Pradhan Mantri Awas Yojana is an initiative undertaken by the central government in order to offer affordable housing solutions to people belonging to economically weaker sections or lower as well as middle income groups.
In order to offer faster completion, this big project has been classified into the following categories.
PMAY Urban: This will enable the residents coming from economically weaker sections or lower income group and middle income group to get permanent houses instead of the temporary housing. This is focused on the congested slum areas of the city.
PMAY Gramin: This scheme is for people living in rural areas. People owning a house that involves construction or those living on rent can apply for the scheme.
The PMAY scheme involves two key features such as affordable permanent housing and CLSS or credit linked subsidy scheme on loans. The CLSS on loans can be availed for extension, improvement and construction of present houses.
Mentioned below are the eligibility criteria for CLSS:
- The beneficiary should not own a permanent house in his/ her name or even no one from the family should own a permanent house in any part of India.
- If married, either of the spouse or both of them will be eligible for single subsidy.
- The beneficiary should not have any past record of availing the assistance of central government under any housing scheme.
Under CLSS, the beneficiary family will include husband, wife and unmarried children. In case of middle income group, if an adult is an earning member of the family, irrespective of his/her marital status, can be treated as a separate household.
Another important fact that needs to be considered is that the subsidy on interest rate will be available for twenty years at the most or the loan tenure whichever is lower. Also the affordable housing property for middle income group in six metros should be less than INR 65 lakhs and INR 50 Lakhs in non- metros.
Eligibility Criteria for Pradhan Mantri Awas Yojana
- EWS or economically weaker section: This section includes individuals who earn an annual household income below INR 3 Lakh. But, an applicant claiming to be from EWS should provide pertinent proof to the government.
- LIG or Light Income Group: This section includes individuals who earn an annual household income between INR 3 lakh to 6 lakh.
- MIG1 or Medium Income Group: This section includes individuals who earn an annual household income under INR 12 lakh. They can avail loans of up to INR 9 lakh for residence construction.
- MIG2 or Medium Income Group: This section includes individuals who earn an annual household income between INR 12 to 18 lakh. They can avail loans of up to INR 12 lakh.
Apart from all these, people coming from minority groups such as ST / SC/ OBC are eligible for PMAY scheme but they will need to provide relevant income and caste certificates. Also women belonging to EWS or LIG categories are eligible for Pradhan Mantri Awas Yojana scheme.
In order to book a flat under PMAY project in Ghaziabad, you can check for websites developing affordable housing projects.