Pradhan Mantri Awas Yojana - Urban - PMAY(U)

• Priority for Special Groups - Differently-abled and senior citizens receive preferential ground floor allocations.

• Eco-Friendly Construction - Sustainable and environmentally conscious technologies utilized in building.

• PAN-India Coverage - The scheme spans 4041 statutory towns, with initial priority given to 500 Class I cities in 3 phases.

• Early Credit-Linked Subsidy - Implementation of the credit-linked subsidy begins at the project's inception, covering all statutory towns in India.

• Women Beneficiaries: Preference in given to women beneficiaries.

• Direct Benefit Transfer: Under PMAY-U, financial assistance is provided via DBT. Therefore, fraud is reduced and funds will be transferred to the beneficiary.

• Ownership Title: The beneficiary will be the legal owner of the property.

• Reduction in Slums: Slum dwellers will be provided alternate housing. This will reduce congestion and improve living conditions.
  

Highlights of PMAY-U

The scheme originally targeted housing completion for all eligible urban households by 2022, when India completed 75 years of independence. However, construction timelines have extended beyond 2022, with ongoing implementation continuing through subsequent phases.

Pradhan Mantri Awas Yojana Beneficiaries (PMAY) 

The beneficiaries under the PMAY scheme can be listed as follows:

In addition to these, people belonging to SC, ST, and OBC categories and women belonging to EWS and LIG income groups will also be eligible for the PMAY scheme.

Women beneficiaries receive mandatory co-ownership rights: under PMAY-U, the female head of the family must be the owner or co-owner of the house, ensuring women's financial inclusion and property rights.

Identification and Selection of Beneficiaries under PMAY

• The Pradhan Mantri Awas Yojana (PMAY-Urban) - Urban schemes primarily target the housing needs of urban poor. Apart from this, the scheme also addresses the housing needs of slum residents living in narrow pockets of slums where infrastructure, sanitation and drinking water are poor.

• Beneficiaries of PM housing scheme PM housing scheme mainly include Middle Income Groups (MIGs), Low-income Groups (LIGs), and Economically Weaker Section (EWS).  

While the beneficiaries from the EWS category are eligible for complete assistance under the scheme, beneficiaries from LIG and LIG categories are only eligible for the Credit Linked Subsidy Scheme (CLSS) under PMAY.

In order to be recognised as a LIG or EWS beneficiary under the Scheme, the applicant is required to submit an affidavit as income proof to the authority.

Key Highlights of PMAY Scheme

Pradhan Mantri Awas Yojana (PMAY) Subsidy Calculator

PMAY scheme aims to simplify the process of purchasing a home for the urban poor and weaker sections of society through EMIs at reasonable rates of interest. The rate of interest is comparatively much less than commercial rates, thus offering people subsidised loans.

To calculate the EMI, log on to the Pradhan Mantri Awas Yojana website and fill in the following details: 

• The total loan amount in rupees

• The rate of interest

• The total loan period in months

• Once the following details are submitted, click on the ‘Calculate’ option. This will give you the monthly installment or EMI payable in rupees.

How to Get PMAY Interest Subsidy?

• Apply for a home loan from any listed lending institution asking for subsidy.

• The lending institution will review your application and you are eligible, your application will be sent to the Central Nodal Agency.

• Upon verification, if your application is approved and no discrepancies are found, the Central Nodal Agency will disburse the subsidy amount to the lending institution.

• This amount will be credited to your account by the lending institution which will lower your total loan amount.

• You can continue paying the EMIs towards the balance loan amount.

How to transfer PMAY Subsidy to the Borrower's Bank?

The bank from where the individual is taking the loan will claim the subsidy benefit for the eligible applicants from the National Housing Bank (NHB). The National Housing Bank will then check to investigate whether anyone is making multiple applications under the scheme.

Once confirmed, the CLSS or subsidy amount will be given to the borrower's Bank. Once the amount is received, the money will be credited directly to the Loan Account.

PMAY Loan Eligibility

The PMAY beneficiaries will be selected on the basis of the ‘The Socio economic and caste Census 2011’. The government will consult the panchayat and the tehsil before finalising the PMAY beneficiaries list. This will be done to ensure transparency in the project and to ensure that only the right people get the housing.

 Learn more about the PMAY Eligibility.  

How to Apply for the PM Awas Yojana Online? 

You can apply for PM Awas Yojana (PMAY) through the PMAY portal. The PMAY application process is very straightforward and easy to use. All you need to do is enter your Aadhaar number. Follow the on-screen instructions and complete and submit the PMAY application form. 

Urban PMAY 

• Visit the official PMAY portal. 

• Click on the ‘Citizen Assessment’ option or the ‘Apply Online’ option. 

• Depending on your income group choose EWS/LIG/MIG. 

• Enter all the requested details such as your personal information, Aadhaar number, income details, etc.  

• Submit your application. 

Your application will be verified by the concerned authority. You can visit the PMAY portal to track the status of your application.  

How to check PMAY Application Status?

To check the status of your PMAY application, you can simply log in to the official portal of Pradhan Mantri Awas Yojana at https://pmaymis.gov.in. After that, you can just navigate to the tracking option and follow the on-screen directions to check the status of your application.

How to Edit Your Details After Submitting Application for PMAY

• Visit the official website of Pradhan Mantri Awas Yojana
• Enter your application reference number and your Aadhaar details
• Click on the “Edit” option
• You will now be allowed to edit your application details
• PMAY Resource: PMAY Online Application Form

PMAY Functions of Technology Sub-Mission

PM Awas Yojana Technology Sub Mission will cover following:

• Better Habitat Designing & Planning of the Buildings
• Planning to Develop Environment Friendly Houses
• Best Construction Practices
• Arranging the Most Innovative Technologies
• Picking the Most Suitable Materials

PMAY Customer Care Helpline Numbers

In case of any queries relating to the application process, interest rates and any other scheme related queries, customers can contact the toll-free helpline number:

• 1800-11-6163 (Urban, HUDCO)

• 1800-11-3388 (Urban,NHB)

• 1800-11-3377 (Urban,NHB)

• 1800-11-6446 (Gramin)

Those facing any issues related to the application process can contact the above toll-free numbers according to the locations.

Top 10 Banks offering Home Loans Under PMAY Scheme

Top 10 banks in India which offer loans under the PMAY scheme are listed below:

• Bank of Baroda

• State Bank of India

• Axis Bank

• IDFC First Bank

• Bandhan Bank

• Bank of India

• HDFC Bank

• IDBI Bank

• Punjab National Bank

• Canara Bank

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