The Pradhan Mantri Awas Yojana (PMAY) is a housing scheme of the Central Government launched in 2015.
The motive of this plan was to provide affordable houses to the urban and poor population of the country.
Do you want to know more about PMAY? Continue reading!
A quick look at the PM Awas Yojana
With the tagline of ‘Housing for All’ by 2022, it plans to build low-cost homes using sustainable technologies.
Besides constructing affordable houses, the Pradhan Mantri Awas Yojana also comes with the credit-linked subsidy scheme (CLSS).
The CLSS scheme of the PMAY helps different sections of society to apply for home loans and get interest subsidy. In turn, it can help them save on the EMI payment.
Based on the PMAY eligibility, it is possible to enjoy a home loan interest subsidy of up to 6.5% up to Rs.2.67 lakh.
The PMAY CLSS scheme applies to Economically Weaker Section (EWS), Lower Income Group (LIG), and Mid Income Group 1 and 2 (MIG 1 and MIG 2).
Anyone or a beneficiary family from these sections not having a pucca home anywhere in India can apply for the plan.
A beneficiary family should also not have availed benefits under earlier housing schemes.
A beneficiary family means a husband, wife, and unmarried sons and daughters.
Anyone who has applied under the PMAY can check out his/her name in the Pradhan Mantri Awas Yojana list. It can be done by landing on the official website of the Pradhan Mantri Awas Yojana and after entering a few details.
If you wish to build or move into your dream home without paying hefty home loan interest charges, you can apply for the CLSS scheme.
In case if you do not meet the eligibility criteria for PMAY, you can also apply for a home loan from leading financial institutions at affordable rates and easy terms.
Additionally Read: All you need to know about Pradhan Mantri Awas Yojana PMAY Process
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