pradhan mantri awas yojana

Real Estate Housing Scheme: Ever since its launch, the Pradhan Mantri Awas Yojana (PMAY) has been creating a buzz. It is an initiative introduced by the Indian government to provide affordable housing for all by 2022.

While many are aware of the scheme and have also made use of the same, many don’t know the scheme’s benefits and features and have many doubts. And to help you with exactly that, this blog will be a complete guide to answer all the possible queries regarding the Pradhan Mantri Awas Yojana.

What is PMAY Scheme?

The Central Government’s flagship scheme, Pradhan Mantri Awas Yojana (PMAY), aims to provide affordable housing for all by the year 2022. It is a credit-linked subsidy scheme that promises to build pucca houses and reach more than 30 million people in the rural areas and more than 18 million people in the urban areas by 2022. ‘Pradhan Mantri Awas Yojana Housing for all’ is the plan that the scheme aims to fulfill. Launched in 2015 by PM Narendra Modi, PMAY is being brought out in phases and completed by 2022.

Types of PMAY Scheme

Two types of Pradhan Mantri Awas Yojana catering to India’s urban and rural population. Here are the two classifications of the PMAY scheme:

Pradhan Mantri Awas Yojana Gramin/Rural (PMAY-G)

pradhan mantri awas yojana gramin
source: qrius.com

Pradhan Mantri Awas Yojana Gramin aims at making housing affordable for the rural poor. PMAY-G was earlier known as Indira Gandhi Awas Yojana, which was later changed to Pradhan Mantri Awas Yojana Gramin in 2016. 
Under this scheme, homeless people and those living in crumbling houses can gain financial assistance to build pucca houses with basic amenities, such as sanitation, power supply, etc.

Pradhan Mantri Awas Yojana Urban (PMAY-U)

pradhan mantri awas yojana urban
Source: mldllifespacebucket01.s3.amazonaws.com

The Pradhan Mantri Awas Yojana Urban aims to fulfill the urban poor’s housing needs. There are approximately 4,331 cities and towns that come under this scheme. The scheme is classified into 3 stages:

  • Phase 1: This phase covers 100 cities in select UTs and states between April 2015 – March 2017;
  • Phase 2: It covers 200 more cities from April 2017 – March 2022;
  • Phase 3: Phase 3 covers the rest of the cities from April 2019 – March 2022. 

The Ministry of Housing and Urban Poverty Alleviation has the flexibility to include more cities in these phases based on the demand from states and UTs.

Pradhan Mantri Awas Yojana Benefits

The main benefits and features of the Pradhan Mantri Awas Yojana scheme are as follows:

  • The individual gets a subsidized interest rate of 6.50% per annum on taking a home loan for up to 20 years of the loan term. 
  • Nearly 3% – 4% interest subsidy is provided to the MIG section for home loans to buy or construct a house.

Pradhan Mantri Awas Yojana Eligibility 

The first and foremost step is to check whether you are eligible to apply for the scheme. Here are a few eligibility criteria that you need to meet:

Economically Weaker Section (EWS)

The EWS consist of those who have an annual income of fewer than 3 lacs. The beneficiary will be required to provide relevant proof to support their application to benefit under this scheme. 

Low Income Group 

A household income between 3 – 6 lacs falls under the low-income group (LIG). Like the EWS category beneficiary, the LIG category people will also need to provide relevant income proof to support their application.


Medium Income Group (MIG1)

This group consists of those with a household income of less than 12 lacs. Applicants under this category can avail of a loan of Rs. 9 lacs. 

Medium Income Group (MIG2)

Applicants with a household income between 12 – 18 lacs come under the MIG -2 category. People under this category of Pradhan Mantri Awas Yojana (PMAY) can loan up to Rs 12 lacs.

Minority section

The minority section of the society can also benefit from owning a house under the PMAY scheme. For it, all they need to do is to provide relevant caste and income certificates.

Women

To help empower women, the PMAY scheme gives preference to women. However, there are a few basic requirements they need to meet to be eligible. 

