How to Apply for Affordable Housing Under PMAY Scheme 2023
Affordable housing is a dream for many, and the Pradhan Mantri Awas Yojana (PMAY) provides a pathway to make this dream a reality. If you’re wondering how to apply for the affordable housing scheme offered by PMAY, this guide will walk you through the process.
Eligibility and Subsidy under CLSS of PMAY: How to Apply for Affordable Housing Under PMAY Scheme 2023
PMAY’s Credit-Linked Subsidy Scheme (CLSS) offers various categories for individuals to avail themselves of its benefits. There are four main categories based on annual household income:
- Economically Weaker Section (EWS): Household income up to Rs 3 lakh.
- Low-Income Group (LIG): Household income up to Rs 6 lakh.
- Middle-Income Group (MIG-I): Household income up to Rs 12 lakh.
- Middle-Income Group (MIG-II): Household income up to Rs 18 lakh.
EWS and LIG applicants seeking housing loans from banks or housing finance companies qualify for an interest subsidy at a rate of 6.5%, or during the loan tenure, whichever is lower. The interest subsidy is credited to the loan account, effectively reducing housing loan EMIs.
Benefits under CLSS: How to Apply for Affordable Housing Under PMAY Scheme 2023
- Upfront subsidy of 6.5% for EWS and LIG: Available for loans up to Rs 6 lakh.
- Interest subsidy of 4% for MIG-I: Applicable to home loans up to Rs 9 lakh.
- Interest subsidy of 3% for MIG-II: Available for home loans up to Rs 12 lakh.
Choosing the Right Component: How to Apply for Affordable Housing Under PMAY Scheme 2023
A. For citizens from slum areas: Choose ISSR (In-situ slum rehabilitation component).
B. For citizens from non-slum areas:
- Own land and interested in construction: Opt for Beneficiary-led Construction BLC (new construction) for kutcha or semi-pucca structures, or BLC (enhancement) for pucca structures with a minimum 9 sq m enhancement, capped at 30 sq m.
- Afford to construct or purchase with a housing loan: Select Credit-linked Subsidy Scheme. This provides a subsidy on the home loan.
- Don’t have land or can’t afford a home loan: Choose affordable housing in partnership with the Affordable Housing Fund (AHP) component.
Eligibility Criteria: How to Apply for Affordable Housing Under PMAY Scheme 2023
- The family, including husband, wife, and unmarried children.
- An adult earning member can be treated as a separate household if they don’t own a pucca house.
- A married couple, either spouse or together, qualifies for just one house.
- The beneficiary family should not have previously availed central government assistance under any housing scheme.
How to Apply for Affordable Housing: How to Apply for Affordable Housing Under PMAY Scheme 2023
To apply for affordable housing under PMAY, follow these steps:
- Register at Common Service Centres (CSCs) facilitated by state or UT governments, paying a registration fee of Rs 25 plus GST.
- Provide necessary details like name, area, Aadhaar card number, etc.
- After registration, you’ll receive an application number to track your status.
- Alternatively, visit PMAY’s official website: http://pmaymis.gov.in and apply online. Choose either Slum Dwellers or one of the other three components. Enter your Aadhaar number and required details.
- An application number will be generated upon submission, which can be used to track your application.
Aadhaar is Mandatory
Aadhaar is a mandatory requirement for applying online. If you don’t have an Aadhaar number, you can obtain one at the nearest CSC. Find the CSC locator at http://www.apnacsconline.in/csc-locator. For further assistance, contact your municipality’s PMAY division.
Make your dream of affordable housing a reality by following these steps and applying for PMAY’s housing scheme.