Pradhan Mantri Awas Yojana is a government initiative aimed at facilitating affordable housing for every citizen of India by 2022. Eligible applicants can use this benefit to construct a home, purchase a new one from a builder or upgrade their existing kaccha house to a pucca house.
With the introduction of PMAY, more and more people have realised their dream of owning a home with the help of this affordable housing scheme.
Pradhan Mantri Awas Yojana Eligibility Criteria
The PMAY subsidy is extended for the economically weaker classes of the society, and the government of India considers the income of the entire family and not just the applicant to check eligibility of this scheme.
Based on the income category of an individual, the following criteria have been set for PMAY eligibility:
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EWS- Economically Weaker Section: An annual income of Rs. 3 lakhs or lower will qualify for the PMAY subsidy under this category.
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LIG- Low Income Group: An annual income of Rs. 6 lakhs or lower will qualify for PMAY under this category
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MIG- Mid Income Group: An annual income of Rs. 12 lakhs and below is needed to qualify for the MIG I (Mid-Income Group). For the MIG II category, income of Rs.18 lakhs and lower is the requirement.
Based on the income groups, here is the eligibility for the following PMAY subsidy scheme.
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EWS, LIG and those identified under the Below Poverty Line category are eligible for the PMAY Gramin Scheme.
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EWS, LIG and MIG I and II are all eligible for the PMAY Urban Scheme.
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LIG & MIG are eligible for PMAY CLSS scheme.
Document Required for PMAY
Identity proof documents
You need to produce identity proof documents like your PAN card copy, Aadhaar card copy, Passport copy, photo ID card if any, letter of identity proof not older than 30 days, which has been vetted by a gazetted officer, etc.
Address proof documents
For Pradhan Mantri Awas Yojana eligibility, it is mandatory to have address proof documents like Aadhaar, Passport, PAN card, Ration card copy, Electricity bill, etc. Additionally, you could also accumulate and keep these documents handy- Property tax receipt, Life insurance policy, License or Leave agreement from employers, Savings account statement from Post Office.
For applicants who fall under the SC, ST, OBC or senior citizen category, they might be asked to produce, in certain cases:
1. Proof of age – with PAN, Aadhaar, passport etc
2. Marriage certificate (if applicable)
3. Death certificate – of the spouse if a widow is applying for the PMAY scheme
Conclusion
PMAY is one of the best housing scheme initiatives from the government that aims at making home buying affordable for everyone in India. Remember to check for eligibility criteria, list of required documents before proceeding with your home loan requirements.
