Having a house is a basic necessity for every human being. Even an adequately earning person struggles to buy a house throughout his life. To ease the burden of buying a house, the central government launched Pradhan Mantri Awas Yojana. Any PMAY beneficiary can benefit from this housing scheme in obtaining a residence of their own.
In 2022, when our country will complete 75 years of independence, PMAY targets to provide houses to all the eligible beneficiaries by then.
What is PMAY?
Our Prime Minister Narendra Modi launched Pradhan Mantri Awas Yojana (PMAY) on 25th June 2015. It is a government-funded scheme that focuses on providing housing to all.
PMAY brings the dream of owning a house within reach of weaker sections of our society. Under PMAY, an eligible PMAY beneficiary will receive an interest subsidy on a housing loan.
PMAY was launched in three phases.
In phase 1, PMAY covered 100 cities from April 2015 to March 2017.
In phase 2, PMAY covered 200 more cities from April 2017 to March 2019.
In phase 3, PMAY is planning to cover the remaining cities from April 2019 to March 2022.
PMAY covered urban as well as rural areas in two different schemes, namely PMAY Rural and PMAY Urban.
PMAY Urban was the first housing scheme launched by Prime Minister Narendra Modi on 25th June 2015. The Ministry of Housing and Urban Affairs (MoHUA) is held in charge of implementing PMAY Urban.
Any person on the PMAY beneficiary list is eligible for an interest subsidy under Credit Linked Subsidy Scheme (CLSS). CLSS aids Economically Weaker Section (EWS), Low Income Group (LIG), Middle Income Group-I (MIG-I), and Middle Income Group-II (MIG-II) in housing loans.
After the launch of PMAY Urban, the government started addressing house scarcity in rural areas.
Finally, PMAY Rural came into effect in April 2016. The main objective of PMAY Rural was to provide a house with basic facilities to all the houseless residents in rural areas.
The main objective of PMAY rural was to make 1 crore houses in 3 years. PMAY beneficiaries were encouraged to use the local material, design, and masons to support the local system.
PMAY Beneficiary List
PMAY works to provide housing for all. Therefore, any person who owns a house is not eligible for PMAY benefits. However, there are certain peculiarities with PMAY guidelines.
● Husband, wife, unmarried son, and daughter are considered as one family.
● If the children start earning, then they are considered as a different household.
● Children must not own a house in any part of the country.
On the outline, the PMAY beneficiary list consists of EWS, LIG, MIG-I, and MIG-II households. Each section can avail of different benefits from the PMAY scheme.
● Economic weaker section (EWS):
People from EWS have an annual income of up to 3 lakhs. Beneficiaries from this section can get complete assistance in making a house.
EWS can take a loan of up to 6 lakhs rupees on an interest subsidy rate of 6.5% per annum. The maximum home loan tenure for housing loans is 20 years.
PMAY also offers a subsidy amount of 2.67 lakhs.
● Low Income Group (LIG):
People with an annual income of 3 to 6 lakhs per annum fall into this section. Beneficiaries from this section are eligible for benefits on housing loans under CLSS.
The LIG section is eligible for a housing loan of 6 lakhs rupees. The maximum amount of subsidy offered is 2.67 lakhs rupees.
● Middle Income Group-1 (MIG-1):
People with an income of 6 to 12 lakh rupees per annum come under MIG-I. In the PMAY beneficiary list, the MIG-I section can take a housing loan of 9 lakhs.
Beneficiaries from MIG-I have a lesser interest subsidy on housing loans i.e. 4.0%. Also, the amount of subsidy offered is just 2.35 lakh rupees.
● Middle Income Group-2 (MIG-2):
According to the PMAY beneficiary list, people with an annual income of 12 to 18 lakhs gas into this section.
People from MIG-2 are eligible for a housing loan of up to 12 lakhs rupees. However, the interest subsidy rate is 3.0%, and the maximum subsidy amount is only 2.35 lakhs.
● SC/ST, Minorities, and others:
Within these neglected sections of the society, housing is provided priority-wise. Housing deprivation is analyzed by the number of rooms they are living in.
Houseless families or families that live in fewer rooms are prioritized over any household that is living in a higher number of rooms.
The position of a PMAY beneficiary is verified on a local level by Gram Sabha. Suppose the PMAY beneficiary has already built a house under any government scheme, migrated, or died. In that case, the Gram Sabha deletes the name of that household from the PMAY beneficiary list.
PMAY Beneficiary Status
The official website of PMAY can be referred to check the status of your application. Any PMAY beneficiary can check their PMAY beneficiary status by the official website of PMAY.
To track the status of your application, you can enter your Assessment ID or PMAY beneficiary details.
Pradhan Mantri Awas Yojana is a huge success in urban as well as rural areas. Over 97 lakh houses have been built since 2015. House is one of the essential commodities. The central government is fulfilling the dream of every citizen of owning a house.