Now Urbanites can get a house under Pradhan Mantri Awas Yojana: Find out how

Pradhan Mantri Awas Yojana is geeting 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 taking its steps more further as to the mission the scheme is being worked. Also 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, two new subsidy slabs (yet to be notified) will bring in people earning up to Rs 12 lakh and Rs 18 lakh per annum into the fold.

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 per cent of the houses are constructed for the EWS category will be called an affordable housing project. So if one wishes to buy a home in an upmarket project that hasn’t got any allocation towards affordable housing, the scheme simply won’t apply.

who all are elegible

These are the following terms and conditions to be applicable in the scheme

a)   The first eligibility condition is that the person (beneficiary) who applies for the scheme should not own a pucca house (an all weather dwelling unit) either in his or his family member’s name in any part of India.

b)   A beneficiary family will include husband, wife and unmarried children.

c)    EWS households are defined as households having an annual income up to Rs 3 lakh. An EWS house means a single unit or a unit in a multi-storeyed super structure having a carpet area of up to 30 sq. m., with adequate basic civic services and infrastructure services like toilet, water, electricity, etc.

d)   LIG households are defined as households having an annual income between Rs 3 lakh and Rs 6 lakh. An LIG house means a single unit or a unit in a multi-storeyed super structure having carpet area of up to 60 sq. m., with adequate basic civic services and infrastructure services like toilet, water, electricity, etc. However, the states/Union Territories have been given the flexibility to redefine the annual income criteria as per local conditions, in consultation with the Centre.

e)   The beneficiary, at his discretion, can build a house of larger area, but the interest subvention would be limited to first Rs 6 lakh only.

How to get Loan

The loan can be availed from any primary lending institution (PLI) such as a bank or a housing finance company. For the purpose of identification as an EWS/LIG beneficiary under the scheme, an individual loan applicant will have to furnish self-certificate/affidavit as proof of income to the bank.

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