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Prime Minister of India announced Pradhan Mantri Awas Yojana on 25th June 2015. It’s a scheme that aims to provide with quality but affordable houses to citizens of India. This scheme is devised to help people who can’t afford to buy a house. Pradhan Mantri Awas Yojana is an opportunity for all such people to own their house at a reasonable price with the subsidy provided by the Government of India.
Women, People belonging to Scheduled Casts (SC), People belonging to Scheduled Tribes (ST) and Economically Weaker Section (EWS) are eligible to apply for this scheme. One may apply online to avail of this scheme as well.
Also known as Housing for All, this Scheme is proposed to be completed in three phases. Its first phase will be completed in 2017, second in 2019 and the last phase will complete in 2022 thereby providing housing to all. All banks, be it nationalized or private, are providing information regarding the scheme. You may contact your bank’s branch to know more about the Pradhan Mantri Awas Yojana.
Wanting to claim a home of your wish? Purchase your home under the Pradhan Mantri Awas Yojana PMAY plan. You should simply decide the area where you need to purchase your home, pick the manufacturer and the bank or establishment that will furnish you with the home credit. The Pradhan Mantri Awas Yojana 2018 means to give lodging to all. In this manner, the individuals who officially possess a home or any of their relatives claim a home can't use the advantages of PMAY 2018.
As per its (PMAY) law, the recipient family must not possess a pucca house somewhere else and the recipient family ought not to have taken assistance under any lodging plan from Government of India. A recipient family comprises of spouse, wife, unmarried children and additionally unmarried girls.
| Particulars | MIG I | MIG II |
|---|---|---|
| Household annual Income | Rs. 6-12 Lakh | Rs. 12-18 Lakh |
| Eligible Loan Amount for Interest Subsidy | Rs. 9 Lakh | Rs. 12 Lakh |
| Interest Subsidy | 4% | 3% |
| Dwelling Unit Carpet Area | 90 Sq. mtr | 110 Sq. mtr |
| Max loan tenure (in yrs) | 20 | 20 |
| NPV Subsidy | Rs. 2.35 Lakh | Rs. 2.30 Lakh |
Scheme Name : Pradhan Mantri Awas Yojana
Launch Date : 25th June, 2015
Estimated Time for Completion : 7 years (2022)
Primary Objective : Providing affordable houses to Indian citizens
Number of Houses to be Built : 2 crores +
Primary Target Group : Poor people of India belonging to LIG and EWS groups. LIG stands for low income group and EWS stands for Economically Weaker Sections
Primary Target Area : LIG and EWS people of urban areas
Scope of Scheme : Across India
Previous Name : Housing for All scheme
Launched by : Prime Minister Narendra Modi
What to Expect ? Development and completion of affordable houses under the scheme.
Target Date of Start : April 2015
Target Date of Ending : March 2017
Number of Cities Targeted : 100 cities in India
What to Expect ? Development and completion of affordable houses under the scheme.
Target Date of Start : April 2017
Target Date of Ending : March 2019
Number of Cities Targeted : 200 cities in India
What to Expect ? Development and completion of affordable houses under the scheme.
Target Date of Start : April 2019
Target Date of Ending : March 2022
Number of Cities Targeted : All remaining cities in India
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Disclaimer :The information provided herein have been collected from publicly available sources, and is yet to be verified as per RERA rules. The information sources used here include onsite interviews, marketing material and other information sources on the internet. These data have not yet been verified against authentic documents, and are only indicative of the actual situation of this property, project or land holding, and their ownership. At SMC, we provide this information to help our users find publicly available data in a structured format. We are in the process of connecting with the relevant owners and verifying the data as per the provisions of the Real Estate (Regulation and Development) Act, 2016. We will keep updating the information here regularly. Further we does not intent to market or sell any project by providing this information, please consider this data and information as indicative and use your judgement and verify any information before making any decision.
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