Over the past few years, the number of people applying for a home loan under PMAY has increased significantly. The government’s scheme provides a subsidy on the home loan interest rate, which makes loan affordable for the people. Read on to know more about how to apply for a loan under the PMAY scheme.

The Pradhan Mantri Awas Yojana is an affordable housing scheme that aims to provide a pucca housing unit to all Indian citizens. Under the scheme, the government has identified more than 2500 cities across 26 states to build more than 2 million new housing units.

Also, under the scheme, the government provides a subsidy on the home loan interest to encourage people to buy a new home and become homeowners. The amount of interest subsidy you receive varies based on the income category you belong. You can apply for a home loan under three categories, including LIG and EWS, MIG I and MIG II, to avail the PMAYbenefits.

Applying for Pradhan Mantri Awas Yojana online

To help the PMAY benefit seekers, the ministry of Housing and Urban Development has set up a simple online process, which involves filling up a two-page form. Here are the details of the form:

• Page 1

Here you must enter your Aadhaar number, and once it is verified, you can proceed to the next page. The ministry uses the Aadhar number to verify the applicant and for security purposes.

• Page 2

This page requires you to enter your personal information including your state and city of residence, the name of the head of the family, present residential address, and other such details.

You can apply for the PMAY under two categories, including:

• Benefit under other 3’ category

The PMAY benefits are divided into two categories based on the income group. If you belong to EWS (Economically Section), LIG (Low Income Group) or MIG (Middle Income Group), you can apply for the PMAY benefits 2020 under the ‘Other 3’ category. The annual income limitation for EWS is three lakhs, for LIG the yearly income of the household should not exceed six lakhs, and for MIG, the income cap is 18 lakhs per annum.

• Slum Dwellers

A slum is an area where about 60-70 families reside in a temporary or built-in house. Typically, the environment around the slums is unclean, and they don’t have access to basic needs like proper drinking water and sanitation facilities.

Steps to Apply for PMAY under ‘Other 3’ category

• Visit the official PMAY website –www.pmayis.gov.in
• Select the ‘Benefit Under other 3 components’ option under the citizen assessment tab on the top right.
• Enter your Aadhaar details and click submit.
• After your information is verified, you will be re-directed to a new page where you must provide personal information regarding income, family members, current address, contact number, caste, religion, etc.
• After you fill the necessary details, enter the captcha code in the box and submit the form. But, before you submit, make sure to review the details again and check if the information is correct.

Steps to Apply for PMAY under ‘For Slum Dwellers’ category

• Visit the PMAY website and select the ‘for slum dwellers’ option under the citizen assessment tab
• Enter your Aadhaar details and submit (the site will verify your Aadhaar number)
• If the information is correct, you will then be directed to fill a form wherein you must enter personal details like name, address, contact number, caste, religion, and income.
• After you enter the details, enter the captcha at the bottom and click the submit button to complete the application process.