Pradhan Mantri Awas Yojana 2020-21 : PMAY-HFA(Urban)pmaymis.gov.in: Pradhan Mantri Awas Yojana (Urban) Mission launched on 25th June 2015 which intends to provide housing for all in urban areas by year 2022.
The Pradhan Mantri Awas Yojana (PMAY) scheme was launched by the Government of India to boost the affordability of houses against an inflated real estate .
What is Pradhan Mantri Awas Yojana| What is Credit Linked Subsidy Scheme (CLSS)| Who are all eligible under the PMAY scheme| PMAY List 2020 – Pradhan Mantri Awas Yojana List for State In Gujarat.pradhan mantri yojana 2020|
- The beneficiary family should not own a pucca house (an all-weather dwelling unit) either in his/her name or in the name of any member of his/her family in any part of India.
- The beneficiary family should not have availed of central assistance under any housing scheme from Government of India/State government.
- The beneficiary family should not have availed any PMAY – CLSS subsidy from any of the Primary Lending Institutions (‘PLI’).
- All Statutory Towns as per Census 2011 and towns notified subsequently would be eligible for coverage under the Mission.
- The construction/extension for which the loan is availed must be completed within 36 months from the date of the disbursement of the 1st instalment of the loan amount.
Documents Required for Pradhan Mantri Awas Yojana:
- Proof of identity:
- PAN card
- Voter ID card
- aar card
- Driving license
- Photo credit card
- Photo identity card issued by the Government
- A letter issued by a recognized public authority that confirms the identity of the customer with a photograph
- Proof of address:
- A letter issued by recognized public authority confirming the identity and residence of the applicant
- Rent agreement
- Life insurance policy
- Residence address certificate
- Voter ID card
- Aadhaar card
- Proof of income:
- Last six months bank statement
- ITR receipts
- Salary slips for the previous two months
- Proof of purchase of the property (if applicable):
- Sale deed
- Sale/purchase agreement
- Property registration certificate (if available)
Copy of receipt of payment made to the developer (if applicable)One must make sure that he/she is eligible for the subsidy before application. Also, the applicant should check whether his/her name is present on the beneficiary’s list as well to receive the subsidy benefit.
- Who is eligible for Pradhan Manti Awas Yojana?
- The following individuals and families are eligible for this scheme:
- Economically Weaker Section (EWS) – Families with an annual income up to Rs. 3 Lakh.
- Low Income Group (LIG) – Families with an annual income between Rs. 3 Lakh and Rs. 6 Lakh.
- Middle Income Group I (MIG I) – Families within an annual income between Rs. 6 Lakh and Rs. 12 Lakh.
- Middle Income Group II (MIG II) – Families with an annual income between Rs. 6 Lakh and Rs. 12 Lakh.
- Women belonging to EWS and LIG categories.
- Scheduled Caste (SC), Scheduled Tribe (ST), and Other Backward Class (OBC).
- In addition to the above, beneficiaries can avail the benefits of this scheme by meeting the following few eligibility criteria –
- He/she must not own a house to fulfil the Pradhan Mantri Awas Yojana eligibility.
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Home Loan – Features and Benefits:
Pradhan Mantri Awas Yojana (PMAY)
Home Loans get more affordable than ever, with assistance from the Pradhan Mantri Awas Yojana (PMAY) for first-time homeowners. Reduce your Home Loan EMIs with PMAY, by getting a Home Loan at an interest rate of just 6.93%*, and save up to Rs. 2.67 lakh on interest*. Get a Home Loan under PMAY even if your parents own a home, and thus have the chance to become a homeowner yourself.
Easy Balance Transfer Facility
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A customised report to guide you through all the legal and financial aspects of being a property owner.
Part-prepayment and Foreclosure Facility
No charges on part-prepayment or foreclosure to make the loan affordable
Flexible tenors ranging up to 240 months, to fit your repayment capacity.
Easy Home Loan eligibility criteria and minimal documentation, to help you get your loan faster
Online Account Management
Online management of your Bajaj Finserv Home Loan using our digital customer portal, for your convenience
Customised Insurance Schemes
Customised insurance schemes to protect your family from the burden of repaying the housing loan in case of unforeseen events
When you choose to borrow via the Bajaj Finserv Home Loan, you not only get access to all the above-mentioned features but also benefit from industry-leading home loan interest rates. Additionally, provisions such as nil part-prepayment or foreclosure fees, interest subsidy for PMAY beneficiaries, and a fully-customised property dossier make this home loan one of the best in the country.