Latest News on Pradhan Mantri Awas Yojana 2024
PM Modi Inaugurated 1.31 Lakh Housing Units in Gujarat on February 10, 2024
Prime Minister Narendra Modi, on February 10, 2024, inaugurated around 1.31 Lakhs housing units in Gujarat under the Pradhan Mantri Awas Yojana Scheme (PMAY). The PM also attended the Bhoomi Pujan of around 1,31,454 housing units. The entire event was attended virtually by the PM.
Among all the states implementing the PMAY scheme, Gujarat is one of the top states. In the present financial year, i.e. 2023-24, Gujarat has constructed around 1 Lakh housing units under the PMAY Urban category. Also, the state has made a provision to construct around 65,000 housing units for the next financial year, i.e. 2024-25.
The event was conducted at Deesa in North Gujarat. Also, Chief Minister Bhupendra Patel attended the inauguration and Bhoomipujan event. Further, the event was also attended by around 182 assembly constituencies. These include citizens from around 115 rural assembly constituencies and 67 urban assembly constituencies.
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PMAY Housing lottery Result declared for Pimpri Chinchwad region, 938 winners declared
January 23, 2024: In an exciting development, the result of the PMAY Housing lottery was declared in Pimpri Chinchwad region of Pune. Under the affordable housing lottery scheme, 938 applicants were declared winners of PMAY flats. Deputy Chief Minister Ajit Pawar was also present at the ceremony.
The PMAY flats available under the scheme are in the Pimpri and Akurdi areas. A total of 11287 applicants had applied for the affordable PMAY flats in Akurdi and Pimpri. While the Pimpri project has 370 PMAY flats, Akurdi has 568 flats under the scheme. The Pimpri Chinchwad Municipal Corporation will promptly inform the winners about the possession timeline. The Deputy Chief Minister said that in addition to the grant provided by the Union government under Pradhan Mantri Awas Yojana, the state government provides an additional grant of Rs 1 Lakh.
J&K administration increases the Subsidy under PMAY Urban to Rs 70,326 per household
December 28, 2023: In an important decision, the Jammu and Kashmir administration has increased the subsidy amount of PMAY-U or Pradhan Mantri Awas Yojana Urban. The increase has been implemented in the Beneficiary Led Construction (BLC) mobile of the PMAYU scheme. As approved by the J&K administration, the subsidy under the BLC component of PMAYU has been increased to Rs 70,326 from the current amount of Rs 16,666.
According to the official sources, the BLC component will identify the BLC beneficiaries of the PMAYU scheme who have not completed their dwellings. In the preliminary stage, the change in the subsidy amount is expected to benefit over 26,419 households across the state. The proposal to increase the subsidy is aimed at providing additional benefits to beneficiaries of PMAY and completing the construction of their houses within the deadline of December 31, 2024.
About Pradhan Mantri Awas Yojana 2024 (PMAY)
Launched in 2015, Pradhan Mantri Awas Yojana (PMAY) is an initiative by the Government of India to provide affordable housing for economically weaker sections of society. PMAY scheme targets constructing about 20 million houses at an affordable price by 31 March 2022. The Pradhan Mantri Awas Yojana Gramin (PMAY-G) has been extended upto the December 2024. The total target of pucca houses has also been revised to 2.95 crore houses.
Since its launch, PMAY has changed the dynamics of the real estate market by significantly reducing the cost of acquiring a home for the urban poor. If you are also looking to own a home under the Pradhan Mantri Awas Yojana scheme, here’s everything you need to know PMAY (Pradhan Mantri Awas Yojana) scheme.
We've covered the PMAY eligibility criteria & parameters, subsidy calculation, how to apply PMAY online/offline, and all other information you want to understand about the PMAY housing scheme 2023-24. Let's start with the benefits of Pradhan Mantri Awas Yojana scheme or PMAY Yojana-
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PMAY Scheme: Objectives
Pradhan Mantri Awas Yojana (Pmay) scheme was initiated with the purpose of bridging the ever-widening gap between demand and supply for urban housing. Take a look at the key objectives of this scheme:
- To rehabilitate slums with the help of private developers.
- To promote affordable housing for the weaker sections through the Credit Linked Subsidy Scheme.
- To construct affordable houses in partnership with the public and private sectors.
- To provide subsidies for beneficiary-led individual house construction.
Pradhan Mantri Awas Yojana Eligibility 2024 (PMAY Eligibility)
The Ministry of Housing and Urban Poverty Alleviation defines the beneficiaries for the PMAY scheme as follows:
-
A Beneficiary can be a husband, wife, and unmarried daughters/sons
- A Beneficiary should not own a pucca house, which means the house should not be in his/her name or any other member of the family across India.
