The Pradhan Mantri Awas Yojana (PMAY) is an initiative of the Indian government that aims to provide affordable houses to the economically weaker sections of the society. Under the scheme, eligible beneficiaries can avail a credit-linked subsidy of up to Rs. 2.67 lakh. The PMAY scheme’s mission is to provide housing for all by 2022. To avail the benefits of the PMAY scheme, you first need to qualify as a beneficiary based on your economic standing. Based on the annual income of your household, you need to fall under the economically weaker section (EWS), the lower-income group (LIG), or the middle-income group (MIG) categories.
PMAY Beneficiaries
- The annual income cap is Rs. 3 lakh for the economically weaker sections (EWS).
- The yearly income is set between Rs. 3-6 lakh for lower-income groups (LIGs).
- The yearly income cap is between Rs. 6-18 lakh for the middle-income groups (MIGs).
Components of PMAY
The Pradhan Mantri Awas Yojana (PMAY) is split into two components, namely:
- Pradhan Mantri Awas Yojana Urban (PMAY-U)
- Pradhan Mantri Awas Yojana Gramin (PMAY-G) or Pradhan Mantri Awas Yojana Rural (PMAY-R).
Eligibility Criteria for PM Awas Yojana
To be eligible for a PMAY subsidy, you need to make sure you qualify for the scheme.
- Eligible beneficiary (family) should not own a pucca house in India under the name of any family member.
- To be eligible, the beneficiary family should not have previously availed any government housing scheme in India.
- Married couples, either one of the spouses, or joint ownership are eligible for the PMAY subsidy.
Document Required for PMAY
- Proof of Identity such as Aadhaar/PAN card, Voter ID, Driver’s License, Passport, etc.
- Proof of Address such as Voter ID, Aadhaar/PAN card, Passport, latest utility bill, etc.
- Proof of income such as the latest bank statements for the last six months, salary slip for the last two months.
Additional Documents Required
- Copy of the chain of documents related to the property.
- An allotment letter/buyer agreement.
- The payment receipt as proof of payment made to the developer.
- A copy of the property sale agreement.
Procedure To Get A Home Under The Pradhan Mantri Awas Yojana
The online application process for PMAY is very simple. Given below are the steps to apply online through the portal.
Step 1: To apply, visit the online official PM Awas Yojana website at http://pmaymis.gov.in/
Step 2: Now, fill in your personal and bank account details.
Step 3: Submit your PMAY application and the same will be forwarded to the Central Nodal Agency (CNA).
Step 4: Once approved, the subsidy amount will get credited to your account.
Delay in Disbursal of Interest Subsidy
Recently, many home loan borrowers have complained of delays in receiving their PMAY subsidies. There could be multiple reasons causing this delay. It can be an information mismatch in the declared income of the borrower and the actual income. In some cases, it turns out that the borrower already owns a house under his/her name. Such reasons can lead to rejection of your PMAY application.
In the year 2020, the nationwide lockdown caused due to the pandemic led to many lenders causing a delay in filing the subsidy claim. This caused further delays in fund disbursement from the government and slowed down the loan process. The subsidy claims submitted by the lenders till the year 2019 were cleared in batches. For faster processing of applications, the government has now launched a portal – Credit Linked Subsidy Services Awas Portal (CLAP) (pmayuclap.gov.in).
CLSS Awas Portal (CLAP)
To tackle the delay in subsidy release and consequent public grievances, the Ministry of Housing and Urban Affairs, Government of India, has developed a web-based monitoring portal – CLSS Awas Portal (CLAP). The portal will help beneficiaries track their PMAY status application and receive SMS alerts. Thus, individuals will not have to visit the banks to check their application status as the entire process can now be tracked online through the portal.