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Everything About PMAY – Eligibility, Features and Registration Process

Pradhan Mantri Awas Yojna or PMAY is the new initiative by government of India which was introduced back in 2015 by PM, Modi. This initiative aims to offer affordable housing to all urban poor populace in India. The mission of this scheme is to provide affordable housing for all by the end of 2022 when India completes its 75 years of Independence. Under this affordable housing scheme, thousands of homes will be built in selected towns and cities using the environmentally friendly construction techniques for benefits of urban poor populace.

Moreover, under the Credit Linked Subsidiary Scheme, all beneficiaries of PM Awas Yojna would also get interest subsidy if they opt for housing loan to construct or purchase a home.

Selection and Identification of Beneficiaries under PMAY

  • The family of the beneficiary must comprise of wife, husband and unmarried daughters or sons.
  • The beneficiary family must not have a Pucca house either in his or her name or in the name of any other family members across India.
  • PMAY is the scheme that caters to the housing needs of urban poor. It is for slum dwellers that are living currently in confined areas and slums with insufficient infrastructure, drinking facilities and poor sanitation.
  • The beneficiaries must belong to low income group, middle income group and economically weaker section with annual income of Rs. 3 Lac for EWS, Rs. 3-6 Lac for LIG and Rs. 6-18 Lac for MIGs.
  • The beneficiaries under EWS would get complete assistance under this housing policy, while beneficiaries of MIG and LIG are eligible for CLSS

Prime Highlights of PMAY

  • Under this housing scheme the subsidy interest rate would be 6.50% per annum on any housing loan for the tenure of 20 years and it is applicable for all beneficiaries
  • Senior citizens and differently-abled beneficiaries would get the preferences in allocation of the ground floors under the scheme
  • Eco-friendly and sustainable methods are used for constructions of the building
  • This housing scheme covers maximum number of urban areas across India and this includes 4041 statutory towns that get first priority and 500 class 1 tier cities of India. The construction would be completed in three phases

What are the Objectives of PMAY?

Based on the recent survey, the population of urban dwellers across India is increasing at an alarming rate and it is estimated that this would increase in the following years too. It is believed that by 2050, this populace of urban dwellers would increase up to 814 million. This is just the double the number presently living in urban areas. So, the major challenges for the government are to provide housing options to this population which are affordable. With the launch of PMAY, the government has ensured not only to offer affordable housing to accommodate this populace, but also provide sustainable and secure environment for their living.

  • PMAY aims to offer affordable housing to the population of urban dwellers by 2022
  • It ensures to make the scheme accessible to all demographics and beneficiaries that are economically challenged, women belonging to minority groups and more
  • The scheme also focuses on offering housing to other ignored demographics including windows, and members of lower income group
  • Preferences for ground floor will be given to senior citizens and differently-abled beneficiaries

How to Register for PMAY 2020 Online?

Well, the registration for PMAY 2020 can be done online now from anywhere across the nation. There are certain steps to follow in order to complete the registration process. Below are some of the steps to follow to complete the registration.

  • Visit the official website of PMAY and under “Menu” section find the option “Citizen Assessment”
  • Now enter your 12 digit Aadhaar Card Number and you will be redirected to application page
  • Provide all personal details like your name, income details, address and bank account details
  • Click “I Am Aware Of” option at the end of the application page and click “Save”
  • The system will generate an application number which you may use for further references
  • Download and print the application
  • Submit the form at your near CSC office centre and banks with other supporting documents.

These are the steps that you have to follow to complete the registration process. Check online for Property for Sale in India developed under this scheme and available for resale at the website of PlanMyProperty.

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