- Any adult, irrespective of his/her marital status, can be treated as a separate household altogether.
Also Read: UP law to allow Rs 5,000 stamp duty on property transfers among relatives
Beneficiaries Under PMAY Scheme 2024
The beneficiaries under the PMAY scheme primarily include the following categories-
- Middle Income Groups (MIG I) with annual income between Rs. 6 -12 Lakh
- Middle Income Group (MIG II) with annual income between Rs. 12 -18 Lakhs
- Low-income Groups (LIGs) with annual income capping between Rs. 3 -6 Lakh
- Economically Weaker Section (EWS) with an annual income capping Up to Rs. 3 Lakh
- Economically Weaker Section (EWS) with an annual income capping Up to Rs. 6 Lakh only for MMR, Mumbai, Maharashtra.
While LIG and MIG beneficiaries are eligible only for the Credit Linked Subsidy Scheme under Pradhan Mantri Awas Yojana, beneficiaries from EWS are eligible for complete assistance. The applicant needs to submit an affidavit supporting his income proof to be recognized as a LIG or EWS beneficiary under the Scheme.
Pradhan Mantri Awas Yojana Eligibility Parameters
|
Particulars |
EWS |
LIG |
MIG I |
MIG II |
|
Total household income |
Upto Rs 3 Lakhs |
Rs 3 -6 Lakhs |
Rs 6 -12 Lakhs |
Rs 12 -18 Lakhs |
|
Max loan tenure |
20 years |
20 years |
20 years |
20 years |
|
Max dwelling unit carpet area |
30 sq. m. |
60 sq. m. |
160 sq. m. |
200 sq. m. |
|
Max loan amount allowed for subsidy |
Rs 6 Lakhs |
Rs 6 Lakhs |
Rs 9 Lakhs |
Rs 12 Lakhs |
|
Subsidy |
6.50% |
6.50% |
4.00% |
3.00% |
|
Discount rate for net present value (NPV) calculation of interest subsidy (%) |
9.00% |
9.00% |
9.00% |
9.00% |
|
Max. interest subsidy amount |
Rs 2,67,280 |
Rs 2,67,280 |
Rs 2,35,068 |
Rs 2,30,156 |
How does Pradhan Mantri Awas Yojana Work?
An Illustration to help you understand-
Assume that you fall in the MIG-II category (i.e. your total household income is between Rs 12-18 Lakhs). You are planning to buy a house worth Rs 50 Lakhs. Your minimum down payment would be 20%, i.e. Rs 10 Lakhs, and you can arrange the remaining amount of Rs 40 Lakhs through a loan.
However, under PMAY 2023, MIG-2 category applicants are eligible for a subsidy of 3% on loans of upto Rs 12 Lakhs. Therefore, for the remaining Rs 28 Lakhs of the loan, you will have to pay regular (non-subsidized) interest rates to the lender.
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Pradhan Mantri Awas Yojana Subsidy Calculation (PMAY Subsidy)
As you can see from the table above, the PMAY subsidy that you are entitled to be around Rs 2.3 Lakhs. So, out of the loan amount of Rs 12 Lakhs, your PMAY Subsidy of Rs 2.3 Lakhs will get deducted, and you will be paying EMI on the balance amount of Rs 9.7 Lakhs.
In other words, the PMAY Subsidy is credited upfront to the borrower's account, which reduces the effective home loan amount and EMI amount.
What are the Main Components of the Pradhan Mantri Awas Yojana Scheme?
The government has created the following four components to ensure a maximum number of people are covered, depending on their income, finances, and availability of land.
1. Credit Linked Subsidy Scheme (CLSS) - PMAY
One of the most important considerations in India’s shortcoming in providing Housing opportunities is the limited funding and availability of houses at affordable rates. To combat this problem, the Govt. came up with the Credit Linked Subsidy Scheme (CLSS) under Pradhan Mantri Awas Yojana to recognise the need for subsidising home loans, so the urban poor could either own a house or build one.
The table will explain what’s covered under CLSS scheme.
|
Type |
Purpose of loan |
Household Income (Rs) |
Subsidy Interest |
Max. Carpet Area |
Validity |
Max. Interest Subsidy Amount |
Women Ownership |
|
EWS & LIG |
Construction/ Extension/ Purchase |
Up to Rs 6 lakh |
6.50% |
60 sq m |
2023 |
R. 2.67 lakh |
Yes |
|
MIG -1 |
Construction/ Purchase |
Rs 6-12 lakh |
4.00% |
160 sq m |
2019 |
Rs. 2.35 lakh |
No |
|
MIG -2 |
Construction/ Purchase |
Rs 12-18 lakh |
3.00% |
200 sq m |
2019 |
Rs. 2.30 lakh |
No |
2. In-situ Slum Redevelopment (ISSR) - PMAY
The In-situ Redevelopment scheme aims at rehabilitating slums in association with private organisations by providing houses to people living in deprived conditions, using land as a resource.
