Pradhan Mantri Awas Yojana 2020 | Application Form | Subsidy Scheme | Pradhan Mantri Awas Yojana 2020 Eligibility Criteria

What is Pradhan Mantri Awas Yojana 2020?

We all know the what and why is the Pradhan Mantri Awas Yojana 2020. The three things needed in our life to live is Food, clothes and house. Clothes and food everyone would find but the making of house is not easy to everyone. Everyone does not complete all the three needy things in their life.

Our Prime Minister Mr. Narendra Modi gifted house to the needy people. Who has not their own house Mr. Narendra Modi gave house as the Scheme of Pradhan Mantri Awas Yojana 2020.

On 25th June Pradhan Mantri Awas Yojana was launched for the rural and urban expenses.

However, the main aim of this project is to help the poor peoples who have no house to live. Thus,through this housing scheme many people complete their dream and get their own house to live a happy life.

pradhanmantri-awas-yojana
pradhanmantri awas yojana

This scheme is implemented for 7 years, this project will complete in 2022. In this project our Government has given an investment of 439.00 billion rupees.

For Pradhan Mantri Awas Yojana 2020 70 years of the peoples can apply in this scheme.

Who’s annual income is less than 3 lakhs they can also apply here.

For this housing scheme income limit is to set. EWS category is fixed at 3 lakhs and LIG category fixed at more than 6 lakhs.

This Scheme is Divided into Two Parts:

  1. Pradhan Mantri Awas Yojana (City)
  2. Pradhan Mantri Awas Yojana (Village)

Benefit’s of Pradhan Mantri Awas Yojana 2020:

This housing scheme is only launched and targeting for the EWS (Economically Weaker Section) and LIG (Lower Income Group).

Moreover, under this scheme, the loan of 9 lakh government will give you the 4 percent or discount and for 04 lakh is 4 percent discount.

Under this scheme 33 per cent of the houses in rural areas will be promoted in number. For this scheme more people don’t have a house to live.

For this scheme, the interest of the home loan will reduce. Because of Pradhan Mantri Awas Yojana most of the people make their own house.

Thus, this plan is also given to the home for repairing of the house. Home loan of 2 lakh and get the discount of 3 per cent.

The main aim of this housing scheme was to give the house of poor and needy peoples and also complete their dream of house.

PMAY is Divided into Three Parts:

Phase I

This phase was started in April. In which our government had decided to build houses in more than 100 cities. This phase was completed in March.

Phase II

After the first phase was complete, in April the second phase was started. In which the government has decided to complete this scheme to more than 200 peoples. Thus, this phase will be completed by March 2020.

Phase III

The third phase will start in April 2020 and be completed in 2022. In this phase, the remaining peoples will bring the house through this phase.

How to Apply For Pradhan Mantri Awas Yojana 2020:

Before you apply in the Pradhan Mantri Awas Yojana, you have to know about this scheme. However, if you belong to the poor and the deprived or the Fairy, EWS and LIG, then he/she can fill the application form for this scheme.

To fill the Pradhan Mantri Awas Yojana, you will not have to suffer from the government offices. Before applying in this housing scheme it must be declared that you do not have any house.

  • Open the official website of Pradhan Mantri Awas Yojana pmaymis.gov.in.
  • After opening the website, if you have a menu by doing Citizen Assessment in the menu bar, then click on it. You will get the two options there. First option is Slim Dwellers, Second option is Benefit Under Other 3 Components. You have to choose an one option according to you.
  • Then, you have to fill the Aadhar Card number and click on the check option.
  • Now Pradhan Mantri Awas Yojana online page will open. You have to fill all the details. After the form filling, the captcha code will be given below on the page. After writing it you have to save the application form and remove the print so that you can improve your and apart from this, you can use it to track the application.

Pradhan Mantri Awas Yojana Subsidy Scheme:

An interest subsidy called the Credit Linked Subsidy Scheme (CLSS) under Pradhan Mantri Awas Yojana (URBAN) Housing for all.

Subsidy Scheme Details

Class Scheme TypeInterest Subsidy %Loan PurposeEligibility Household Income (Rs.)Validity of SchemeCarpet Area Max (sq.mt.)Maximum Subsidy (Rs.)Subsidy Calculated on a max loan ofWomen Ownership
EWS and LIG6.50 %Purchase/ Self Construction/ ExtensionUpto Rs. 6,00,0031-03-202260 sq.mt2.67 Lacs6,00,000Yes*
MIG 1**4.00 %Purchase/ Self ConstructionRs.6,00,001 to Rs. 04,00,00031-3-2019040 sq.mt2.53 Lacs9,00,000Not Mandatory
MIG 2**3.00%Purchase/ Self ConstructionRs.04,00,001 to Rs. 18,00,0031-3-2019150 sq.mt2.30 Lacs04,00,000Not Mandatory

Women ownership is not mandatory for construction / extension.

