If you are one of them who are looking to buy their dream homes having plenty of amenities and location benefits, then you can book a affordable house under Pradhan Mantri Awas Yojana.
This is a housing project started by current NDA government; the main aim of this scheme is to provide better houses to middle class families. If you are not aware of Pradhan Mantri Awas Yojana then you can find its more details in next lines:
PMAY subsidy Categories:
If you are not aware of subsidy categories under Pradhan Mantri Awas Yojana then you can follow next table:
- There will be EWS, LIG, MIG and MIG 2 total four CLSS in Pradhan Mantri Awas Yojana
- Interest rates are different
- Carpet and other areas are also mentioned in this list
|CLSS||Annual Household Income (INR)||Max. Carpet Area||Max. Loan Amount Eligible for Subsidy (INR)||Interest Subsidy||Maximum Subsidy Granted||Loan Tenure (Years)|
|EWS||0-3 Lakhs||30 sqmt.||6 Lakhs||6.5%||2.67 Lakhs||20|
|LIG||3-6 Lakhs||60 sqmt.||6 Lakhs||6.5%||2.67 Lakhs||20|
|MIG||6-12 Lakhs||90 sqmt.||9 Lakhs||4%||2.35 Lakhs||20|
|MIG II||12-18 Lakhs||110 sqmt.||12 Lakhs||3%||2.30 Lakhs||20|
Eligibility criteria to apply in Pradhan Mantri Awas Yojana:
- Any first time house buyers who are above age 18 is eligible to apply for Pradhan Mantri Awas Yojana
- If there is another property on the same name any person then application forms of that person will be rejected
- Categories are divided on the basis of income that any person is carrying every month
- Home loans are available for some of the buyers as according to their category
- The fact of EWS and LIG subsidy is not compulsory for everyone
- If you are taking any loan under Pradhan Mantri Awas Yojana then your purpose should only be to use this loan in construction procedure
These are some of the rules about eligibility criteria of Pradhan Mantri Awas Yojana and if you are falling then this is a golden chance for you to buy a new house instantly.
What kinds of documents will you require for Pradhan Mantri Awas Yojana?
If you are worried about what kinds of documents will be required to apply for Pradhan Mantri Awas Yojana and fill the application form then there is some useful information in next points which can help you to reduce your stress:
- Aadhar card is compulsory
- Loan sanction letter is a necessary document for every new buyer
- PAN card is compulsory
- Stamp paper you will require
- Agreement or ATS copy from any builder
If you will collect all these documents then you will be able to apply for affordable homes under Pradhan Mantri Awas Yojana.