While the respective State or UT will decide the beneficiary contribution, the prices of the houses will be determined by the Central Government
Under this scheme:
- Financial assistance of Rs. 1 lakh will be provided to slum residents eligible for this scheme to build houses
- Private investors will be selected through the bidding process (whoever offers the best price for this project)
- During the construction period, slum residents will be provided with a temporary accommodation
3. Affordable Housing in Partnership (AHP) - Pradhan Mantri Awas Yojana 2024
This scheme aims at providing assistance of up to Rs. 1.5 Lakh on behalf of the Central Govt. to families that come under EWS for purchasing and constructing houses. The State/UT can associate with either Private organisations or agencies to develop such projects.
Under this scheme:
- The state/UT shall set an upper limit price for units planned to be provided to buyers under EWS.
- Carpet area is considered for deciding the value to make the constructed houses economically affordable.
- There will be no profit margin on the homes constructed by the State/UTs without the involvement of a private party.
- In the case of private developers, the State / UTs will decide the sale price using a transparent method based on Center / State / ULB incentives.
- The central grant will be applicable only for housing projects that have 35% of the total units built for EWS
4. Beneficiary-led Individual House Construction/Enhancements (BLC) - Pradhan Mantri Awas Yojana 2023-24
This scheme applies to families under EWS who can’t avail of the benefits of the previous three schemes (CLSS, ISSR, and AHP). Such beneficiaries are likely to get financial assistance of Up to Rs. 1.5 Lakh from the Central Govt. for constructing or renovating an existing house.
Under this scheme:
- The Centre will provide unit support in plain areas between Rs 70,000 and Rs 1.20 lakh and hilly and geo-difficult regions between Rs 75,000 and Rs 1.30 lakh
- It’s mandatory to provide personal and other identity documents (relating to landing ownership) to the Under Local Bodies (ULBs)
- Residents from other slums that haven’t been redeveloped can take advantage of this policy if they own a kutcha or semi-pucca home.
- The State shall establish a program for monitoring construction progress by using geo-tagged photographs.
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How to Apply for PMAY 2024 Online @ pmaymis.gov.in?
You can apply for PMAY scheme both online and offline.Follow the steps given for Pradhan Mantri Awas Yojana Gramin online application-
The steps mentioned below would help individuals avail of the subsidies on their home loans under the PMAY scheme. The online process to apply for PMAY is mentioned below-
Step 1: Visit the official website of PMAY (Pmay gov in)
Step 2: Click on the Citizen Assessment option under the Menu tab.
Step 1: Visit the official website of PMAY (Pmay gov in)
Step 2: Click on the Citizen Assessment option under the Menu tab.
Step 3: The applicant will enter his/her Aadhar card.
Step 4: Once the Aadhar number is submitted, he/she will be taken to the application page.
Step 5: The PMAY applicant must proceed to enter all required details on this page, including income details, personal details, bank account details and other required information.
Step 6: The pmay applicants must recheck all information before submission.
Step 7: As soon as a person clicks on the 'Save' option, he/she will find a unique application number.
Step 8: You must download the filled-in application form.
Step 9: Finally, the person can submit the form at his/her nearest CSC office or a financial institution/bank offering her home loan.He/she should submit all necessary documents along with the form.
Step 4: Once the Aadhar number is submitted, he/she will be taken to the application page.
Step 5: The PMAY applicant must proceed to enter all required details on this page, including income details, personal details, bank account details and other required information.
Step 6: The pmay applicants must recheck all information before submission.
Step 7: As soon as a person clicks on the 'Save' option, he/she will find a unique application number.
Step 8: You must download the filled-in application form.
Step 9: Finally, the person can submit the form at his/her nearest CSC office or a financial institution/bank offering her home loan.He/she should submit all necessary documents along with the form.
PMAY Beneficiary List: How to find your name in PMAY List?
The Government releases an annual list of beneficiaries on the basis of SECC 2011 data. To check your name in Pradhan Mantri Gramin Awas Yojana list, take the following steps:
- Visit the PMAY beneficiary list website (Pmay gov in)
- Enter your registration number.
