Pradhan Mantri Awas Yojana (PMAY) is an initiative taken by Prime Minister Narendra Modi with an objective to provide financial assistance to Economically Weaker Section of the Society, Low Income Group (LIG) and Mid Income Group (MIG) for house purchase and construction purpose.
This scheme seeks to address the housing problem through the following broad programs:
- Slum rehabilitation
- Provision of Credit – linked subsidy for the weaker section
- Provision of affordable housing by collaborating with public and private sectors
- Beneficiary-led house construction or enhancement
Features of Pradhan Mantri Awas Yojana
- Priority will be given to senior citizens and differently abled while allotting house on the ground floor.
- Under this scheme, the house will be allotted in the name of the matriarch or in the name of jointly the male and female head of the family. Therefore, the applicants should mention the name of their mother or wife at the time of the registration.
- Government is taking a step towards creating an environmentally safe household as this scheme is taking up eco-friendly and environmental methods to build the house.
- The beneficiaries will be provided 6.5% interest subsidy on the housing loans, for 15 years.
Eligibility Criteria and Benefits for PMAY-U Beneficiaries
| Section | Eligibilty Criteria | Benefits |
| Economically Weak Section (EWS) | Annual Household Should be less than 3 lac Only Women or Women jointly with spouse can apply Applicant and Family should not own a pucca house anywhere in India |
6.5% Interest Subsidy on Home Loans upto Rs 6 Lac
Maximum Subsidy Provided will be Rs. 2,67,280
|
| Low Income Group (LIG) | Annual Household Should be in between 3 – 6 lac
Only Women or Women jointly with spouse can apply Applicant and Family should not own a pucca house anywhere in India |
6.5% Interest Subsidy on Home Loans upto Rs 6 Lac
Maximum Subsidy Provided will be Rs. 2,67,280
|
| Medium Income Group 1 | Annual Household Should be in between 6 – 12 lac
Applicant and Family should not own a pucca house anywhere in India Carpet Area of House for which loan is applied for should be less than 90 sq meter Loan should be approved on or after Jan 1st 2017 |
4% Interest Subsidy on Home Loans upto Rs 9 Lac
Maximum Subsidy Provided will be Rs. 2,35,000
|
| Medium Income Group 2 | Annual Household Should be in between 12 – 18 lac
Applicant and Family should not own a pucca house anywhere in India Carpet Area of House for which loan is applied for should be less than 110 sq meter Loan should be approved on or after Jan 1st 2017 |
3% Interest Subsidy on Home Loans upto Rs 12 Lac
Maximum Subsidy Provided will be Rs. 2,30,000
|
How to Check if you are in PMAY-U Beneficiary List
Follow the below steps to check your name in PMAY beneficiary list
- Visit the official website:http://pmaymis.gov.in/ of PMAY – U
- Look for “Search Beneficiary” option and click on “Search by Name” link in the options menu.
-
PMAY Govt Official website Beneficiary Search - Enter three letters of your name and click “show” button
PMAY search Beneficiary - After clicking the show button, a list of beneficiaries matching your name would be displayed on the screen along with survey code, fathers name, component name, city name and state name.
- You can view the complete details by clicking the beneficiary name and then entering your mobile number and verifying it with the OTP.
This social welfare program by the Government is aimed at providing shelter for all by 2022. However, the main focus will be on people who belong to the EWS and LIS categories.