PM Awas Yojana 2024: Prime minister recent announced good news for people. If you are interested in this scheme. Than you can apply this scheme, people can get the benefit of up to ₹ 1.50 lakh to ₹ 2.67 lakh financial help. We have given complete information about PM Awas Yojana 2024 Benefits, Eligibility.
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PM Awas Yojana 2024 Scheme Details
Table of Contents
| Yojana Name: | Pradhan Mantri Awas Yojana (PMAY) |
| Form Start Date: | March 2024 |
| Last date: | December 2024 |
| Official Website: | 👉 https://pmaymis.gov.in/ |
PM Awas Yojana, Assistance amount
As of 2024, the Pradhan Mantri Awas Yojana (PMAY) offers financial assistance to help people build or purchase homes under both its urban (PMAY-U) and rural (PMAY-G) components. Here’s a breakdown of the financial assistance provided:
1. PMAY-U (Urban)
For beneficiaries in urban areas, the scheme provides subsidies on home loan interest rates, aimed at making home ownership more affordable.
- Interest Subsidy: Up to 6.5% interest subsidy on home loans for a tenure of up to 20 years.
- Subsidy Amounts:
- Economically Weaker Sections (EWS) and Low-Income Groups (LIG):
- For EWS: Income up to ₹3 lakh per annum.
- For LIG: Income between ₹3 lakh and ₹6 lakh per annum.
- Middle-Income Groups (MIG):
- MIG-I: Income between ₹6 lakh and ₹12 lakh per annum.
- MIG-II: Income between ₹12 lakh and ₹18 lakh per annum.
- The subsidy amount is capped and depends on the loan amount and income group.
2. PMAY-G (Gramin/Rural)
For beneficiaries in rural areas, the scheme provides a direct financial subsidy for constructing or upgrading houses.
- Subsidy Amount:
- For New House Construction: ₹1.2 lakh to ₹1.6 lakh per house (the amount varies by state and location, with higher amounts in difficult and remote areas).
- For Upgradation of Existing Houses: Similar subsidy amounts apply for upgrading or improving existing rural homes.
General Eligibility Criteria:
- Beneficiaries must not own any pucca house (permanent structure) in their name.
- The family should be without a proper housing facility.
- The household should fall within the income limits specified by the scheme.
Additional Information:
- Beneficiary Selection: Housing will be allocated based on a rigorous selection process, including a priority list for various categories like SC/ST, women, and elderly persons.
- Implementation: Funds are disbursed directly to the beneficiaries or their banks, depending on the project’s progress and completion.
For the latest and most specific information regarding financial assistance under PMAY, it’s advisable to check the official PMAY website or consult local authorities managing the scheme.
Benefits of PM Awas Yojana
Ten key benefits of the Pradhan Mantri Awas Yojana (PMAY):
- Affordable Housing: Provides financial assistance to make homeownership more accessible for low and middle-income families.
- Interest Subsidy: Offers up to 6.5% interest subsidy on home loans, reducing the cost of borrowing.
- Housing for All: Aims to provide affordable housing to every Indian citizen by 2022.
- Support for Rural Areas: Assists with constructing or upgrading homes in rural regions with significant subsidies.
- Urban Development: Focuses on improving housing conditions in urban slums and low-income neighborhoods.
- Streamlined Process: Simplifies the application and approval process for housing loans and subsidies.
- Inclusion of Women: Encourages women’s ownership by allowing them to be joint owners of the property.
- Improved Infrastructure: Contributes to the development of basic infrastructure like roads, water, and sanitation in new housing projects.
- Economic Growth: Stimulates job creation and economic development through construction activities and associated industries.
- Priority to Vulnerable Groups: Provides priority to marginalized and economically weaker sections, including SC/ST, elderly, and differently-abled individuals.
These benefits collectively aim to enhance the quality of life and promote inclusive development across India.
PM Awas Yojana 2024, Eligibility
Eligibility criteria for the Pradhan Mantri Awas Yojana (PMAY) in 2024:
Income Limits:
- EWS: Annual household income up to ₹3 lakh.
- LIG: Annual household income between ₹3 lakh and ₹6 lakh.
- MIG-I: Annual household income between ₹6 lakh and ₹12 lakh.
- MIG-II: Annual household income between ₹12 lakh and ₹18 lakh.
- Housing Criteria: Must not own any pucca house (permanent structure) in the applicant’s name.
- Citizenship: Must be an Indian citizen and a resident of the area where the application is made.
- Age: All adults in the household should be at least 18 years old.
- Priority Groups: Preference is given to women, SC/ST, elderly, and economically weaker sections.
- Documentation: Requires valid Aadhaar card, proof of income, and proof of existing housing conditions.
PM Awas Yojana 2024 Important Documents
1. Proof of Identity
- Aadhaar Card: Essential for verification and linking with the scheme.
2. Proof of Income
- Income Certificate: Issued by a government authority or self-declaration if applying under EWS, LIG, MIG categories.
- Salary Slip: For salaried individuals.
- Tax Returns: For self-employed individuals.
3. Proof of Residence
- Address Proof: Such as utility bills, rent agreement, or property tax receipt.
4. Proof of Existing Housing
- Current House Details: Proof that you do not own a pucca house in your name.
5. Bank Account Details
- Bank Account Number and IFSC Code: For subsidy and loan disbursement.
6. Photographs
- Passport-sized Photographs: Recent photographs of the applicant(s).
7. Application Form
- Completed Application Form: Available on the PMAY website or local government offices.
8. Proof of Family Composition
- Family Details: Documents like ration card or family ID, which might list family members and their relationship.
9. Other Supporting Documents
- Property Documents: If applying for an existing property upgrade or construction, relevant property documents might be required.
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