What Are The Components Of Pradhan Mantri Awas Yojana And How Can One Avail It

Pradhan Mantra AwasYojana is the initiative that aims to provide affordable housing for the urban and the rural poor. Different classes of society can benefit from the different components of this scheme to get a house of their own. Below mentioned are the different components that the beneficiaries of the scheme can avail.

Credit Linked Subsidy Scheme – This is the component of PMAY that provides subsidy on the interest given for availing a home loan to those eligible for this scheme.

The Eligibility for CLSS is –

1. The member applying for the scheme should not own a house in his/her name
2. The family of the beneficiary should not have availed any advantage form any other government scheme for housing.
3. The beneficiaries should not have availed any Subsidy of PMAY from Primary Lending Institutions
4. Those who have availed the CLSS subsidy but shifted to another lender under home loan balance transfer cannot avail this scheme
5. All beneficiaries under this MIG group (both MIG 1 and MIG 2) needs to produce their Aadhaar card
6. Members under category EWS can get the complete benefit of PMAY scheme while those under MIG group can only avail the interest subsidy.

In situ development– Here the existing land of the slums are leveraged to give proper urban settlements to the slum dwellers. This initiative, along with the private sector participation, is taken to redevelop the slums in urban areas.

Affordable Housing in Partnership – The private and the public sector in participation would aim to provide affordable housing to economically weaker sections of the society. The states or Union territories can plan for the housing benefits along with any agencies or any industries.

Enhancement and construction of beneficiary led houses- This component is helpful for those who could not get the advantage of the above three components. In this component the beneficiary gets central assistance of 1.5 lakhs rupees to extend and construct their existing house. Under this scheme the houses that will be constructed will only be done with eco-friendly materials, while preference will be given to the old- aged and the disabled for the ground floor occupancy.

Ways to apply for Pradhan Mantri Awas Yojana- 

The application for PMAY can be made under two categories-

The economically weaker section of the society can apply under 3 components- Low-income group, Middle-income group or Economically weaker sections of the society. They can get benefits on the interest rate of the home loan or construct new homes.

The other category is of the slum dwellers who are staying in the unhygienic and poorly built settlements. They would be provided with re-construction of the existing property with proper sanitation facility, clean and healthy access to water and better residents.

Ways to apply online-

1. Visit online website for Pradhan Mantri Awas yojana
2. Under “Citizen Assessment” select the benefit under the 3 components
3. Enter your name and 12 digits Aadhaar card number
4. After your Aadhaar card verification is done, you will be redirected to the PMAY application page
5. Enter the personal details that are required
6. Tick the checkbox below saying- (I am aware of…)
7. Enter the captcha and then save
8. On clicking “save,” you will get a reference number that should be kept for future reference
9. Download the application form and print it
10. Submit the form at the nearest Financial institution or bank.