Pradhan Mantri Awas Yojana Gramin was launched by PM Narendra Modi in his last term. It is a central government-run scheme, under which the goal is to offer pucca homes to as many households as possible by 2024 in rural areas.
Under this scheme, the federal government offers cash support for the construction of pucca homes featuring all basic facilities like electricity supply and sanitation.
Pradhan Mantri Awas Yojana Gramin Overview
Name of the scheme
|Pradhan Mantri Awas Yojana Gramin|
|PM Narendra Modi|
|BPL Family and others|
|Offers cash support for the construction|
Benefits of PMAY-G 2023
In PMAY-G, you’ll be able to take a mortgage of 6 lakh rupees at an interest rate of as much as 6.5 % yearly. The minimal size of the home should be 25 square meters with all basic facilities such as power supply and clean cooking space.
CLSS or credit linked subsidy is given under this scheme. If you want more than this to build a home, then you’ll have to take a loan with the normal interest rate on that additional quantity.
Now that there are many calculators on the online web site, you can also calculate the monthly installment in accordance with your home loan amount and rate of interest.
How a lot benefit
- Annual Income: Rs 6 Lakh
- Most loan amount: Rs 6 lakhs
- Subsidy: 6.5 %
- Mortgage amount: 6 lakh rupees
- Rate of interest: 9 %
- Monthly EMI: Rs 5398
- Total interest in 20 years: 6.95 lakh rupees
- NPV will be Rs 2,67,000 after subsidizing your interest at 6.5 % subsidy. Based on this, your PMAY mortgage actually turns into Rs 3.33 lakh instead of Rs 6 lakh.
- Revised loan amount: Rs 3.33 lakh
- Rate of interest: 9 %
- Per Month EMI: Rs 2,996
- 20 years Interest: Rs 3.86 lakhs
- Savings in Monthly EMI: Rs 2,402
- Savings in interest: Rs 3,08,939
Who will get the benefit?
- Aside from the record of Below Poverty Line (BPL), another persons who’re eligible to receive the benefits of PMAY-G
- The household mustn’t have a pucca home anywhere within the country.
- SC / ST (SC / ST)
- Minority and non-SC / ST rural households in BPL category
- Retirees and widows and dependents of defense personnel / paramilitary troopers killed in action
- The earnings of the applicant’s family needs to be between Rs 3 lakh and Rs 6 lakh.
- Only beneficiaries are allowed to buy or assemble a property under this scheme.
- On the basis of which the list is prepared
- The government pays attention to Socio Economic Forged Census 2011 i.e. Socio Economic Caste Census 2011 to identify the beneficiaries under the Pradhan Mantri Awas Yojana. As well as, the government includes tehsils and panchayats to resolve the final list.
- Filled PMAY G application form
- ID proof (eg Aadhaar Card, Voter ID, and so on.)
- Ethnic group certificate
- proof of income
- Income certificates, if earnings is less than taxable limit
- Address proof
- wage certificates
- 6 month bank statement
- income tax return
- Form 16
- Tax assessment order
- Business data if the applicant is involved within the business
- Economic statement in case of business
- Construction plan
- Construction Claiming Certificate
- Official appraiser’s certificate
- An affidavit certifying that neither the applicant nor his members of the family have pucca homes
- Receipt of any advance cost made to the builder
- Settlement with developer or builder
- NOC from a Housing Society
How to check names in the list of PMAY 2023
He wanted to build a house under Pradhan Mantri Awas Yojana-Gramin and utilized for a house loan due to money problems. However, you do not know whether your title is in this list or not.
So you’ll find out whether you have your title on its list or not. Sure, you can test your title within the online list sitting at dwelling. Really, after applying to get a home under the Pradhan Mantri Gramin Awas Yojana (PM Awas Yojana), the Authorities of India selects such people, who can get advantages beneath this scheme.
After this, the ultimate record is released on the official website of the Prime Minister’s Housing Scheme (PMAY). So if you wish to know whether your title is on this record or not, then you can do such checks.
Test whether your title is in the record launched under Pradhan Mantri Gramin Awas Yojana (PMAYG) –
- First of all, go to the official web site of Pradhan Mantri Grainin Awas Yojana (PMAY) https://pmayg.nic.in/.
- When the web site is open, click on on the stakeholders section on the home web page.
- Then click on IAY / Beneficiary.
- On clicking IAY / Beneficiary, a new page will open. After this, enter the registration number here.
- After this, a new page will open, where you can test your name.
- If you do not have a registration number, click on on the Advance Search option and fill within the required data. Select the scheme kind and submit it.
If you’re applying for the Pradhan Mantri Gramin Awas Yojana, then it is crucial for you to know that there needs to be no permanent house anyplace in India in the title of the applicant or any member of his household. Not only this, the applicant mustn’t have taken advantage of any housing scheme of the government earlier.
The overall annual earnings of an applicant’s home is required to be within 6 lakh to 18 lakh. Under this scheme, low income (LIG), middle income group (MIG) and economically weaker part are eligible for CLSS under PMAY.