- Click on ‘Submit’ to view the status.
- Pradhan Mantri Awas Yojana - Gramin has been one of the most important rural development schemes initiated by the government. If you are looking to get a house under this scheme and if you are eligible, keep a track on the annual beneficiary list.
How to check Pradhan Mantri Awas Yojana Application Status (PMAY Status)?
You can take the following steps to check the status of your Pradhan Mantri Awas Yojana application:- Visit the office PMAY Track Assessment Website (Pmay gov in).
- Track the status in one of the two ways: 1. Enter your Name, Your Father’s Name, and Mobile Number. 2. Enter your Assessment ID and Mobile Number.
How to Apply for PMAY 2024 Offline?
If you wish to apply offline for Pradhan Mantri Awas Yojana (PMAY), you can directly go to any CSC office near you to get an application form. Fill in the PMAY application form and submit it right there along with other required documents.
Pradhan Mantri Awas Yojana: Documents Required
You will need the following documents to apply for PMAY scheme:
- Consent to use Aadhar information
- An affidavit stating that you (or your family members) do not own a pucca house
- Identity proof such as Aadhar card or Voter ID
- Bank account details
- Swachh Bharat Mission registration number
- Job card number - as registered under MGNREGA (Optional)
Pradhan Mantri Awas Yojana: Listed Bank
You can get a subsidized loan under the Pradhan Mantri Awas Yojana scheme from any scheduled Commercial Bank, Housing Finance Company, State Cooperative Bank, Urban Cooperative bank, Regional rural bank, or any other institution as may be identified by the MoHUA.Other Updates on PMAY 2024
PM inaugurates the largest society Built Under PMAY in Solapur
January 20, 2024: In a significant development, Prime Minister Narendra Modi inaugurated the largest residential complex constructed under the Pradhan Mantri Awas Yojana in the Solapur district of Maharashtra. This expansive society, established under the PMAY Urban initiative, saw the dedication of more than 90,000 residences to beneficiaries from the Economically Weaker Sections of society. Additionally, the Prime Minister also inaugurated over 15,000 homes constructed under the PMAY Urban scheme in the Raynagar Housing Society in Solapur.
The primary recipients of the economical residences inaugurated by the Prime Minister include individuals such as handloom workers, ragpickers, powerloom workers, bidi workers, and drivers. Furthermore, the Prime Minister initiated the distribution of the first and second installments of the PM Svanidhi scheme in Maharashtra. PMAY stands as the flagship affordable housing scheme of the Union Government, offering eligible beneficiaries access to affordable housing solutions.
Summing up Pradhan Mantri Awas Yojana (PMAY)
To summarize, the Pradhan Mantri Awas Yojana (PMAY) Scheme has enabled millions of Indians to fulfill their dream of owning a home. Through the PMAY list and online beneficiary status, individuals can verify the status of their home loan under PMAY. The government releases the PMAY beneficiary list to facilitate easy access for citizens to check their names online.
Also Read: Over 2 crore houses to be constructed under PMAY-G in next 5 years
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Ans 1. Visit PMAY official website for PMAY beneficiary list. 1. On the website, from the 'Select Beneficiary' download box you select 'Request by name'. 2. Enter your adhaar card number. 3. If the Adhaar number is in the register, you can see the beneficiaries.
Ans 2. 1. Visit PMAY official website. 2. Select 'Citizen Assessment' from the menu. 3. Select the 'Track Your Assessment'state. 4. Choose search options: name, name of the father, type of ID, or evaluation id. 5. Enter mobile number, State, city, district, father name, ID type, ID number. 6. By entering assessment ID and enrolling cellphone number, you can check the PMAY application status
Ans 3. 1. Visit pmaymis.gov.in. 2. Choose 'Citizen Assessment' and click any option between 'Benefits in other three components' and 'For slum residents.' 3. Enter your aadhar card details. 4. You are redirected to the application page where the PMAY online application form has been filed. Your name, bank account, annual income information, contact specifics, & other specifics are required. 5. Click 'Save' and enter a captcha code. 6. Now, you can download it for future reference and print it.
Ans 4. If you are eligible for the PM Awas Yojana Scheme and submit the application, the bank will obtain the PMAY Subsidy benefits from the National Housing Bank. The subsidy will be paid to the bank of the requester once it has been confirmed. The money is then passed on to the loan account.
Ans 5. The PMAY Urban or Pradhan Mantri Awas Yojana is December 31, 2024.
Ans 6. Families with annual revenues between INR 3 and 18 lakhs shall be eligible. The applicant or any other family member should not have a pucca house in any area of the country. Check here the complete details of