As per the correction date 15 March, an adult earning member (without regards of marital status) they are also treated as the separate household peoples. Moreover, in the case of married couples, either spouse or together in joint ownership will be eligible for the single house. Subject to income eligibility of the household under the scheme.

  • Aadhaar Number is compulsory for the beneficiary family are mandatory for MIG category,
  • The interest subsidy is available for a maximum loan tenure of 20 years or the loan tenure whichever is over.
  • However, the interest subsidy will be credited upfront to the loan account of beneficiaries through HDFC resulting in reduced effective housing loan Equated Monthly Installments (EMI).
  • The Net Present Value (NPV) of the interest subsidy will be calculated at a discount rate of 9 per cent.
  • Moreover, the additional loan beyond the specified limits, if any, to be at non-subsidized rate.
  • There is no cap on the loan amount or the cost of the property.

Pradhan Mantri Awas Yojana 2020 Eligibility Criteria:

  • In India still has a large number of population living in object poverty, most of the people who don’t have a house to call their own.

Objective of Pradhan Mantri Awas Yojana:

  • To ensure that the poor section or urban India can live under the roof of their owned house.
  • However, to provide financial support to people who can not afford the cost of the house.
  • This housing scheme is only for EWS and LIG category.
  • Bring the both category of private and public sector together in a bid to improve the fate of the nations urban poor populace.

Eligibility Criteria:

Economically Weaker Section (EWS): People who earn an annual household income is less than the Rs. 3 lakh they earn in the Economically Weaker Section (EWS). However, an applicant claiming to be from EWS needs to provide relevant proof to the government to certain their claims.

Lower Income Group (LIG): People who can earn an annual household income is between 3 lakh to 6 lakh and they come in the Lower Income Group. Thus, they should be eligible for consideration, they need to prove sufficient proof of their economic standing.

Middle Income Group I (MIG): Those peoples who earn annually household income below Rs.04 lakh fall under the MIG I category.Thus, these peoples are available loan of up to Rs.9 lakh for the construction of a residence.

Middle Income Group II (MIG): Individual earning an household income between Rs.04 lakh to Rs. 18 lakh will fall under MIG II category. Thus, these people are available for loan up to 04 lakh.

Minorities: The categories coming in the minority are SC/ST/OBC. That are considered under the PMAY scheme, these people need to meet to provide relevant caste and income certificates.

Women: Women belonging to the EWS/LIG category will be consider if they apply under the PMAY scheme.

Pradhan Mantri Awas Yojana Home Loan Scheme for LIG/ EWS Category

For Loan Amount of Rs.  Lakh

Loan AmountRs.3 lakh
Balance LoanRs.1,66,360.00
Initial EMIRs.2,895
Loan amount eligible for the subsidyRs.3 lakh
Savings on a monthly basisRs.1,290
Interest SubsidyRs.1,33,640.00
Reduces EMI after subsidy CreditRs.1,605
Savings on an annual basisRs.15,480

For Loan Amount Rs.6 Lakh

Loan AmountRs.6 lakh
Balance LoanRs.3,22,720.00
Initial EMIRs.5,790
Loan amount eligible for the subsidyRs.6 lakh
Savings on a monthly basisRs.2,579
Interest SubsidyRs.2,67,280.00
Reduces EMI after subsidy CreditRs.3,204
Savings on an annual basisRs.30,948

For Loan Amount Rs.10Lakh     

Loan AmountRs.10 lakh
Balance LoanRs.7,32,720.00
Initial EMIRs.5,790
Loan amount eligible for the subsidyRs.6 lakh
Savings on a monthly basisRs.2,579
Interest SubsidyRs.2,67,280.00
Reduces EMI after subsidy CreditRs.7,071
Savings on an annual basisRs.30,948

Pradhan Mantri Awas Yojana Loan Scheme for MIG I      

Interest subsidy per year4%
Maximum interest subsidyRs.2.35 lakh
Rate of discount for NPV (Net Present Value) calculation of the interest subsidy9%
Income of the household per yearRs.04 lakh
Monthly EMI (8.65%) with interest subsidyRs.5,834
Monthly EMI (8.65%) without interest subsidyRs.7,894
Maximum tenure of the loan20 years
Dwelling unit max carpet area90 sq.mt
Eligible amount of loan for interest subsidy under CLSS (Credit Linked Subsidy Scheme) for MIGRs.9 lakh

Pradhan Mantri Awas Yojana Loan Scheme for MIG II          

Interest subsidy per year3%
Maximum interest subsidyRs.2.3 lakh
Rate of discount for NPV (Net Present Value) calculation of the interest subsidy9%
Income of the household per yearRs.18 lakh
Monthly EMI (8.65%) with interest subsidyRs.8,059
Monthly EMI (8.65%) without interest subsidyRs.10,528
Maximum tenure of the loan20 years
Dwelling unit max carpet area040 sq.mt
Eligible amount of loan for interest subsidy under CLSS (Credit Linked Subsidy Scheme) for MIGRs.04 lakh

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