The Pradhan Mantri Awas Yojana Urban directly addresses the question of the shortage of housing in the urban spaces. It focuses on improving the overall development of the marginalised section in the urban space. Read on to find out all about the PM sahari Awas Yojana and how you can benefit.
Pradhan Mantri Awas Yojana is a government scheme introduced in 2015 by the Prime Minister of India, Shri Narendra Modi. PMAY urban scheme is a sub-scheme of the
Yojana focuses on eradicating poverty by providing housing facilities to the less privileged section of the country in the urban areas.
Pradhan Mantri Awas Yojana was introduced with the Housing For All (HFA) mission in the country. The main objective of the mission is to help the less privileged ones with poor backgrounds to improve their lifestyles and lead the life of their dreams. Two sub-schemes of the PMAY Yojana evolved when it was introduced in 2015- Pradhan Mantri Awas Yojana Urban and Pradhan Mantri Awas Yojana Rural/ PMAY Gramin. These two schemes focus on different areas of the country.
PMAY urban scheme mainly focuses on those who reside in marginal urban areas. Providing houses to eligible families is the main objective of the scheme.
Providing them with houses with water connectivity, electricity, proper toilets, and other necessities is the primary goal of the Pradhan Mantri Awas Yojna Shahri. Eradicating poverty is another of the priority goals of the scheme which eventually leads to the economic development of the country in the bigger picture.
The Prime Minister Awas Yojana (PMAY) is a scheme introduced by the Prime Minister of India in 2015. It aims at helping the less privileged section of the country to have a dignified and hygienic lifestyle. The main objective of the scheme is to help a big part of the country to have a dignified lifestyle that will eventually help in the growth of the country in general from a socio-economic perspective.
Prime Minister Awas Yojana Shahri addresses one of the major issues in the country- the shortage of pucca houses in rural and urban places in India. Several sections have evolved as parts of the main scheme to make the path easier for the future- Affordable Rental Housing Complexes (ARHCS), Global Housing Technology Challenge, and CLSS Awas Portal. The scheme contains two major sub-schemes-
The PMAY urban scheme is a sub-scheme of the Yojana that mainly focuses on those who have a lower income and come from a less privileged background in the urban spaces. Urban housing is the main focus of the scheme that focuses on the betterment of the lifestyle of thousands of people who do not have a proper house with sanitary systems, water connection or electricity.
Additional Info: 10 Important FAQs About Pradhan Mantri Awas Yojana
The PMAY Urban scheme has unique features and offers several benefits to the customers. Make sure you go through the features of the scheme before you apply for the loan.
These are the major PMAY urban eligibility points to keep in mind if you are intending to apply for the scheme soon.
Take a look at the chart to understand the differences between the rates applied to different people from different backgrounds and incomes.
|Particulars||EWS||MIG- II||MIG- I||LIG|
|Household income||up to 3 lakh||12lakh to 18 lakh||6 lakh to 12 lakh||3 lakh to 6 lakh|
|Maximum subsidy||Rs.2, 67280||Rs.2,30156||Rs.2, 35068||Rs.2,67280|
|Maximum loan tenure||20 years||20 years||20 years||20 years|
|Maximum carpet area||30sq.m.||200 sq.m.||160 sq.m.||60 sq.m.|
|The eligible loan amount for calculation||up to 9 lakh||Up to 12 lakh||Up to 6 lakh||up to 6 lakh|
The home loan scheme differs from one person to the other based on their monthly income and other details.
Make sure you compare and analyse the difference between the rates before applying for the PMAY urban scheme.
The Pradhan Mantri Awas Yojana Shahri contains several sub-components and sub-schemes that are implemented by the ministry of India to make sure the goal of the scheme is fulfilled.
The major components that the PMAY Urban contains are listed below:
As per the ISSR component, central assistance of 1lakh is granted to those who construct new houses. The state holds the flexibility to deploy assistance for other slums that are being redeveloped.
2. Beneficiary-led Individual House Enhancement/ Construction (BLC-N/ BLC-E)
Central assistance of around 1.5,00,00 is provided to those who belong to the EWS group for individual house building/extension of an existing house.
3. Affordable Housing in Partnership (AHP)
As per the AHP component, central assistance of up to 1.5 lakh is provided to the EWS groups. State and cities also have the flexibility to extend other concessions, including land at affordable cost state shares, stamp duty, etc., to the borrowers
4. Credit Linked Subsidy Scheme (CLSS)
Those who belong to the EWS section/ LIG section or the MIG- I and MIG- II group are eligible to take home loans for an interest subsidy of 3% to 6.5% for a loan amount of six lakh nine lakh, or 12,00,00 depending on their demands.
The major documents that one must keep while applying for the Pradhan Mantri Awas Yojana scheme include:
Visit the PM Awas Yojana official website- http://pmaymis.gov.in/ and go to the ‘citizen assessment menu’. Next, put your Aadhaar card number and your full name. Enter other personal information and your bank account details and tick the box at the bottom of the screen. Enter the captcha and save your application. Your application number will appear on the screen afterwards. Download and print the form and submit it to your nearest financial Institute/bank along with the necessary documents.
In order to calculate your subsidy under PMAY urban plan, visit the official website- https://pmayuclap.gov.in/content/html/Subsidy-Calc.html and enter your details such as your loan amount, annual family income, loan duration in months, and whether it is your first pucca house or not. Next, you will have to select your carpet area. Make sure you also select which group you come under (MIG- I, MIG- II, LIG) to see your subsidy amount.
No. A feeling of subsidy benefits under the PMAY urban schemes is not possible for resale flats. Only those who are purchasing or constructing a new house for the first time are eligible to apply for this scheme as per the rules of the ministry of India.
Prime Minister how was Yojana for two schemes for the betterment of the poverty situation of the country- Pradhan Mantri Awas Yojana Urban/ Shahri and Pradhan Mantri Awas Yojana RURAL/ Gramin. Both the schemes are intended to focus on providing affordable houses to the less privileged section of the country. The first one focuses on those who reside in the urban areas. On the other side, PMAY Gramin is targeted at those who live in rural areas.
Only those who belong to the Economically Weaker Section (EWS), Low Income Group (LIG), Middle Income Group- I (MIG- I), Middle Income Group-II (MIG II) sections are eligible to apply for the PMAY urban scheme.