Pradhan Mantri Awas Yojana (PMAY) is an initiative by the Government of India in which affordable housing will be provided to the urban poor with a target of building 20 million affordable houses by 31 March 2022.
प्रधान मंत्री आवास योजना के बारे में हिंदी में पढ़े
It takes six to eight months to get the benefit of this scheme. The government will not send any money to your account under this scheme. The subsidy amount will be deducted from the principal amount of your home loan account.
If you have taken a loan amount of 10,000,00 then you will get a subsidy amount of 2,67,000. The subsidy amount will be reduced from your home loan amount. ₹ 7,33,000 will be your principal loan amount.
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EWS: Economically Weaker Section
LIG: Low Income Group
MIG: Middle Income Group
- In the property agreement, one lady name is a must either wife or mother (Not Daughter, Sister)
- Your loan must be above 6 Lakhs.
- A person is defined as a family comprising of husband, wife and unmarried children.
- A marital couple can also avail of this scheme.
- A person not having the registered pucca house.
- A person having pucca house less than 225 Square Feet may be included under the enhancement of the existing house.
- A Person who is married and does not own any house is also eligible for PMAY. Even his parents already own a house.
- Up to 18 Lakhs annual household, income family (Father, Mother, Son/Husband-Wife) are eligible in the PMAY scheme.
- A person having a pucca house with Notary Agreement, but not have a registered agreement are eligible for this scheme.
- A beneficiary should have a home loan from NHB (National Housing Bank) licensed nationalized bank and NBFC (Non-Banking Finance) company.
- Such a beneficiary should not own a pucca house either in his / her name or in the name of any member of his / her family in any part of India.
Not Eligible Families
- A Person who owns a pucca house in India is not eligible for PMAY.
- The family has more than 18 Lakhs household income and is not eligible for PMAY.
- If there is no women’s name in property, then you are not eligible for PMAY.
- An NRI citizen cannot take home under PMAY in India.
- You are not eligible for PMAY without a home loan.
This is a complete government scheme. If you are not eligible and any government or private worker tells you that I will get you a house under the Pradhan Mantri Awas Yojana, then it is kind of fraud please stay away from such people.
It is free, you do not have to pay any extra money for it. Go to your bank or company where you have taken a home loan. From there you can fill the Pradhan Mantri Awas Yojana form.
Please call on the given number If you are facing a home loan-related problem.