Pradhan Mantri Awas Yojana is one unique scheme introduced by the Government of India with an intention to provide housing facilities to individuals who are under the middle income group.
The scheme has been titled as Middle Income Groups – Credit Linked Subsidy Scheme (MIG) and the annual income of the intending borrower should be more than Rupees six lakhs and upto Rupess 18 lakhs per year. They are eligible to avail interest subsidy when they buy their first home. The interest subsidy is provided as detailed below:
- Interest subsidy of 4 percent for loans up to Rs. 9 lakhs when the income of the borrower is up to Rupees 12 lakhs
- Interest subsidy of 3 percent for loans up to an amount of Rs. 12 lakhs when the income of the borrower is up to Rupees 18 lakhs
Any Indian citizen from Low Income Groups and Middle Income Groups can apply under the PMAY scheme.
How to apply for Pradhan Mantri Awas Yojana
Individuals who are willing to avail the loan under this category should send an application online.
Steps to send application online:
The following are the steps by which the application has to be sent for availing the loan Pradhan Mantri Awas Yojana
- Click on the following link to get an entry into the website: http://pmaymis.gov.in/
- Click on the following drop-down menu – Citizen application.
- Select – For slum dwellers- in case you are living in a slum area
- Select – Benefits under other 3 components – in case you are living in areas other than slum areas
- Now you will be getting an application form and you have to fill up the necessary details in the application. Mandatory fields are to be filled up without fail
- The following are the details – Name of the state; city; Pin code Number; Name of the applicant, Name of father, Age, and date of birth of the applicant, etc.,
- The AADHAAR number and details of income are to be filled up in the application form without fail
- Once the entire details have been filled up, the applicant should submit a declaration by ticking on the relevant column
- The captcha details are to be filled in correctly without any error
- Now the application is complete in all respects
- It is better to verify the details once again and changes if any can be made before final submission
- Once the details are found correct, final submission can be made by saving the button meant for it
- Once the system accepts the details, an application serial number will be displayed on the screen and the number has to be noted without fail
- The status of the application can be checked using the application number and the application can also be downloaded in the system and a printout can be taken for future verification