Pradhan Mantri Awas Yojana (PMAY) was started by the government of India on 1st June 2015. The objective of the scheme is to provide affordable housing to the poor in urban and rural areas. People can avail of the housing loan to buy or construct a house at a subsidized rate of interest, Because it is the Credit Linked Subsidy Scheme (CLSS). The eligible candidates will get the subsidy on home loan interest rates. The Indian government has set the target until the end of the year 2022 to provide affordable housing under Pradhan Mantri Awas Yojana (PMAY).
Pradhan Mantri Awas Yojana (PMAY)
योजना का उद्देश्य शहरी और ग्रामीण क्षेत्रों में गरीबों को किफायती आवास प्रदान करना है।क्योंकि, लोग ब्याज की रियायती दर पर ऋण का लाभ घर खरीदने या निर्माण के लिए उठा सकते हैं.
Pradhan Mantri Awas Yojana scheme is divided into 2 categories:
Pradhan Mantri Awas Yojana-Key features
The key features of the scheme are as below-
- Credit Linked Subsidy Scheme (CLSS)
The beneficiaries will get a subsidy on interest rates. The maximum tenure is 20 years and the net present value is at 9% of interest subsidy. For better understanding please see the below table-
|Loan Amount||Interest Subsidy||Maximum Interest Subsidy Amount||Carpet Area|
|EWS||Upto 3 Lakh||6.5%||Rs. 267280||30 Sq. Mtr|
|LIG||3-6 Lakh||6.5%||Rs. 267280||60 Sq. Mtr|
|MIG I||6-12 Lakh||4.0%||Rs. 235068||160 Sq. Mtr|
|MIG II||12-18 Lakh||3.0%||Rs. 230156||200 Sq. Mtr|
- “IN-SITU” Slum Development using the Land as Resource
The central and state government is relocating the slums population to the house using the land as a resource. The scheme is in collaboration with private organizations. The state and UT government are deciding the beneficiary contribution to the price of the housing, which is decided by the central government. The state governments are identifying the slums and developing housing for the slums population.
- Affordable Housing in Partnership (AHP)
EWS families will get the help of 1.5 lakh from the central government. The state and UT government will do the housing development project with private organizations and agencies. The affordable housing in partnership will help the EWS families to get a house.
- Individual House Construction or Enhancement led by beneficiaries
The peoples which are not covered under the above three categories, but are under EWS categories can avail the loan. The central government will provide the financial help of a sum of Rs. 1.5 Lakh. The beneficiary can either construct a new house or can add some part in the existing house.
To complain about any problem or inconvenience that occurred after the PMAY home loan application, you can follow either the offline or online process. The government has provided a special grievance registration online form to make the process simple, speedy, and transparent to the public. Here is the description of this easy online process
- Click the link given here
- The opened page will about the complaint is new or old, click on your choice.
- Next page will ask you the details about your home loan and related query.
- Go ahead page by page by clicking on the next button then submit your complaint form.
- it will be processed very soon.
National Housing Bank(NHB) Toll-free numbers given below-
|NHB||1800 11 3377 / 1800 11 3388|