PRADHAN MANTRI AWAS YOJANA EXPLAINED

The Pradhan Mantri Awas Yojana (Urban) Mission launched on 25th June 2015 and now extended to the year 2021 intends to provide housing for all in urban areas by the year 2022.

Offering Central Assistance to the implementing agencies through States/Union Territories (UTs) and Central Nodal Agencies (CNAs) for providing houses to all eligible families/ beneficiaries against the validated demand for houses for about 1.12 crore rupees with the size of a house for Economically Weaker Section (EWS) could be up to 30 sq. mt. carpet area, however, States/UTs have the flexibility to enhance the size of houses in consultation and approval of the Ministry.

Under the verticals of PMAY (Urban), which is a basket of options is adopted to ensure inclusion of a greater number of people depending on their income, finance and availability of land through following four options.

AM I ELIGIBLE FOR PRADHAN MANTRI AWAS YOJANA?

If you are wondering if you will be eligible under this mission when all the below conditions are met:

• The beneficiary family to avail the benefits of the scheme should not own a pucca house (an all-weather dwelling unit) either in his/her name or in the name of any member of his/her family in any part of India.

• It is also important that the beneficiary family should not have availed of central assistance under any housing scheme from the Government of India/State government.

• If you have not have availed any PMAY – CLSS subsidy from any of the Primary Lending      

• Institutions ('PLI'), then you are eligible.

• If you are a part of any of Statutory Towns as per Census 2011 and towns notified subsequently, you would be eligible for coverage under the Mission.

• The construction/extension for which the loan is availed must be completed within 36 months from the date of the disbursement of the 1st instalment of the loan amount.

ADDITIONAL CRITERIA FOR LIG/EWS CATEGORY ONLY

The houses constructed/acquired with central assistance under the Mission should be in the name of the female head of the household or the joint name of the male head of the household and his wife, and only in cases when there is no adult female member in the family, the house can be in the name of the male member of the household.

PRADHAN MANTRI GRAMEEN AWAS YOJANA

The Grameen or rural aspect of the Housing For All mission, the Pradhan Mantri Gramin Awaas Yojana (PMGAY) is revamped version of Indira Awaas Yojana (IAY). The social welfare flagship programme, created by the Indian Government, to provide housing for the rural poor in India.

Its urban version PMAY was launched in 2015 as Housing for All by 2022 while the Indira Awaas Yojana was launched in 1985 by Rajiv Gandhi, the Prime Minister of India, as one of the major flagship programs of the Ministry of Rural Development to construct houses for BPL population in the villages.

FEATURES OF THE PRADHAN MANTRI GRAMEEN AWAS YOJANA

• FINANCE FOR CONSTRUCTION OF HOUSES: Under the PMGAY scheme, financial assistance worth ₹120,000 (US$1,700) in plain areas and ₹130,000 (US$1,800) in difficult areas (high land area) is provided for construction of houses.

• ADDED FACILITIES: These houses are equipped with facilities such as toilet, LPG connection, electricity connection, and drinking water [convergence with other schemes e.g. Swachh Bharat Abhiyan toilets, Ujjwala Yojana LPG gas connection, Saubhagya Yojana electricity connection, etc.].

• WOMEN ORIENTED MISSION: The houses are allotted in the name of the woman or jointly between husband and wife, while the construction of the houses is the sole responsibility of the beneficiary and engagement of contractors is strictly prohibited.

• ADDITIONAL FINANCIAL ASSISTANCE: Sanitary latrine and smokeless chullah are required to be constructed along with each IAY house for which additional financial assistance is provided from "Total Sanitation Campaign" and "Rajiv Gandhi Grameen Vidyutikaran Yojana" or now the Deen Dayal Upadhaya Gram Jyoti Yojana ) respectively. This scheme, operating since 1985, provides subsidies and cash assistance to people in villages to construct their houses, themselves.

PRADHAN MANTRI AWAS YOJANA LOAN

Loans under the scheme lead to the PMAY benefits which can be availed if one wishes to acquire a new house from the developer or the builder and even for buying a house from the secondary market through repurchase. Under PMAY, one may also take a loan for the construction of the house.

But what if someone already owning a home wants to avail PMAY benefit? Well, interestingly there's still a possibility.

The government has clarified that the Mission (Housing for All by 2022) also provides for enhancements/ incremental housing to the existing 'pucca' house (or a house which is built with bricks) under the CLSS component.

Thus, a home loan provider cannot decline or not entertain an applicant seeking a home loan for the addition of a room, kitchen etc to the existing dwellings solely on the ground that the applicant is already possessing a pucca house

PRADHAN MANTRI AWAS YOJANA BENEFIT

This subsidy calculator is how much benefit one will get you can visit to: https://pmayuclap.gov.in/content/html/Subsidy-Calc.html