Do You Know About PMAY And Its Eligibility Criteria Tracking Process?

The Pradhan Mantri Awas Yojana (PMAY) is an ambitious housing scheme of the Central Government initiated by PM Narendra Modi in 2015. 

If you don’t have any pucca home anywhere in India, you have the required PMAY eligibility to apply. 

You and your family’s annual income should also be up to Rs.18 lakh to apply. Tracking the PMAY eligibility is also easier. 

Let’s check out this post!

A quick look at the PM Awas Yojana eligibility norms 

1. You can land on the PMAY website, where there is a pre-declared PMAY status list. You can search for your name in it using your Aadhaar number on the ‘Search Beneficiary’ tab. And doing this will let you know your PMAY eligibility. 

2. Once done, you can apply for Pradhan Mantri Awas Yojana in Maharashtra or elsewhere on the official portal. Download the form from the ‘Citizen Assessment’ tab, fill in the details asked for and attach documents proof. 

3. Now, you can apply for the Pradhan Mantri Awas Yojana with a lender and attach your PMAY form with it. You can always apply for a large amount above the subsidized amount of up to Rs.12 lakh. The only thing is that you won’t get subsidy benefits on an amount more than the figure. The non-subsidized home loan amount will be given at a higher rate. Post this, your housing loan application is processed, verified and checked along with the PMAY status. If everything is good to go, you will get the subsidized part of the home loan credited to your bank account. It will be available under the Pradhan Mantri Awas Yojana scheme by the Government within 3-4 months. 

Based on your income groups, you will be able to enjoy an interest subsidy of up to 6.5% to an amount of up to Rs.2.67 lakh. 

This way, you can save big and start paying lower EMIs.      

Read Also: Important Pointers to Note About Pradhan Mantri Awas Yojana  

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Facts to Know About PMAY Subsidy Scheme

PMAY or Pradhan Mantri Awas Yojna is a scheme introduced by India's government to offer affordable houses to the economically weaker sections by 2022. This scheme is primarily divided into two sections - Urban and Gramin. 

Under PMAY urban scheme, eligible candidates are divided into three categories, namely -

• Economically weaker section

• Low Income Group (LIG)

• Middle Income Group I and II (MIG I and II)

Individuals belonging to these categories can use the PMAY calculator to determine the exact subsidy amount they are eligible to avail by entering necessary details like loan amount and tenor. 

What is the goal of the PMAY scheme?

This Credit Linked Subsidy Scheme (CLSS) aims for -

• Slum redevelopment using the support of the private sector and by employing land as a resource.

• Offering home loan to eligible candidates for house construction at a low-interest rate.

• Providing a weaker section with affordable houses under private and public sector partnership.

Eligibility criteria for PMAY 

Interested individuals need to fulfil specific PMAY eligibility parameters to make a successful application.

• An eligible candidate mustn't possess a pucca house in any part of the country.

• He/she shouldn’t avail any credit under other existing housing schemes offered by central government.

• Ideally, individuals with an annual income of up to Rs.18 lakh can apply for this PM Awas Yojana.

An individual complying with the above-mentioned criteria needs to fill an application form on the official website. After submitting details, he/she will receive an application number which is crucial for checking the name on PMAY list.

How to check the PMAY list?

An applicant can check his/her name on the PMAY list by following these steps-

• Log in to the official site and select the beneficiary tab.

• Fill in details like Aadhaar number and redirect to the next page.

• Select the ‘submit’ option to view the selection and application status.

Individual’s without an Aadhaar card can use their assessment ID to view their PMAY status. They have to select the PMAY’s track application status page and enter personal details to view the same.

For the PMAY Gramin list, individuals need to open the designated website and fill in the registration number for details. However, if the registration number is amiss, clicking on the ‘search beneficiary details’ option will be helpful. 

Must Read: Know How to check PMAY List

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