  • The women must belong to the EWS or LIG category;
  • The applicant’s immediate family must compromise no more than a household, wife, and unmarried kids. And no one from the immediate family should own a house under their name anywhere in India. 

Pradhan Mantri Awas Yojana Credit Linked Subsidy

One of the most common questions for which people seek an answer is how to avail the Credit Linked Subsidy under the PMAY scheme. Here’s how you can do that:

  • The first and foremost step is to check if you’re eligible for the subsidy. This would require you to visit your bank or NBFC. 
  • Fill in the home loan credit-linked subsidy application form and submit it with the required details.
  • After following all the verification processes, the loan amount will be credited to your account.
  • After the amount gets credited, the lender will contact nodal agencies and start claiming the interest subsidy amount.

The interest subsidy will be credited into your account, and the loan amount gets adjusted against the monthly EMIs.

How To Apply For Pradhan Mantri Awas Yojana

After checking your eligibility, the next step is to learn about applying for the Pradhan Mantri Awas Yojana scheme. There are two ways to do that: 

  • Online – The online application is user-friendly and convenient as it helps to track the status of the application. Details of the same are available on the PMAY website (pmaymis.gov.in), created under the Housing and Urban Development Ministry.
  • Offline – To apply online, you need to visit the nearest Common Service Centre, obtain a form, fill it up and submit it.

Steps to Download PMAY Form

To fill the application form, one can download the form online by following the below-mentioned steps:

  • You can visit the Pradhan Mantri Awas Yojana website at pmaymis.gov.in.
  • The second step is to select the “Print Assessment” option from the “Citizen Assessment” menu mentioned on the homepage.
  • Now, you may access the application form by either providing your:
  • Name, Father’s Name, and Contact number.
  • Assessment ID (for citizen data record)
  • Enter the details according to your selection, and now print the assessment form.

Requisite Documents For Pradhan Mantri Awas Yojana Scheme

Here is a list of all the documents that are required for registering under the scheme.

  • As already mentioned, Aadhaar is mandatory;
  • A duly signed application form;
  • For residential and identity proof, a valid Voter ID, PAN Card, or driving license can be provided;
  • Minority community proof needs to be provided in case it is applicable;
  • Proof of nationality is also mandatory. Passport can also be used for the same;
  • Since the scheme pertains to Economically Weaker Sections (EWS), Low-Income Groups (LIG), and Middle-Income Groups (MIG), a proof of the requisite income group needs to be submitted;
  • For salaried employees: 6 month’s salary slip, and last 6 month’s bank statement, latest Form 16;
  • For self-employed individuals: A balance sheet, profit and loss account, IT returns, computation, etc;
  • Income Tax Returns of the last two years should also be provided;
  • A certificate of property valuation should also be attached;
  • There should be no pucca house under the applicant’s name. A proof of the same should be provided;
  • A home is being constructed in the applicant’s name should also be shown on paper as proof.

List of Banks Linked With Pradhan Mantri Awas Yojana Scheme

Here’s a list of top banks/NBFCs linked with the PMAY Scheme.

SBIHDFCBank Of BarodaICICI Bank
Axis Bank Karnataka Bank Ltd.Karur Vysya bank ltd.LIC Housing Finance
FullertonFederal bankKotak Mahindra BankYes Bank
Bajaj Housing FinanceIIFLIndia BullsCanara Bank

Pradhan Mantri Awas Yojana Status

The process doesn’t just end with filling up the form online. The application has to be followed up. One can keep a check by either entering the given application number in the ‘Track Status‘ feature or entering other personal details like name, father’s name, ID details, etc.
You can also keep a printout of the application for further perusal.

High Level Physical Progress Report Pradhan Mantri Awas Yojana

Points to Remember


Only certain categories, including EWS, LIG can apply for the scheme.If any of the details provided are not factual, incorrect, or misrepresented, then the home loan could be canceled, and a legal course of action against the applicant could be taken.
Any incorrect or misinformation in the income details could lead to the cancelation of loans and strict legal action on the applicant/applicants.

Also Read: Know the basic FAQs about PMAY Scheme