PMAY Housing Scheme 2021 – 100 Smart city, AMRUT & Housing for all. Application details for EWS, LIG Groups, Weaker sections, Subsidy for poor people in Hindi, English, Tamil, Telugu & PDF. Results & Places where these housing schemes will be start in coming years. Prime Minister Narendra Modi launched ambitious housing loan scheme. The schemes, aimed at developing cities and towns as “new engines for growth”, will entail an investment of over Rs. 3 lakh crore in the next five years. Under the Pradhan Mantri Awas Yojana, those belonging to the poor, lower middle and middle classes in cities will be eligible to 4 cent discount on housing loans upto Rs 9 lakh. Loans of upto Rs 12 lakh will receive interest subvention of 3 per cent.
PMAY Housing Scheme Details
|Repayment Time||15 Years|
|Subsidy under CLSS-MIG(I)||2.35 lakh|
|Subsidy under CLSS-MIG(II)||2.30 lakh|
|No. Of Houses||2 Crore|
|Repayment Period||20 yrs|
- The service will be available through about 60,000 Common Service Centres (CSCs) located in urban areas.
- Application form will be available at a nominal cost Rs 25 each.
- Applicants filling the forms at the CSCs will be provided with an acknowledgement receipt.
- The receipt will carry a photograph of the applicant and will also help him/her know the status of the application.
- Aadhar Card is mandatory to apply for the scheme. Those without Aadhar Card can apply only after the procedure of verification is completed.
Pradhan Mantri Awas Yojana Scheme Interest Rates, Eligibility
As per Market Rates, Currently Home loan rates are running on 7.90% for women. According to this applicant have to pay Rs.950 per month for per lakh loan amount for 15 years repayment period. For an example if you taken a loan of 7 Lakh from Bank for PMAY Yojana than you have to pay 6,649 per month as an EMI. But Government provides a Subsidy of 3.00% on Loan. So the Final Interest rates on which a applicant taken a loan is come down to 4.90% (7.90% – 3.00%(Subsidy)). So after subsidy the loan emi per month reduced to Rs. 5,499. It means an applicant should save around 1150 Rupees per EMI.
Other Features of PMAY Yojana 2021
Central Grant of Rs 1 Lakh (Average) should be provided to the applicant
Subsidy on Interest rates will be provided to EWS & LIG Applicants via Credit Linked Subsidy Scheme (CLSS)
List of Cities which are comes under PMAY or Selected under PMAY 2021
PMAY – CLSS TABULAR GUIDELINES
INTEREST RATES: The interest rates are as applicable for Home Loans in all Banks.
|Criteria||Existing Instructions(CLSS – EWS +LIG)||Revised Instructions (CLSS – EWS +LIG)||CLSS (MIG-I)||CLSS (MIG-II)|
|Household/ Annual Income (Rs)||Upto Rs. 6 lakhs||Upto Rs. 6 lakhs||Rs. 6.01-12.00 lakhs||Rs. 12.01-18.00 lakhs|
|Property Area (Carpet Area ## )||30/60 sqm*||30/60 sqm*||160sqm||200sqm|
|Location||17778 towns||17778 towns||Urban -2011*||Urban -2011*|
|Woman Ownership||Yes (except for construction)||Yes (except for construction)||NA||NA|
|Max Loan Amt for Subsidy||Upto 6 lakhs||Upto 6 lakhs||Upto 9 lakhs||Upto 12 lakhs|
|Subsidy Amount||Rs. 2.20 lakhs||Rs. 2.67 lakhs||Rs. 2.35 lakhs||Rs. 2.30 lakhs|
|Max term of loan (on which subsidy will be calculated)||15 yrs||20 yrs||20 yrs||20 yrs|
|Property should be Family’s||1st home**||1st home**||1st home**||1st home**|
|Applicability||Loans approved on/after 17/06/2015||Loans approved on/after 01/01/2017||Loans approved on/after 01/01/2017||Loans approved on/after 01/01/2017|
- *Applicable in case of Repair and Renovation…..Read More>>