PMAYG, or Pradhan Mantri Awas Yojana Gramin is an affordable housing scheme initiated by the Government of India in 2016. It is based on the objective of providing ‘housing for all’, especially for the rural and economically backward population by 2022. Over 1.14 crore houses have been built across the country under PMAY G.
Regardless, it must be noted that to be eligible as a beneficiary under this affordable housing scheme, individuals need to be aware of the categories of applicants, as well as the requirements, features and benefits of the same to streamline the process accordingly.
Feature of PMAY-G
In phase 2 of PMAY Gramin (2019-2020 and 2021-2020) around 1.95 crore houses are to be constructed in rural areas. Other than that, these following are among the most noteworthy features of this housing scheme –
- Unit size: The unit size will be at least 25 sq. m and will include basic amenities like a kitchen and toilet. It is one of the key benefits of Pradhan Mantri Awas Yojana.
- Sharing pattern: For plains, the cost of construction will be in the ratio of 60:40 between the central and the state government. On the other hand, the said ratio is 90:10 in case of hilly terrains of the Union Territories of Jammu and Kashmir, North-Eastern and Himalayan States. However, for the union territories and newly formed territory in Ladakh, the entire construction will be financed by the central government.
- Unit assistance: Eligible candidates located in plains will receive Rs.1.20 lakh; whereas, the ones located in hilly regions, IAP districts and other difficult areas will avail Rs.1.30 lakh as funds from the government.
- Construction quality: Houses built under PMAY – G will be made of eco-friendly materials made locally, constructed by skilled masons to ensure highest quality.
- Assistance for construction: The pay-outs will be sent to the beneficiary’s Aadhaar-linked bank account or accounts held at the local post office. Also, the beneficiaries of PMAY-G are entitled to avail a home loan (a maximum of Rs.70,000 is allocated) under this scheme.
It must be noted, the beneficiaries of Pradhan Mantri Awas Yojana Gramin are selected with the help of parameters of socio-economic and caste census that are verified by Gram Sabhas.
Eligibility Criteria of PMAY Rural
Individuals should know the PMAY eligibility criteria to find out if they can become a beneficiary of this scheme or not. Following are some of the eligibility criteria for this scheme.
- Families who do not own a house.
- Families who own a kutcha house with one or two rooms.
- Households that do not have a literate member above the age of 25 years.
- Households that do not have any adult male member between the age of 16 years and 59 years.
- Landless individuals whose source of income is limited to casual labour.
- Minorities, Scheduled Caste and Scheduled Tribe.
It must be noted that a government employee with an income of Rs.10,000 per month, a tax-paying member or any individual with a Kishan Credit Card limit of over Rs.50,000 are not qualified for PMAYG.
In case applicants do not meet these stringent requirements they can avail financial assistance from leading HFCs that extend housing loans at attractive rates of interest. However, one must ensure to pick a financial institution that is transparent about its charges and extends flexible repayment terms.
These leading financial institutions provide lucrative pre-approved offers which make the experience of availing a housing loan smooth and hassle-free. Typically, such offers accompany top financial products like home loans and loans against property. You can check your pre-approved offer in 3 seconds with the help of your name and contact number.
While at it, individuals should make it a point to find out about home loan tax benefits for under-construction property to maximise savings on loan repayment.
Individuals need to produce these following documents to apply for PMAY Gramin –
- Aadhaar number
- Bank details
- Job card number (in case the beneficiary is registered with MGNREGA)
- Swachh Bharat Mission number
Individuals can get in touch with their ward members or visit Gram Panchayat to apply for PMAY-G. On getting registered with the PMAYG, individuals can check the Pradhan Mantri Awas Yojana rural list by referring to their allocated registration number.
To initiate the same, one needs to visit the PMAYG’s official website, click on the stakeholder’s option and select the PMAY Beneficiary option from the available drop-down menu. Once, individuals have all this information in order; they can proceed to apply for this affordable housing scheme.