pradhan mantri awas yojana application status, Eligibility, apply process [PMAY] last date, pmay beneficiary list 2018.
Launched in 2015 by PM Narendra Modi. to provide a subsidy for urban poor people.
About: PMAY is a Credit-Linked Subsidy Scheme (CLSS). loan applicant gets 2.6lakhs for annum in the form subsidy to the loan account. if loan interest rate is 8.5% then applicant gets at 6.61%. Once the application approved under this scheme the banks forward it to National Housing Bank (NHB) and Housing & Urban Development Corporation (HUDCO).
- No direct transfer to the beneficiary.
- Extra loan amount doesn’t cover under the subsidy so you have to pay at regular interest rate.
- Scheme valid up to below 30 Lakhs loans.
- Renovation loan applicable for MIG 1 & 2 categories.
person (beneficiary) who applies for the scheme should not own a pucca house either in his or his family member’s name anywhere India.
|Category||EWS||LIG||MIG -I||MIG – II|
|Annual Income (lakhs)||3||6||6-12||12-18|
|Loan Amount||6||6||9 lakh||12 lakh|
|Loan tenure||20||20 years||20 years||20 years|
|Maximum subsidy||2.67||2.67 lakhs||2.35 lakhs||2.35 lakhs|
|subsidy Interest rate||6.5||6.5%||4%||3%|
|Actual interest rate (without scheme)||8.5%+||8.5%+||8.5%+||8.5%+|
How to apply: Now all the financial banks linked with the scheme, ask them or they automatically may suggest you.
Scheme validity: 2022.
- tax deductions According to Section 80EE ( loan amount Rs 35 lakhs or less and the value below Rs 50 lakhs) to maximum Rs 50,000 per financial year, for the home loan interest you paid.
- Get the benefit of subsidy amount indirectly. (it’s a tricky investment)
pradhan mantri awas yojana application form
there is another way to apply for PMAY scheme. all you have to do is contacting your Loan provider.
- visit http://pmaymis.gov.in/, click on citizen Assessment.
- Select either slum/ dwellers or benefit under 3 other components.
- Enter your Aadhaar Number
Then provide your contact details and are of the house, finally click on submit you will see an Application Id kindly note that to track the status.
pradhan mantri awas yojana status pmay beneficiary list
its still active up to 2020 or other government may change it. Fir checking your PMAY online Application status
- visit the pmaymis.gov.in or directly visit this form http://pmaymis.gov.in/Track_Application_Status.aspx.
- Enter your Application ID / Assessment ID Or
- By Name, Father’s Name & ID Type (Aadhar, voter etc)
and check its status. once it approved to follow the further process.
dwelling unit carpet area under mig 2
Dwelling Unit Carpet Area: Total land area including compound walls of house.
125 sq mt = 150 sq yd house 1350 sqft
30/60 sqm* 72 sqyd single bedroom
MIG 1 = 160 Sq. mt. 200 sq yd
MIG 2 = 200 Sq. mt. 240 sq yd
Documents Required for PMAY
- Aadhaar card mandatory
- Income Proof IT Returns / salary slips
- Lower income certificate
- Proof to show that applicant does not have pucca house.
- Bank statement
PMAY EMI Calculation NPV
ex: if you are income 3-6 lakhs.
then you taken 6 lakhs loan for 20 years, then
PMAY maximum discount at rate 6.5% according your income category
Total interest 6 lakhs – govt subsidy 6.5% for 20 years NPA 9% basis. (NPA net present value Calculation formula)
You visit and calculate at https://pmaymis.gov.in/EMI_Calculator.aspx
NPV Value: 6 lakhs at 6.5$ for 20 years
2.67000 govt pays as upfront (first)
|Total Loan Amount (in Rs.)||600,000.00|
|Rate of Interest||9.00|
|Total Loan Period (in Months)||240|
|Number of EMIs||240|
|Amount of loan||Rs.3 lakh|
|Loan amount eligible for the subsidy||Rs.3 lakh|
|Reduced EMI after subsidy credit||Rs.1,605|
|Savings on a monthly basis||Rs.1,290|
|Savings on an annual basis||Rs.15,480|
PMAY Scheme statics
According to the website of PMAY (U), 88.19 lakh houses have so far been sanctioned while 52.32 lakh houses are grounded for construction. 24.16 lakh houses have been handed over to beneficiaries.