How can you apply for the affordable housing scheme — PMAY? Read below for the procedure!
Eligibility and Subsidy Under CLSS Of PMAY
There are 4 categories of people who can avail benefits under CLSS (Credit-linked Subsidy Scheme) of the PMAY (Pradhan Mantri Awas Yojana): People in the EWS category (annual household income up to Rs 3 lakh), LIG category (annual household income up to Rs 6 lakh), MIG-I category (annual household income up to Rs 12), and the MIG-II category (annual household income up to Rs 18 lakh).
Beneficiaries of the Economically Weaker Section (EWS) and Low-income Group (LIG) seeking house loans from banks, housing finance companies (HFCs), and other such institutions will be eligible for an interest subsidy at the rate of 6.5%, or during tenure of loan, whichever is lower.
Interest subsidy will be credited to the loan account of the beneficiaries through the lending institutions resulting in reduced effective housing loan and EMIs. “The finance minister’s announcement of a dedicated Affordable Housing Fund (AHF) in the National Housing Bank (NHB), funded from priority sector lending short fall and fully serviced bonds, authorized by the government of India, is a welcome decision. This will help in achieving the vision of ‘Housing for all by 2022’,” Niranjan Hiranandani, president of Naredco, said. Thinkstock
Benefits Under CLSS
1. Upfront subsidy of 6.5% for EWS and LIG for loans up to Rs 6 lakh
2. Interest subsidy of 4% on home loans up to Rs 9 lakh for MIG-I
3. Interest subsidy of 3% on home loans up to Rs 12 lakh for MIG-II
Which Component to Select?
A. If the citizen is from a slum area: ISSR (In-situ slum rehabilitation component) B. If the citizen is from a non-slum area:
1. Has land of his own and interested in construction: Beneficiary-led Construction BLC (new construction) in case existing structure is kutcha or semi-pucca; BLC (enhancement) in case existing structure is pucca and enhancement of minimum 9 sq m while maximum area after enhancement should not be more than 30 sq m
2. Can afford to construct or purchase or enhance house using housing loan: Select Credit-linked Subsidy Scheme. The citizen will get subsidy on home loan
3. Don’t have land to construct, or cannot afford home loan: Select affordable housing in partnership with Affordable Housing Fund (AHP) component
Who is Eligible?
Family — husband, wife, and unmarried children An adult earning member (irrespective of marital status) can be treated as a separate household provided he or she does not own a pucca house in his or her name A married couple, either of the spouses, or together in joint ownership, will be eligible for just one house A beneficiary family should not have earlier availed of central government’s assistance under any housing scheme
How to Apply?
If you are planning to apply under this scheme, you can register at the Common Service Centres (CSCs) facilitated by the state or UT governments by paying a registration fee of Rs 25 plus GST.
You must fill the required details like name, area, Aadhaar card number, etc. After this is done, you will receive an application number to track the status.
You can also visit the official website of the Pradhan Mantri Awas Yojana (PMAY): http://pmaymis.gov.in and apply online. Go to the Citizen Assessment option and select either Slum Dwellers or Benefit under the other three components. You must then enter your Aadhaar number and all the necessary details.
An application number will be generated once you submit the application. This number can be used to track the status of your application.
Aadhaar is Mandatory
Aadhaar is mandatory for citizens to apply online. You can get an Aadhaar number from the nearest CSC, wherein the CSC locator is available at: http://www.apnacsconline.in/csc-locator.
If there is confusion, you can contact the division in your municipality which is in charge of PMAY (U).
You can also check the list of State-level Nodal Agencies for PMAY (U) at: http://pmaymis.gov.in/pdf/User-Mannual/ SLNA_List.pdf.