The Pradhan Mantri Awas Yojana (PMAY), a separate initiative of the central government, is a subsidy program that aims to provide housing for all by the year 2022. financial support for building, purchasing, repairing, or adding to their homes.
If you wish to take advantage of the Pradhan Mantri Awas Yojana program, make sure you meet the PMAY eligibility requirements before applying for the PMAY 2021-22.
Pradhan Mantri Awas Yojana (PMAY) 2021 How to Qualify
If you match the following criteria, you may be eligible for this program:
You and your family are not allowed to own property in any state of the country.
To qualify for the PMAY program, your annual income must not exceed Rs. 18 lakhs.
PMAY benefits cannot be applied to an already built residence.
Your family should not have received any central support from the Indian government under any housing program.
All official cities and towns announced after the 2011 census will be able to be included in the program, according to the 2011 Census.
If you are an adult or have a disability, you will be given affordable housing first.
If you are married and applying for a joint application, it could be you or your spouse who is eligible for the grant.
Pradhan Mantri Awas Yojana (PMAY) 2021 Home Loan Grants
The PMAY Committee determines the following terms of support for each group:
Middle Income Group (MIG-1)
If your annual household income is less than Rs. 12 lakhs, consider MIG-1. For the construction of your home, you can get a Home Loan of up to Rs. 9 lakhs.
Group II (Medium Income) (MIG-2)
You fall into the MIG-2 category if your annual income is between Rs. 12 and Rs. 18 lakhs. Home loans amounting to Rs. 12 lakhs can be obtained from you. In addition, you have to fill a basic need. When writing your full household income, for example, you should include your spouse, wife, or unmarried children. In addition, no members should live in the same house.
Low Income Group (LIG)
This group applies to you if your annual income is between Rs. 3 lakhs and Rs. 6 lakhs. To use the benefits of the scheme, you must provide sufficient evidence.
Category on Lowest Impact Economic (EWS)
If your annual income reaches Rs. 3 lakhs, considered EWS. However, to use the benefits of the scheme, you must provide the government with the necessary evidence.
Steps to Evaluate the PMAY Eligibility PROCEDURE
Check if you meet Pradhan Mantri Awas Yojana eligibility requirements by following a few simple steps.
Step 1: Decide if anyone in your family owns a pucca house.
Step 2: Determine if your household income is less than Rs.18 lakh. To test the eligibility of PMAY, add your money and that of your partner together.
Step 3: To qualify for the benefits of PMAY, the user must purchase or invest in a new home.
Step 4: To get a subsidy, check that the construction of the home loan was completed within three years of the loan being paid.
Step 5: Check to see if the property is within the designated area.
Step 6: Find out if you or anyone in your family has benefited from a government-funded housing program. Once you have found your qualification, decide that you are eligible for Pradhan Mantri Awas Yojana and apply accordingly.
PMAY Document Requirements
The following documents are required to apply for Pradhan Mantri Awas Yojana:
Passport / Driving License / Health Insurance Policy / Birth Certificate / PAN Card / School Leaving Certificate Copy of Your Passport / Driver’s License / Health Insurance Policy / Birth Certificate / PAN Card / School Leaving Certificate
The accumulated affidavit of the beneficiary family must sign a declaration stating that they do not own a pucca house.
Development Agreement with a developer or builder, if applicable – Declaration of a construction site, if applicable Valuation Certificate for the property you want to obtain, receipt of minimum payment you wish to purchase
Aadhar / PAN Card / driver’s license / voter ID are examples of identity documents.
Bank Statements / Property Registration Documents / Property Tax Receipt / Voting ID
Proof of Payment Copy of Proof of Address (for each leading family) – Copy of payslips for the past three months / Nomination Letter / Annual Growth Book / Certified copy of Form 16
Proof of income – a copy of bank statements for the last six months of your salary account
Existing loan details will be provided in bank statements.
Check Payment Check – Will be provided from a payroll customer account or NOC company account from the Competent Authority or any Housing Corporation
Pradhan Mantri Awas Yojana 2021 EMI Calculator
You can also use the PMAY EMI Calculator to fully understand your monthly payment obligation and make informed and wise borrowing options. However, to use the Home Loan EMI calculator with PMAY support, you must first understand whether you are the heir of PMAY-U (Pradhan Mantri Awas Yojana – Urban) or PMAY-G (Pradhan Mantri Awas Yojana – Gramin).
You can use the Home Loan EMI Calculator to calculate PMAY grants quickly and quickly. To check the eligibility of PMAY online, simply follow the instructions below:
Enter the total income for the whole family.
To calculate the grant, select the appropriate time for the home loan. (Not more than 20 years)
To complete your PMAY interest rate eligibility check, enter the amount of your home loan.
Following these procedures, the total amount of support available to you will be calculated and displayed on your screen.
Home Loan Calculator allows you to quickly and accurately assess your eligibility for PMAY online.
Published by Pooja Jain