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Online application forms in Pradhan Mantri Awas Yojana 2022 are being accepted through the official website of PM Awas Yojana 2022-23 pmaymis.gov.in. The online application process for Pradhan Mantri Awas Yojana is very simple and here we will guide you how to apply online for Pradhan Mantri Awas Yojana 2021
Pradhan Mantri Awas Yojana
The “Credit Linked Subsidy Scheme” (CLSS) under Pradhan Mantri Awas Yojana (PMAY) was announced by our Honourable Prime Minister Shri Narendra Modi. The scheme envisages the vision of housing for all by the year 2022. ICICI Bank offers “Credit Linked Subsidy Scheme” under Pradhan Mantri Awas Yojana. Under this scheme, interest subsidy on purchase/ construction/ extension/ improvement of house is provided to customers belonging to Economical Weaker Section (EWS)/Lower Income Group (LIG)/Middle Income Group (MIG).
• The scheme is offered to families, comprising of husband, wife and unmarried children. (An adult earning member irrespective of marital status can be treated as a separate household in MIG category)
Credit Linked Subsidy Scheme – EWS / LIG
Scheme: Under this scheme credit linked interest subsidy @ 6.50% for 15-20 years or actual tenor of the loan, whichever is lower, will be provided to the eligible beneficiaries in EWS/LIG category by the Government of India.
• Applicants belonging to LIG(Low Income Group) & EWS (Economically Weaker Sections) section. The EWS/LIG categories are defined as follows:
• EWS households with an annual income upto Rs. 3.00 lacs
• LIG households with an annual income between Rs. 3.00 lacs to Rs. 6.00 lacs
• Maximum subsidy of Rs. 2.67 lacs is eligible
Credit Linked Subsidy Scheme – MIG
• Government of India under the aegis of the Ministry of Housing and Urban Poverty Alleviation (MoHUPA) has launched ‘Credit Linked subsidy Scheme (CLSS)’ for Urban Areas under the ambit of Pradhan Mantri Awas Yojana.
COVERAGE & ELIGIBILITY
The ownership of the house should either in the sole name of the female member of the household or joint ownership with the wife. However, this condition will not be made mandatory in cases of construction of house on an existing plot or extension/renovation of existing Kuccha/Semi-pucca house
• The beneficiary family should not own a pucca house
PMAY CLSS Eligibility
• The Household with an annual income from Rs 6,00,001 to Rs. 12 lacs for MIG-I
• The household with an annual income from Rs 12,00,001 to Rs. 18 lacs for MIG-II
• In case of married couple, either of the spouses or both together in joint ownership will be eligible for a single house subject to income eligibility of the household under the scheme.
• The beneficiary family should not own a pucca house (an all-weather dwelling unit) either in his/her name or in the name of any member of his/her family in any part of India.
• The carpet area of house under this Scheme should be up to 160 sq. mts. for MIG-I beneficiaries and up to 200 sq. mts. for MIG-II beneficiaries.
• Banks shall have to submit a consolidated certificate on completion of the housing unit within one year period from the completion of construction or a maximum of 36 months from the date of the disbursement of the 1st installment of the loan amount. In case of default in not providing utilization/end use certificate the Bank shall refund the amount of subsidy to the CNA.
• In case a borrower who has taken a Home Loan under the Scheme and has availed interest subvention benefit under the Scheme but later on switches to another Bank, such beneficiary will not be eligible for the benefit of interest subvention again.
• Home Loan under this scheme will be available by way of Term loan and Maxgain (for loan limits of Rs. 20 lakh and above) with a maximum tenor of 30 years. However, subsidy is available for a maximum tenor of 20 years only.
• Major earning son / daughter can also own a house & avail subsidy separately for their 1st home. In case of EWS / LIG loan sanctioned on or after 27th June, 2017 will be eligible for the same.
• Carpet Area: The net usable floor area of an apartment, excluding the area covered by the external walls, but includes the area covered by internal partition walls of the apartment.
• Applicable in case of Repair and Renovation
• Subsidy % from 3% – 6.50%
Home Loan subsidy under PMAY
Subsidy upto 2.67 Lacs under Pradhan Mantri Awaas Yojana for Home Loans from SBI, ICICI, HDFC, Citi Bank, Axis Bank & other top Home Loan Providers in India Pradhan Mantri Awas Yojana The “Credit Linked Subsidy Scheme” (CLSS) under Pradhan Mantri Awas Yojana (PMAY) was announced by our Honourable Prime Minister Shri Narendra Modi. The scheme envisages the vision of housing for all by the year 2022. Under this scheme, interest subsidy on purchase/ construction/ extension/ improvement of house is provided to customers belonging to Economical Weaker Section (EWS)/Lower Income Group (LIG)/Middle Income Group (MIG).
The carpet area of house under this Scheme should be up to 160 sq. mts. for MIG-I beneficiaries and up to 200 sq. mts. for MIG-II beneficiaries.
Subsidy percentage ranges from 3% – 6.50%