Pradhan Mantri Awas Yojana is getting the highest boost across the country. Government is also working towards to make it work all over properly. Pradhan Mantri Awas Yojana with a mission – “Housing for all by 2022” has taken its steps further as to the mission the scheme is being worked. Also, the government has decided that now Urbanites can also apply to get their house under the scheme at affordable prices.
Note that the existing guidelines are aimed at the economically weaker section (EWS) and the lower income group (LIG) category, earning Rs 3 lakh and Rs 6 lakh per annum respectively, there are two new categories for subsidy in the notification- first income slab up to Rs 12 lakh and second income slab up to Rs 18 lakh per annum.
Type of Housing Project under Pradhan Mantri Awas Yojana
If you want a house under Pradhan Mantri Awas Yojana, you have to qualify for the scheme, the house has to be within the definition of affordable housing. According to the Housing for All (Urban) Scheme Guidelines March 2016 issued by the Ministry of Housing and Urban Poverty Alleviation, a project where at least 35 percent of the houses are constructed for the EWS category will be called an affordable housing project.
who all are eligible
These are the following terms and conditions to be applicable in the scheme
a) The applicant must have not any pucca house in any part of India neither his nor his family member’s name.
b) Husband, wife, and unmarried children will be considered as one family.
c) The beneficiary whose annual income is up to Rs 3 lakh considered as EWS households. An EWS house has maximum 30 sq meters with some basic facility such as a toilet, water, electricity, etc.
d) The beneficiary who have an annual income between Rs 3 lakh and Rs 6 lakh considered as LIG households. A LIG houses have up to 60 sq. m. carpet areas with some basic needs and infrastructure services such as the toilet, water, electricity, etc. The annual income criteria may vary as per local conditions, in consultation with the Centre.
e) The beneficiary can build the larger area house but the interest subsidy will be given for only first RS 6 lakh loan amount.
How to get Loan
The loan will be available for any bank or others financial institutions. The applicants have to submit self-certificate/affidavit as proof of income to the bank to identify the category as EWS or LIC beneficiary under the scheme.
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