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Get Affordable House with Pradhan Mantri Awas Yojana


Having a home is a dream cherished by most Indians. But because of the high price, many people's dreams rarely become a reality, except those who decide to use a home loan. The qualification of a home loan depends on the individual's income level. This makes it difficult for self-employed people or low-paid individuals to obtain home loans from NBFC or even banks. To ensure that every Indian gets an affordable housing solution, the central government introduced Pradhan Mantri Awas Yojana. Under this plan, individuals will be provided with a subsidized housing loan for the construction of homes or extended housing. The following is a brief description of the program to help you better understand it.


Eligibility Criteria for PMAY  People who belong to the economically weaker part/section (EWS)  Family with annual income below 3 lakhs  Low-income groups (LIG) having a household income between 3-6 lakhs  People come from disadvantaged groups such as SC / ST / OBC

Particular Household Income

CLSS – EWS/LIG Upto 6,000,00

Upgradation of House

Covered

Subsidy Amount Calculation 20 years (earlier it was 15 years) Tenor Required Documents Aadhaar of the applicant & co-applicant As per the eligibility criteria laid down under PMAY, a candidate should –  Not own a pucca house under their name or that of any member of their family  Not having the family income exceeds Rs. 6 lakh annually


Particular Annual household income Dwelling Unit Carpet Area NOC requirement

CLSS – MIG I 6,00,00112,00,000 Upto 90 Sq.mt

CLSS – MIG II 12,00,001 18,00,000 Upto 110 Sq mt

Not required

Not required

Tenor for subsidy amount calculation

20 years

20 years

Aadhaar of an applicant, co-applicant is required Not required

Aadhaar of an applicant, co-applicant is required Not required

Mandatory Document House Upgradation

Required Documents for PMAY  Government issued identity cards like Aadhar card, PAN card, voter ID card, etc.  Caste certificate from candidates belonging to minority communities


 Salary slips, income tax statements to prove income status  Property valuation certificate from the builder  PMAY documents should also include bank details to prove annual income range

For more details, visit us:http://www.wavecity.in/about-wave-cit y/pradhan-mantri-awas-yojana-en

Get affordable house with pradhan mantri awas yojana  

Having a home is a dream cherished by most Indians. But because of the high price, many people's dreams rarely become a reality, except thos...

Get affordable house with pradhan mantri awas yojana  

Having a home is a dream cherished by most Indians. But because of the high price, many people's dreams rarely become a reality, except thos...

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