Pradhan Mantri Awas Yojana (PMAY) Urban

pradhan mantri awas yojana urban pmay urban — (Source: mygov.in)

Launched on 15th June 2015, PMAY Urban aims to provide affordable housing for all urban poor by 2022. This includes the construction of 2 crore+ pucca houses, alongside offering basic civic amenities, such as water connection, 24x7 electricity supply etc.

If you want to know more about this scheme, continue reading!

Features and Benefits of PMAY Urban Scheme

Here are the following benefits you can enjoy if you choose to construct your dream home under PMAY Urban scheme:

1. Substantial Subsidy for Every Economic Group

One of the crucial benefits of PMAY Urban is that every economic group is eligible for interest subsidy. Take a look at how much interest subsidy each group are eligible for:

EWS and LIG - ₹2.67 lakhs
Middle Income Group I - ₹2.35 lakhs
Middle-Income Group - ₹2.30 lakhs

You can also use the subsidy calculator to view the subsidy amount for each income category.

2. Development of Affordable Housing at Urban and Rural Area

Besides PMAY (U), the government also offers PMAY Gramin. It provides affordable housing solutions to rural and slum areas. Approximately PMAY Gramin completed 20.65 lakh houses.

3. Construction of Eco-Friendly Houses

This scheme also aims to limit environmental damage. Developers must use low-carbon building technologies to meet this objective. The Indian Ministry claims that more than 16 lakh houses have been built using green technology. It will lower approximately 12 million tonnes of CO2 emission by 2022.

Besides these, women, minorities, disabled and senior citizens are also given preference.

In addition, you need to be aware of a few essential guidelines of Pradhan Mantri Awas Yojana Urban, which are listed below:

The construction or extension of the house must be completed within 36 months. It is calculated from the date of the loan disbursement and the first instalment of the credit.
Senior citizens and disabled individuals can avail ground-floor housing under PM Awas Urban.

Eligibility Criterias for Pradhan Mantri Awas Yojana

The following beneficiaries enjoy PMAY-HFA (URBAN):

Lower Income Group (LIG)
Middle-Income Group I (MIG I)
Middle-Income Group II (MIG II)

However, you must meet the following PMAY eligibility to enjoy the benefits of this scheme:

Applicants or their family members should not own a pucca house.
Individuals must not have availed any housing scheme under the Central or State governments.
Beneficiaries with an income up to ₹18 lakh qualify for PMAY (U) scheme.
In the case of joint ownership, applicants are eligible to receive only one subsidy.
Female applicants or co-applicants from EWS and LIG are mandatory.

Besides these common eligibility criteria, there are several parameters for each economic group. Given below is a table that further elaborates on the PMAY Subsidy Eligibility:

Economic Groups	Carpet Area	Annual Income
Economically Weaker Section	30 square meters	Up to ₹3 lakh
Lower Income Group	60 square meters	₹6 lakh
Middle-Income Group I	160 square meters	₹6 lakh - ₹12 lakh
Middle-Income Group II	200 square meters	₹12 lakh - ₹18 lakh

Note: The above figures are subject to change at the discretion of the Government of India.

How to Check the Beneficiary List of PMAY Urban?

To check the beneficiary list of Pradhan Mantri Urban Awas Yojana, follow this process:

Step 1: Visit the official website of PMAY

Step 2: Select "Search Beneficiary" and click on "Search By Name"

Step 3: Enter your Aadhaar card number and click on "Show" to view the beneficiary list.

How to Apply for PM Awas Yojana?

Once you are eligible for Pradhan Mantri Awas Yojana Housing For All-Urban scheme, apply online and offline.

Online Steps to Apply for PMAY Urban

To apply PM Awas Yojana 2021 online, follow the steps mentioned below:

Step 1: Visit the official website of PMAY.

Step 2: Click on "Citizen Assessment" and click "Apply Online". Select from the four available options from the drop-down menu.

In Situ Slum Redevelopment – People living in slums fit for redevelopment can apply for this scheme.
Credit Linked Subsidy Scheme- The central government offers an interest subsidy on the eligible loan amount.
Beneficiaries Lead Construction or Enhancement – The government offers substantial financial support to the EWS to construct or renovate their houses.
Affordable Housing in Partnership – Here, the government offers up to ₹1.5 lakhs per housing unit of EWS. It allows agencies or private partnerships to provide affordable housing to beneficiaries.

Step 3: Authenticate your identity by entering your Aadhaar card or Virtual ID number and name. Click on "Check".

Step 4: The page redirects to the online application form. Fill in the required information such as your name, residential address, residential city, address etc.

Step 5: Enter captcha code and submit by clicking "Save"

Besides knowing how to apply for PM Awas Yojana online, let's know about the offline procedures to apply for this scheme.

Offline Steps to Apply for PMAY Urban

Individuals without internet access can visit the Common Service Centre, backed by state governments or financial institutions listed under PMAY. You need to pay ₹25+applicable GST to get the application form. Fill it in with relevant information such as your name, residential city etc.

Before applying for this scheme, keep the following documents handy to avoid any inconvenience in Pradhan Mantri Awas Yojana Housing For All-Urban scheme:

EWS or LIG income certificate
PAN card
Aadhaar card
Voter ID
Driving licence
Bank account statements of last 6 months
A photocopy of residential proof
Proof of income tax return, if necessary
Receipt of payment made to the builder
Approved construction plan etc.

