The Pradhan Mantri Awas Yojana Delhi has had implementation issues in the National Capital Territory of Delhi for over 22 months; however, this issue has been resolved now. M. Venkaiah Naidu, the minister of Ministry of Housing and Urban Poverty Alleviation, with Delhi Development Authority and Delhi Urban Shelter Improvement board signed an MOU to enable the implementation. Here is a checklist of facts that you should know about the PMAY scheme.
Features of the Pradhan Mantri Awas Yojana
The features of PMAY are listed below:
- The subsidy that is permissible under the PMAY is up to 6.5% for a loan amount of 6 lakh.
- The loan amount is approved by the National housing.
- This subsidy can be availed by people who are purchasing a home for the first time.
- A woman in the family must be a co-owner of the house.
- The home construction, if applicable, should be completed in a period of 36 months.
- For beneficiaries under the economically weaker sections EWS, the carpet space shouldn’t exceed the prescribed 30 sq-mt.
- For the Lower Income Group, the carpet space should be within 60 sq-mt
- For Middle Income Group, the carpet space should be within 120 sq-mt.
The various PMAY eligibility criteria are as follows:
- The applicants of the Pradhan Mantri Awas Yojana Delhi should belong to the Lower Income Group, Middle Income Group I and II, and Economically Weaker Section.
- The age of the applicant should be less than 70 years
- The annual income of the applicant in the economically weaker section should be from INR 3 lakh to 6 lakh
- Indian resident women will be considered eligible for this scheme.
Requirements for a Beneficiary
Any applicant must meet the following in order to be a beneficiary of the Pradhan Mantri Awas Yojana scheme:
- Meet the income criteria
- Must not own a Pucca house
- Should not have previously availed any benefits from the centre for any other housing scheme under the Indian Government
- Any earning member of the family in the EWS category cannot be subsumed in the same household and should belong to a separate category.
- For married couples, both will be considered as a single entity for attaining the home loan subsidy
Benefits of Applying for the Scheme
Once the home loan subsidy is disbursed to the beneficiary, the amount will be transferred to the loan account and the principal amount will be re-adjusted as per the subsidy amount. This will bring down the Emi (Equated Monthly Instalments) for the applicant.
How Can One Apply for Pradhan Mantri Awas Yojana?
To apply for Pradhan Mantri Awas Yojana, you need to first check your PMAY eligibility from the lender. The eligible applicants can apply for the home loan and CLSS (Credit Linked Subsidy Scheme) through the PLIs in Delhi. Once the PMAY eligibility is checked by the lender, the claim is submitted to a Central Nodal Agency. This nodal agency further processes the claim and disburses the subsidy via the designated lender.