In June 2015, the Indian government introduced the Pradhan Mantri Awas Yojana (PMAY) housing scheme. The primary objective of the scheme was to provide proper housing to every individual in India.
The scheme has four components – In-situ slum redevelopment, Credit-linked Subsidy Scheme, Affordable Housing in Partnership, and Beneficiary-led individual house construction.
A look into PMAY’s achievements
- More than 1.53 Crore houses constructed under the scheme since 2015.
- Budget 2019 announced a fund allocation of Rs. 25,853 Crore to PMAY.
- More than 940 projects sanctioned under the scheme worth Rs. 22,492 Crore.
- Approximately 93,000 individuals from the Middle-income group (MIG) have benefitted from the CLSS.
- 1960 Crore – Amount of interest subsidy disbursed by financial institutions under the CLSS.
The PMAY project is segmented into 2 parts – Pradhan Mantri Awas Yojana Urban (PMAY-U) and Pradhan Mantri Awas Yojana Gramin (PMAY-G). The PM Awas Yojana lists both types which are drafted and published separately.
How to check your name on PMAY list?
In case you have applied for a home loan under the PM Awas Yojana (PMAY), you will be provided with a registration ID if your application is accepted.
If you belong from an urban area, you can check whether your name is mentioned in the PM Awas Yojana list of beneficiaries by following the steps mentioned below –
- Visit the official PMAY website.
- In the home page, navigate to the dashboard and click on the “Search Beneficiary” option.
- Provide your Aadhaar number and click on ‘Show.’
The following page will display your application details along with other relevant info.
In case you did not use your Aadhaar number during registration, you can check your application status using your Assessment ID or your name, registered mobile number, and your father’s name.
Adhere to the following steps to check your application status in the PMAY list –
- Visit the PMAY website.
- Navigate to the “Citizen Assessment” option in the home page dashboard.
- In the drop-down menu, click on the “Track Your Assessment Status.”
- In the next page, choose either “By Name, Father’s name & Mobile No” or “By Assessment ID.”
- Furnish details according to your selection.
If you reside in regions under rural jurisdiction, follow the steps mentioned below to check your application status –
- Visit the official PMAY-G website.
- Click on the “Stakeholders” option in the dashboard. A dropdown menu will appear.
- Click on the IAY/PMAYG Beneficiary option from the dropdown menu.
- In the next page, provide your registration number and click on “Submit.”
The following page will provide the details and status of your application.
Alternatively, you can also click on then “Advanced Search” option on the IAY/PMAYG Beneficiary page, in case you do not have your registration number. Therein, you will need to provide details such as your state, district, panchayat, etc. to view your application status.
In case you are a first-time homebuyer, you might be eligible for an interest subsidy under the CLSS scheme. To know whether you are eligible for PMAY as a first-time homebuyer, refer to the eligibility criteria mentioned below –
- Economically Weaker Section (EWS) – Family annual income less than Rs. 3 Lakh.
- Low Income Group (LIG) – Family annual income within Rs. 3 Lakh to Rs. 6 Lakh.
- Middle Income Group-I – Family annual income up to Rs. 12 Lakh.
- Middle Income Group-II – Family annual income within Rs. 12 Lakh to Rs. 18 Lakh.
Individuals who belong to these income groups can enjoy the key benefits of Pradhan Mantri Awas Yojana such as subsidised interest on home loans.
In any event, individuals from each economic group can avail Bajaj Finserv home loan up to a certain limit. When availing a home loan, you should also consider the lender from whom you would avail such credit.
Alongside the Pradhan Mantri Awas Yojana, the government and the RBI are introducing several direct and indirect measures to benefit the borrowers such as the reduction in repo rate. Check whether you are enlisted on the PMAY list and refer to the leading lender to purchase your new residence at subsidised interest rates today.