How to Calculate Subsidy Under PMAY Urban?

Purchasing a house involves a significant investment. However, the PMAY scheme lowers such a financial burden by offering an interest subsidy.

For example, if an individual from EWS wants to purchase a house worth 15 lakh, a 20% down payment that is ₹3 lakh is mandatory. Therefore, he needs to apply for a loan of the remaining ₹12 lakh. However, under Pradhan Mantri Awas Yojana Urban, the applicants will enjoy an interest subsidy, say 6.5%, on the loan amount up to ₹6 lakh. In this way, it lowers the financial burden.

Take a look at how much interest subsidy each economic group shall have:

Economic Groups	Interest Subsidy	Loan Amount Eligible for Interest Subsidy
Economically Weaker Section	6.5% per annum	₹6 lakh
Lower Income Group	6.5% per annum	₹6 lakh
Middle Income Group I	4% per annum	₹9 lakh
Middle Income Group II	3% per annum	₹12 lakh

Here’s a quick calculation on how much you can save under this scheme:

Individuals With Income up to ₹6 lakhs

Loan amount	₹6 lakh
Interest rate	9%
Monthly Instalment	₹5,398
Interest payable (tenure 20 years)	₹6.95 lakh

However, with 6.5% under this scheme, the applicable interest subsidy is equivalent to ₹ 2,67,000. Thus, it lowers the loan amount to ₹3,33,000. However, the interest rate of 9% remains unchanged. However, overall it reduces the monthly instalment and interest cost.

So, here's the revised table to show you the maximum savings you can enjoy under this scheme:

Loan amount	₹3,33,000
Applicable Interest Rate	9%
Monthly Instalment	₹2,996
Interest Payable (tenure 20 years)	₹3.86 lakh
Total Reduction on Monthly Instalment	₹2,402
Total Savings on Interest Payment	₹3, 08,939

Keeping this calculation in mind, individuals with income up to ₹12 lakh will save approximately ₹2, 72,445 on interest payables. At the same time, applicants up to ₹18 lakh will enjoy a reduced interest cost of ₹2, 66,649.

How to Check the Status for PMAY Urban?

To check the PMAY beneficiary status or application status of this scheme, here are the few steps you need to follow:

Step 1: Visit the official website of PMAY

Step 2: Select from either of the two options –

By name, Father's name, or mobile number
Assessment ID

Now, fill in necessary details such as city, district, state name, mobile number etc. and click "Submit".

How to Avail the PMAY Urban Scheme at a Bank?

As mentioned earlier, if you cannot apply Pradhan Mantri Awas Yojana online, visit any of the eligible banks listed below to apply for this scheme:

State Bank of India
ICICI Bank
Bandhan Bank
HDFC Bank
Canara Bank
Punjab National Bank
IDFC First Bank
Bank of India
Axis Bank
IDBI Bank

What Are the State Level Nodal Agencies for PMAY (U)?

State Nodal Agencies under PMAY Urban implement this in their respective states. These agencies ensure that eligible beneficiaries get approvals by submitting relevant documents and enjoy interest subsidies.

Here is the list of five state nodal agencies. Take a look:

State	Organisation	Contact Details
Andhra Pradesh	Andhra Pradesh State Housing Corporation Limited	Address – Himayat Nagar, Hyderabad – 500029. Email ID: apshcl.ed@gmail.com
Bihar	Government of Bihar	Address – Urban Development and Housing Department, Vikas Bhawan, Bailey Road, New Secretariat, Patna, Bihar – 15. Email Id: sltcraybihar@gmail.com
Gujarat	Government of Gujarat	Address – Affordable Housing Mission, New Sachivalaya, Block No. 14/7, 7th floor, Gandhinagar – 382010. Email Id: gujarat.ahm@gmail.com/ mis.ahm2014@gmail.com
Jharkhand	Urban Development Department	Address – 3rd floor, Room No: 326, FFP Building, Dhurwa, Ranchi, Jharkhand – 834004. Email Id: jhsltcray@gmail.com/ director.ma.goj@gmail.com
Kerala	State Poverty Eradication Mission	Address – TRIDA Building, Jn. Medical College, PO Thiruvananthapuram. Email Id: uhmkerala@gmail.com

Besides, if you face any issues or want to know more about PMAY Urban, here are the following toll-free customer care numbers:

Urban, HUDCO - 1800-11-6163
Urban, NHB - 1800-11-3388
Gramin - 1800-11-6446
Urban,NHB - 1800-11-3377

As of 2021, the Indian government has approved approximately 3.61 lakhs houses under PMAY Urban scheme. This shows a promising development of this scheme to meet its primary objective. This covers fulfiling the dreams of weaker sections of the society to construct houses at an affordable rate. Thus, if you are an eligible beneficiary, keep these pointers in mind mentioned above to avoid complications while applying.

Frequently Asked Questions

✓ How much time does it take to receive the subsidy under PMAY Urban scheme?

It approximately takes 3-4 months to disburse the subsidy amount to an applicant's home loan account.

✓ Can I sell a PMAY house?

No, a house bought under this scheme cannot be sold within 5 years of its purchase.