Prime Minister Housing Scheme (PMAY) Urban Complete Information : Friends had heard one thing with the family since childhood. After all, how long will you stay in a rented house and keep paying the same rent? When you want to stay here, why not take your own house. I think every human has a dream – home.
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Every person wants to have a home of their own. Have a car together. Today I am going to tell you some important aspects about one such scheme scheme, so that the dream of making your home can be a little easier. In today’s post, we will discuss about our Prime Minister Housing Scheme.
Let us first discuss the eligibility conditions of this scheme :-
First condition : –
The age of the applicant should be from 21 years to 55 years. That is, if you are younger than 21 years or over 55 years old. So is not eligible for this scheme.
Second condition : –
You should not have a pucca house already. That is, there should not be any house in the name of spouse and children younger than 18 years. Here I can tell you that you can build a new house, you can buy it. You can also enlarge your old house. That is, you can do 3BHK to 4BHK. Second floor can also be built on the first floor. During all these you can take advantage of this scheme.
Third condition : –
This scheme is for the people of salaried, business men, professional categories.
Fourth condition : –
You can take loan for minimum 20 years, if you want to take advantage of this scheme.
Fifth condition : –
There is no maximum loan limit for you, the limits are only subsidized. Whether you take a loan of 15 lakhs or 1 crore. This does not mean subsidy. You will get subsidy only. But the maximum subsidy you will get is divided according to different categories. The maximum amount of subsidy can be Rs 2,67,280.
Sixth condition : –
What is the minimum limit for taking a loan, that is, the minimum loan that you can avail of this scheme. For this, let me tell you that here all are divided into four categories.
Let’s us discuss about these four categories –
EWS (Economically Weaker Section) :-
These are the categories in which your family income should be less than 3 lakhs. If you fall into this category, what are the benefits to you? You will get 6.5% interest subsidy on home loan.
Whether you take home loan at 8% or 8.30 percent or take it at 9%. Suppose you have taken home loan at 8%, then 6.5%, then here you will get interest subsidy. Here you will get this home loan total 1.5% interest rate. But subsidy on government interest also stays here, but it also has its own conditions.
Here is the first condition, that you will get this subsidy on loan amount upto ₹ 6,00,000 only. Suppose you take a loan of ₹ 10,00,000 at 8%. Then up to 6,00,000 you will get 6.5% interest subsidy. Here you have to pay only 1.5% interest. Also the rate at which interest is charged by the bank on the remaining amount will remain effective, ie 8% l. Maximum subsidy in this can be ₹ 2,67,280.
But for this category, your maximum carpet area should be up to 30 square meters. If you take a house bigger than this, then you will not be eligible for this scheme.
Friends, let me tell you one more thing that if you are in EWS category and if you take a loan of ₹ 600000, your loan will be for 20 years only. If you take a loan of more than this, you can take a loan for 30 years. And you will be eligible for this scheme.
See Video : Pradhan Mantri Awas Yojana (pmay) Scheme Details in Hindi –
LIG (Lower Income Group) :-
This category is for those whose family income ranges from ₹ 3,00,001 to ₹ 6,00,000 per annum. Even if you fall in this category, the government will give you 6.5% interest subsidy. That is, you will have 6.5% interest saving. Here also your minimum loan must be 600000 l. There is no maximum limit.
Here your house size increases a little bit. You can take a house of up to 60 square meters here. That is, if you take a house bigger than this and your income is less than 6 lakhs, then you will not be eligible for this scheme.
Both EWS and LIG categories are required to be Owner or Co-Owner Female. If it is not, then you are not eligible for subsidy.
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MIG 1 (Middle Income Group 1) :-
This category is for those people, whose annual household income is from 6 lakh rupees to 12 lakh rupees. If you fall in this category then you can get a very big house, but it also has its own conditions. Here you have subsidy. The loan amount of 9 lakhs will be available only. This will also be effective only on 4% interest savings.
Here too you can take the maximum loan. But the minimum loan amount is required to be 9 lakhs. For example, if you take a loan of 20 lakhs at the rate of 8%. Here you will get 5% interest on 9 lakhs. You have to pay 8 lakhs interest on the remaining amount of 11 lakhs.
Your carpet area should be up to 160 square meters in this category. In this your subsidy reduces to about 2,35,000.
MIG 2 (Middle Income Group 2) :-
This category is for those people whose annual household income is from 12 lakh rupees to 18 lakh rupees. In this category you can take a house up to 200 square meters. Here too you can take maximum loan. But minimum It is necessary to have 12 lakhs of loan amount. Here you will get subsidy only on loan amount of 12 lakhs. It will also be effective only on 3% interest savings. Here the amount of subsidy is about Rs. 2,30,000.
If you feel that you are eligible for the PMAY scheme and you are not getting a loan, through the bank, a toll free number has been issued by the Government of India for such a situation, on which you can file a complaint. But your complaint will be redressed soon. This number will remain 1800-11-3377
Currently PMAY plans are till 31.03.2020.
Go to PMAY Portal : Click Here