Pradhan Mantri yojana housing scheme:
Pradhan Mantri Awas Yojana (PMAY) is a credit-linked subsidy scheme by the Government of India to facilitate access to affordable housing for the low and moderate-income residents of the country
PMAY was introduced in 2015
PMAY, or the PM Awas Yojana, is a government scheme that focuses on providing housing for all by 2022.
In August 2022, the Union Cabinet approved continuation of PMAY-U up to 31st December 2024 with all verticals, except CLSS(credit - linked subsidy scheme), for the completion of already sanctioned houses till 31st March 2022. All houses under PMAY-U have basic amenities like toilet, water supply, electricity and kitchen.
| Best Builder properties in Chennai |
Eligibility:
The PMAY scheme provides an interest subsidy of up to 6.5% on home loans through four CLSS(Credit Linked Subsidy Scheme) categories – EWS, LIG, MIG I, and MIG II
EWS (Economically Weaker Section):
The economically weaker section (EWS) is the section of the society in India that belongs to the un-reserved category and has an annual family income of up to 3 lakh rupees. This category includes people that do not belong to the caste categories of ST/SC/OBC
LIG (Low Income Group):
It includes people who belong to a household that earns an annual gross income of Rs 3 lakh to Rs 6 lakh.
MIG, MIG I and MIG II (Middle income Group):
Pradhan Mantri Awas Yojana eligibility for MIG -I, MIG-II. The annual household income of the applicant must be Rs 6 lakh - Rs 12 lakh for Middle Income Group-I (MIG – I) and Rs 12 lakh - Rs 18 lakh for MIG-II.
*People who are buying their first house are only eligible*
*People who are getting benefits from central government (related to housing ) will not be eligible for the scheme PMAY*
Conditions:
| EWS | LIG | MIG I | MIG II |
|---|---|---|---|
| UPTO 3 lakh income | UPTO 3- 6 lakhs | UPTO 6 - 12 lakhs | UPTO 12 - 18 lakhs |
| Subsidy up to 6.5% | Subsidy up to 6.5% | Subsidy up to 4% | Subsidy up to 3% |
| Highest amount can be get as subsidy Rs 2,67,280 | Highest amount can be get as subsidy Rs 2,67,280 | Highest amount can be get as subsidy Rs 2,35,068 | Highest amount can be get as subsidy Rs 2,30,156 |
| Your carpet area can be max 30 sqm | Your carpet area can be max 60 sqm | Your carpet area can be max 160 sqm | Your carpet area can be max 200 sqm |
DOCUMENTS NEEDED:
1.Any photo id proof
2.Address proof
3.Income certificate
4.Property details
5.Family detail
6.Loan sanction letter
7.Loan tenure should be below 20 years
HOW TO APPLY ?
Through online and offline mode is available
Offline through CSC(COMMON SERVICE CENTER) is available.
Latest Update in PMAY:
- The area should be 25 sqm or below
- Subsidy amount 2.75 lakh
- 60% of Amount Provided by central government and 40% by state government
*If your buying a house at urban area with in the price of 20 lakh to 50 lakh then the loan amount up to 3-6.5 % amount is given as subsidy*
The subsidy amount has been given by 4 part amounts:
1.After completion of basement
2.After completion of sill level(up to window)
3.After concreting or roofing
4.At the time of plastering
*The amount 2.75 lakhs(approx) will also given as material*
For example if you are buying a house for 50 lakhs + interest then the government will provide subsidy up to 6.5% up to the total amount.
*The tenure should be below 20 years*
*Up to 25 lakh family will get benefit*
To Best Builder properties in Chennai...
