pradhan mantri awas yojana application status, Eligibility, apply process [PMAY]

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).

 

 

NOTE:

1. No direct transfer to the beneficiary.
2. Extra loan amount doesn’t cover under the subsidy so you have to pay at regular interest rate.
3. Scheme valid up to below 30 Lakhs loans.
4. Renovation loan applicable for MIG 1 & 2 categories.

Eligibility:

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.

Benefits:

1. 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.
2. 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.

1. visit http://pmaymis.gov.in/, click on citizen Assessment.
2. Select either slum/ dwellers or benefit under 3 other components.
3. 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

1. visit the pmaymis.gov.in or directly visit this form http://pmaymis.gov.in/Track_Application_Status.aspx.
2. Enter your Application ID  / Assessment ID Or
3. 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

calculate here

 

Documents Required for PMAY

1. Aadhaar card mandatory
2. Income Proof IT Returns / salary slips
3. Lower income certificate
4. Proof to show that applicant does not have pucca house.
5. 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)

ex:

Total Loan Amount (in Rs.)	600,000.00
Rate of Interest	9.00
Total Loan Period (in Months)	240
Number of EMIs	240
Subsidy Amount	220,187.05

 

 

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.