Search This Website

Tuesday, March 15, 2022

How to Get Subsidy on own house|pradhan mantri awas yojana | Subsidy Providing Bank list]

 How to Get Subsidy on own house|pradhan mantri awas yojana | Subsidy Providing Bank list]

Pradhan Mantri Awas Yojana (PMAY)

What is PMAY?

The Pradhan Mantri Awas Yojana (PMAY) is an originality of the Government of India which object at condition discount housing to the town poor by the year 2022. The scheme was first establish on 1 June 2015. The delight rate for the PMAY scheme starts at 6.50% p.a. and can be benefit for a tenure of up to 20 years.The last date for benefit the PMAY CLSS scheme for the LIG and EWS group has been expand to 31 March 2022.

Features and Benefits of PMAY Scheme

  • Below PMAY Scheme, subsidy interest rate is condition at 6.50% p.a. on housing loan for the time of 20 years to all the receiver.
  • Individually impaired and elder citizens will be given above in allocation of ground floors.
  • Supportable and eco-friendly automation would be apply for construction.
  • The scheme covers up  full town areas in the country which contain 4041 approved towns with the first preference given to 500 Class I cities. This will be done in 3 phase.
  • The credit join subsidy feature of the PM Awas Yojana gets apply in India in all approved towns from the early stages it

Pradhan Mantri Awas Yojana Beneficiaries

The receiver below the PMAY scheme can be listed as follows:

Beneficiary                                             Annual Income

Middle Income Group I (MIG I)             Rs.6 lakh to Rs.12 lakh

Middle Income Group I (MIG II)           Rs.12 lakh to Rs.18 lakh

Lower Income Group (LIG)                     Rs.3 lakh to Rs.6 lakh

Economically Weaker Section (EWS)        Up to Rs.3 lakh

In addition to these, people effect to SC, ST, and OBC group and women effects to EWS and LIG income groups will also be allowed for the PMAY scheme.

Identification and Selection of Beneficiaries under PMAY

The Pradhan Mantri Awas Yojana - Town  scheme provision mainly to the housing necessary of the urban poor. The scheme also provision to the housing requirement of slum dwellers inhabit in small areas of slums with poor infrastructure, poor sanitation and drinking facilities.

Receiver of PMAY-U mainly involve Middle Income Groups (MIGs), Low-income Groups (LIGs) and Economically Weaker Section (EWS).

While the receiver from the EWS type is allowed for complete help below the scheme, receiver from LIG and LIG types are only allowed for the Credit Linked Subsidy Scheme (CLSS) below PMAY.

In order to be allow as a LIG or EWS receiver below the Scheme, the candidate is needed to submit an affidavit as income proof to the authority.

Type of PMAY Scheme

There are two member of the PMAY scheme which are divided on the base of the area on which they direct:

1. Pradhan Mantri Awas Yojana Gramin - The Pradhan Mantri Awas Yojana – Gramin (PMAY-G) was formerly known as the Indira Awas Yojana and was name as PMAY-G in 2016. The scheme is aimed at the supply of discount  and reachable housing units to allowed receiver in rural regions of India (excluding Chandigarh and Delhi). Below this scheme, the Government of India and the personal state governments share the cost of development of housing quantity in the ratio of 60:40 for plain regions and 90:10 for North-Eastern and hilly regions.

2. Pradhan Mantri Awas Yojana Urban - The Pradhan Mantri Awas Yojana – Urban (PMAYU), as the name submit, is determined around the urban areas in India. At current, there 4,331 towns and cities which are join under this scheme. The scheme is set to responsibility under three various stage:

  • Stage 1: Under Phase 1, the government choose to cover 100 cities in several states and UTs over the country from April 2015 to March 2017.
  • Stage  2: Under Phase 2, the government choose to cover 200 more cities in several  states and UTs over the country from April 2017 to March 2019.
  • Stage  3: Under Phase 3, the government choose to cover the cities which have been left out in Phase 1 and Phase 2 and attain the select by the end of March 2022.

PMAY Interest Subsidy

Particulars       Interest Subsidy   Maximum Loan for Subsidy

EWS               6.50% p.a.                                 Rs.6 lakh

LIG                      6.50% p.a.                                 Rs.6 lakh

MIG -1              4.00% p.a.                                 Rs.9 lakh

MIG-2              3.00% p.a.                                 Rs.12 lakh

Pradhan Mantri Awas Yojana Subsidy Calculator

Pradhan Mantri Awas Yojana scheme goal to popularize the process of purchasing a home for the urban poor and sickly sections of society around EMIs at proper rates of interest. The rate of interest is around much lower than business rates, thus offering people subsidised loans.

To calculate the EMI log on to the Pradhan Mantri Awas Yojana website and fill up in the following feature:

  • The total loan amount in rupees
  • The rate of interest
  • The total loan period in months

One time the following feature are submitted, click on the ‘Calculate’ option. This will present you the monthly installment or EMI payable in rupees.

No comments:

Post a Comment