How To Apply For Pradhan Mantri Awas Yojana (PMAY)?

The Pradhan Mantri Awas Yojana is a beneficial housing scheme launched by the Government of India in 2015 to provide affordable housing for all. The scheme seeks to provide concrete houses to eligible urban residents such as economically weaker sections, lower income groups, urban poor and rural poor. It includes a provision that a female family member must be the owner or co-owner. Let's discuss the application process and other details of this scheme.

There are two components of the Pradhan Mantri Awas Yojana (PMAY Scheme):

• PMAY-Urban
• PMAY-Rural

Besides that, there are four different schemes which form a part of the Pradhan Mantri Awas Yojana:

1. In Situ Slum Development

In this, private developers join hands with the State Governments to provide affordable housing to slum dwellers.

2. Credit Linked Subsidy

Credit Linked Subsidy is a direct subsidy for loans availed from notified organisations. Economically Weaker Sections/Lower Income Groups and Middle-Income Groups can apply to the National Housing Board and Housing and Urban Development Corporation (HUDCO) for interest subsidy loans. The loans for economically weaker sections have an upfront subsidy of 6.5% up to ₹6 lakhs. Interest subsidies of 4% for loans up to ₹9 lakh are available for middle-income groups with incomes up to ₹12 lakh. A subsidy of 3% is available for loans up to ₹12 lakh to middle-income groups with income from ₹12-18 lakh.

3. Affordable Housing in Partnership

As a part of this scheme, State Governments will provide a subsidy per flat to developers to build affordable housing and sell 50% of the housing to people from economically weaker sections and lower-income groups. The subsidy will directly reduce the cost of the house for those sections.

4. Beneficiary-led construction

This scheme is meant to provide benefits to economically weaker groups to enhance and alter their existing houses. It also provides subsidies for people to construct houses on their lands. The subsidy is provided in phases depending upon construction.

There are two ways to apply for the Pradhan Mantri Awas Yojana:

Online:

• Step 1: Identify which PMAY category you qualify for before starting your application.
• Step 2: Visit the official PMAY website to begin the application process.
• Step 3: On the homepage, select the ‘Citizen Assessment’ option and choose the relevant category from the four available.
• Step 4: Enter your Aadhaar card information when redirected to the next page.
• Step 5: Fill out the online form with your personal, income, and address details. Save your application by entering the Captcha code and clicking ‘Save’. You can print the completed application if needed.

Note: The application deadline for obtaining a home loan subsidy under PMAY is 31st December 2024. The deadline for MIG (I & II) categories under CLSS has been extended to the same date. Contact the Ministry of Housing and Urban Affairs (MOHUA) for further assistance.

Offline:

• For those wondering how to apply for PM Awas Yojana offline, it is possible by filling up a form in the Common Service Centre (CSC) operated by the State Governments. Offline forms can be filled up for ₹25 plus the GST. It is to be noted that no private individuals or companies are allowed to collect money to get benefits under this scheme.

The Pradhan Mantri Awas Yojana application procedure is straightforward if done online on the scheme website.

You can apply for the Pradhan Mantri Awas Yojana scheme through HDFC Bank.

Looking to apply for a Home Loan through the Pradhan Mantri Awas Yojana scheme? Contact your closest HDFC Bank branch now!

Read more on how to apply for an HDFC Bank Home Loan now!

* Terms & conditions apply. Home Loan disbursal at the sole discretion of HDFC Bank Ltd.