by July 2019 through the assistance of interest subsidy. Correlating to this specific data, funds of about Rs 51 crore have been released for completion of the home construction or purchase process at subsidized home loan interest rates. Those applicants who are eligible to avail of benefits as per this scheme can simply apply for the subsidy benefits through the Pradhan Mantri Awas Yojana scheme on the online portal. 

PMAY – G or Pradhan Mantri Awas Yojana Gramin

Focusing on the affordable housing facilities in underprivileged areas of India, the Pradhan Mantri Awas Yojana Gramin scheme comes with the mission to cater financial help to the homeless & kutcha home residents to buy or construct pucca homes. Advantages under this scheme are available for all rural areas of the country, excluding those of Delhi and Chandigarh. Residents of the rural regions confined to the plains & other areas can get financing for the home construction or purchase with differential limits as per Pradhan Mantri Awas Yojana Gramin. 

Eligibility Criteria

One can apply for Pradhan Mantri Awas Yojana only if they have not opted for any other government scheme & are a first-time borrower. To become eligible for the PMAY CLSS scheme, they should possess a pucca home or another home. The Government further has mentioned the income slab & other crucial eligibility criteria for distinct groups. One cannot opt for the Pradhan Mantri Awas Yojana benefits on already built homes. Even the extension or construction for which the PMAY home loan gets availed should be finished within a time period of thirty-six months from the disbursement date. 

Documents Required to Apply for Pradhan Mantri Awas Yojana 2021

Under Pradhan Mantri Awas Yojana, you will need the listed documents: 

• Business existence and address proof
• Identity proof like passport, voter ID, aadhaar card etc.
• Address proof such as aadhaar card, ration card, passport, utility bill and others.
• Income proof: Form 16/salary slip for the salaried, bank account statement, financial documents for the self-employed, ITR filed for the previous years.
• Property documents: Copy of the agreement to sell, copy of the allotment letter, developer payment receipt and others. 

How to Apply Pradhan Mantri Awas Yojana 2021?

How to apply Pradhan Mantri Awas Yojana is an important question, which is usually asked by those looking to avail of this scheme.

Here is a step by step method to apply for the Pradhan Mantri Awas Yojana scheme: 

• Visit the official online site of Pradhan Mantri Awas Yojana at the link: http://pmaymis.gov.in/.
• Head to the option ‘citizen assessment’ under the menu on the home page of the website.
• Select the 'Track your assessment status' from the drop-down menu.
• Once you have selected the said option, now you will get a track assessment form.
• Choose either of the options, namely – 'by assessment ID' or 'by name, father's name & mobile number'.
• Once you select either of the options, enter in the required details & then click on the submit option for accessing the application form.
• Once done, ensure to print it. 

Pradhan Mantri Awas Yojana List 2021, 2020, 2019

Are you one of those looking out for ways to check whether your name is listed on the Pradhan Mantri Awas Yojana list? It is a government scheme launched by the PM of India in June 2015 with the goal to cater affordable housing to those sections of the population who are mid-income earners or weak. This scheme proposes to structure nearly 2 crore pucca homes by the year 2022 with basic amenities like sanitation, water facility & electricity supply. 

In association with the private developers, the Indian Government's goal is to assist slum dwellers in availing urban establishments. Moreover, the scheme comes with credit linked subsidy for the mid-income and weaker sections on home loans availed for the purpose of construction of a home or home renovation of the existing one. 

Once you have successfully applied for this scheme, the PMAY beneficiaries will get a reference number for their application basis, which they can check if their names have come up in the Pradhan Mantri Awas Yojana list. 

Thus, if you are someone who have applied in the Pradhan Mantri Awas Yojana scheme but do not know the ways on how to check if your name has come up in the Pradhan Mantri Awas Yojana list, please read on: 

How to check if your name has come up in the Pradhan Mantri Awas Yojana list: 

Pradhan Mantri Awas Yojana is for both rural and urban regions of India. Also, the department concerned always releases two different PMAY lists, one for the rural population and the other for the urban population. Listed below are measures to check if your name has appeared on the PMAY list of 2020-21: 

Check the Pradhan Mantri Awas Yojana (PMAY) Urban list

• Visit PMAY official website http://pmaymis.gov.in/
• Choose the 'search by name' option from the 'search beneficiary' drop-down menu.
•  Ensure that you enter the first three characters of your name. After this, select the button 'show'.
• Once the results come up on your screen. Ensure to check the list to know your name & various other details.

Pradhan Mantri Awas Yojana Rural List or Pradhan Mantri Yojana Gramin List: Check the PMAY Gramin List with the registration number

If you have applied for the PMAY Gramin Rural scheme earlier called IAY (iay.nic.in), you will get a registration number in case your application is approved. For searching your name using PMAY Gramin reg number, ensure to follow the listed measures:

• Visit the PMAY Gramin official site
• Enter in your registration details
• In case your registration number is mentioned on the list, check for other related details.

