PMAY Gramin/Rural Scheme: Features, Eligibility Criteria, Documentation

PMAY Gramin/Rural Scheme

Pradhan Mantri Awas Yojana is a government initiative that was launched in the year 2015 to extend affordable housing to the financially weaker sections of the society. As per reports, 32 lakh houses have been extended to beneficiaries under this scheme in both rural and urban areas.

Under this scheme, applicants who meet the Pradhan Mantri Awas Yojana eligibility criteria would avail substantial subsidy on their home loan interest rates. Consequently, to become a beneficiary under the Pradhan Mantri Awas Yojana, interested individuals should find out about the housing scheme in details.

Features of PMAY

These pointers below highlight features of PM Awas Yojana –

  • Under this housing scheme, eligible applicants are entitled to avail a discount of up to 6.5% p.a. on their home loan interest rates that come with a tenor of 20 years.
  • Senior citizens and differently-abled applicants are mostly given the advantage of securing a ground floor accommodation.
  • Eco-friendly and sustainable resources and technology is used for the construction of accommodations under this housing for all scheme.
  • To become a beneficiary of this scheme, the property must be co-owned with at least one female family member.
  • The scheme is functional in both rural and urban areas of India.

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PMAY Eligibility Criteria

After checking the basic features of PMAY, proceed to know the PMAY eligibility criteria. In the broad sense, the PMAY has been designed to benefit –

  • Women.
  • Scheduled caste and Scheduled Tribe.
  • Low-income group.
  • Medium Income Group 1 and 2.
  • Economically weaker section.

Regardless, applicants who would fulfil these Pradhan Mantri Awas Yojana eligibility criteria would be more likely to benefit from this scheme –

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  1. Residing Indian citizens.
  2. Differently-abled and senior citizens.
  3. Families with an annual income between Rs.6 lakh and Rs.18 lakh.
  4. Neither applicants nor their family members should own a pucca house in India.
  5. The property in the question should be situated in any of the statutory towns mentioned under the 2011 consensus.

Notably, applicants who are already a beneficiary of any state or central offered housing facilities would fail to meet the PMAY eligibility

Documentation Process of PMAY

Once you have gained a fair idea of how this credit linked subsidy scheme (CLSS) works, proceed to find out the required set of documents.

For instance, to complete the documentation process applicants need to attach a copy of these documents –

  1. KYC documents that serve as proof of identity and address.
  2. Salary slips.
  3. Latest bank statements.
  4. Income Tax Returns.
  5. Sale deed.
  6. Sale or purchase agreement.

Additionally, find out if you need to provide an additional set of documents to the financial institution to support your Pradhan Mantri Awas Yojana eligibility.

Individuals can apply online by visiting PMAY Gramin or Rural official website and provide the required information. Alternatively, individuals can also apply for the scheme offline and submit the application form at the nearest Common Service Centre (CSC). Notably, the online method is the more preferred option of the two as it is less cumbersome and requires less time to complete.

Therefore, once individuals have obtained a fair idea about features and have checked their Pradhan Mantri Awas Yojana eligibility, they can apply for it quickly. Regardless, to streamline the process more effectively, they should submit all the required documents and find out about the application process beforehand.

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