You Must Be Aware of PMAY Housing For All Scheme-2021


The Pradhan Mantri Awas Yojana, or PMAY, is a scheme launched by the Government in 2015. The motto associated with it was “Housing for All” by 2022. This PMAY scheme was launched both for rural and urban areas of the country. 

This initiative is primarily targeted to offer affordable housing to the lower-income groups of society. Moreover, it offers eligible beneficiaries a subsidized interest rate on their home loan. 

Individuals must know about this scheme in-depth to reap its benefits, starting with its features to the documentation process. 

What are the features of PM Awas Yojana? 

Following are some of the critical features of this credit linked housing scheme. 

  • This scheme mandates the usage of eco-friendly material to build houses. 
  • Individuals can avail a home loan at a subsidised interest rate for a tenor of 30 years. 
  • Under PMAY, one can receive ground floor accommodation for senior citizens and differently-abled individuals. 
  • Under this scheme, a woman co-owner can receive additional benefits.

Understanding these specifications will allow individuals to evaluate how the credit-linked subsidy scheme works. 

What is PMAY eligibility?

Individuals who want to avail the benefits of the Pradhan Mantri Awas Yojana scheme need to fulfil specific eligibility criteria. 

These include – 

  • The beneficiary should not be a recipient of any other housing scheme offered by the government.
  • He/she must not own a pucca house in any part of the country.
  • Households with an annual income of up to Rs.18 lakh are eligible to apply for this Pradhan Mantri Awas Yojana scheme. 

In case you fail to meet these requisites, you can alternatively opt for a home loan from a trusted HFC that offers credits against simple eligibility. 

These financial institutions also extend pre-approved offers that simplify loan processing and make it prompt. Such offers are available on a range of financial products like loans against property, home loans and many more. Check your pre-approved offers by providing your name and contact number.

Individuals should also need to know about the application process to make the most of PMAY benefits. 

What is the application process of the PMAY scheme?

Following is the step-by-step guide to applying for Pradhan Mantri Awas Yojana online. 

  1. Visit the official website of PMAY’s website.
  2. Open the “Citizen Assessment” tab and choose the category that matches your financial background. 
  3. After selecting the income category, one has to enter the Aadhaar details. 
  4. On the redirected page, fill up PMAY’s application form with personal, professional and financial information. 
  5. Enter the captcha code and click on the “Submit” option. 
  6. After successful submission, you will receive an application number.

To complete PMAY registration, beneficiaries also have to submit documents to avail funds through this scheme. 

This process streamlines the fund disbursal and provides benefits of Pradhan Mantri Awas Yojana. 

What are the documents required for this scheme?

Following documents are vital to avail the funds under this scheme. 

  • Aadhaar card
  • Proof of annual income like salary slips, bank account details, etc.
  • Identity proof
  • Address proof
  • Relevant caste certificate for ST and SC

Thus, Pradhan Mantri Awas Yojana fulfills the dream of individuals planning to purchase a residence. This scheme facilitates availing a subsidized home loan interest rate. However, one must read through the updated regulations before applying for a home loan under the PMAY scheme.