How to check for the Pradhan Mantri Awas Yojana Gramin List if you do not have any registration number?

• Visit the official site of PMAY Gramin
• In place of mentioning your registration details/number, choose the advanced search option.
• Enter in the details as needed in the form & select the search option
•  In case your name is mentioned on the list, check for other relevant details.

Beneficiaries list of the Pradhan Mantri Awas Yojana Scheme

The beneficiaries of the Pradhan Mantri Awas Yojana list include: 

•  SCs or Scheduled Caste
• ST or Scheduled tribe
• EWS or Economically Weaker Sections
• Women of all religion & caste
• Population belonging to the lower-income group
• Group 1 – Medium income
• Group 2 – Medium income

In case you qualify for being the beneficiary under Pradhan Mantri Awas Yojana, ensure to apply for help under this scheme & buy or construct the home at an affordable cost. With the Pradhan Mantri Awas Yojana now at its 3rd phase, it is just a matter of some time till this government-linked initiative will see its completion. By the year 2022, if all happens as per plan, a huge segment of the economically weaker section might have an affordable home for shelter. 

FAQs

✅What is Pradhan Mantri Awas Yojana Scheme?

Pradhan Mantri Awas Yojana scheme, also called PMAY, refers to a subsidy linked housing scheme launched with the goal to cater affordable homes to all the rural and urban poor sections of the society by the year 2022. This allows the first time buyers of homes to take up home loans & then repay them comfortably at a subsidized rate. These interest subsidies vary from the category that a household or individual qualifies for as per CLSS or Credit Linked Subsidy Scheme. 

The scheme is branched into 2 components, which extends the housing benefits. The two components are PMAYG or Rural/Gramin and PMAY-U or Urban. Though the latter extends subsidy benefits in the form of CLSS, the former consists of numerous benefit modules, which assist the rural population in affording housing via construction or purchase of pucca homes. Those individuals who have applied for the benefits as per this scheme can simply check their beneficiary via PMAY online list & get the benefits accordingly. For a better understanding of what PMAY is, ensure to check CLSS details & benefits under the same. 

✅Through what ways can you check if your name is mentioned in the Pradhan Mantri Awas Yojana list?

Pradhan Mantri Awas Yojana comes up with 2 lists, namely – rural and urban. For the PMAY rural category list, one can check PMAY Gramin official site. Ensure you have the registration number handy when you check for your name in the list. Those looking to check the PMAY urban category list should visit the official website of the PMAY for the same. 

✅What is the interest subsidy and duration of the Pradhan Mantri Awas Yojana?

Those beneficiaries belonging to the economically weaker groups, along with the low-income section looking for a housing loan, are considered eligible to get an interest subsidy of up to 6.5% for an overall maximum duration of 20 years. 

✅How is the Pradhan Mantri Awas Yojna list of the beneficiaries prepared?

For identifying and selecting the beneficiaries for PMAY, Government majorly factors in the SECC 2011 or Socio-Economic & Caste Census 2011. This is the first paperless caste linked census conducted in the country. Also, the Government includes panchayats and tehsils for finalizing the list. The major goal here is to keep all info transparent & offer affordable housing advantages to only those who are deserving home applicants.

✅What are full forms of LIG, EWS, MIG & HIG?

Full forms of LIG is Lower Income Group, for EWS is Economically Weaker Section, for MIG is Middle Income Group & for HIG, the full form is Higher Income Group. Such terms reveal the income conditions of the individual and are usually used in relation to home standards. 

✅What are basic income condition requirements for EWS and LIG categories?

According to the scheme, income norms concerning EWS and LIG categories are: 

• Rs 3 lakh annual income for the EWS households
• Income of between Rs 3 lakh & Rs 6 lakh annually for the LIG households.

✅What basic income condition requirements are for MIG I and MIG 2 categories? 

As per the scheme, the income norms related to MIG I and MIG 2 are: 

• Annual income of between Rs 6 lakh and Rs 12 lakh for the MIG I category
• Annual income of between Rs 12 lakh and Rs 18 lakh for the MIG 2 category

✅Who is eligible for PMAY or Pradhan Mantri Awas Yojana?

The following listed individual & families are eligible for the Pradhan Mantri Awas Yojna Scheme: 

• EWS or Economically Weaker Section: Families having an annual income of up to Rs 3 lakh
• LIG or Low Income Group: Families having annual income of between Rs 3 lakh & Rs 6 lakh
• MIG I or Middle Income Group I: Families having an annual income of between Rs 6 lakh & Rs 12 lakh.
• MIG II or Middle Income Group II: Families having an annual income of between Rs 12 lakh & Rs 18 lakh.
• Women belonging to the LIG and EWS categories
• Scheduled Caste, Scheduled Tribe & other backward class

Additionally, beneficiaries can get benefits of the PMAY scheme if they meet the listed eligibility criteria: 

• Must not own a home to meet the PMAY eligibility.
• Also should not avail the benefits of various housing schemes by Central or State Government.