How To Apply Pradhan Mantri Awas Yojana In LIC Housing?

Affordable Rental Housing Complexes (ARHCs), introduced by the Ministry of Housing and Urban Affairs as a part of the Pradhan Mantri Awas Yojana-Urban (PMAY-U), seek to provide reasonably priced rental housing in close proximity to workplaces for urban migrants and economically vulnerable individuals in both the industrial sector and the informal urban economy.

What is the Pradhan Mantri Awas Yojana?

Launched in June 2015, the Pradhan Mantri Awas Yojana (PMAY) by the Indian government aims to enhance housing affordability for economically weaker segments. The scheme provides eligible applicants with interest rate subsidies on home loans, aiding their first house purchase. Subsidy amounts vary across economic categories. The initiative is categorised into PMAY Urban, encompassing around 4,331 towns and cities, and PMAY Gramin, formerly Indira Gandhi Awas Yojana, targeting affordable housing in rural India, excluding Chandigarh and Delhi. The ambitious scheme’s objective is to construct nearly 20 million affordable houses by March 31, 2022.

How to apply for Pradhan Mantri Awas Yojana Hassle Free

Step 1: Go to the PMAY website.

Access the PMAY website and log in using your credentials.

Step 2: Opt for ‘Citizen Assessment.

Choose the ‘Citizen Assessment’ option and select from the given choices: For Slum Dwellers’ or ‘Benefits under Other 3 Components.’

Step 3: Input your Aadhaar number.

Enter your Aadhaar number in the following step.

Step 4: Complete Personal Information

On the redirected page, you need to complete the application form by providing details like your name, contact number, income details, and bank account information.

Step 5: Input CAPTCHA

Once the form is filled out, input the CAPTCHA code and click ‘Save.’

Step 6: Generate a Printed Copy

You have the option to generate a printed copy of the application form.

Alternatively, you can also opt for the offline PMAY application. To apply offline, visit a Common Service Centre, where you’ll receive the application form. Complete the form and submit it along with a payment of Rs. 25 plus GST.

 
Required documents for Pradhan Mantri Awas Yojana

For Salaried Individuals:

• Validating Identity: PAN card, AADHAR card, passport, driving license
• Confirming Address: AADHAR card, Voter card, any life insurance policy, property tax payment receipt, etc.
• Demonstrating Income: Bank statement (last 6 months), recent salary slips (last 2 months), ITR receipts, Property Registration Certificate, sales deed, copy of builder payment receipt

For Self-employed Individuals:

• Confirming Identity: PAN card, Aadhaar card, passport, driving license
• Verifying Address: Bank statement, Aadhaar card, rent agreement, voter card, life insurance policy
• Establishing Business: Establishment certificate, trade license, SSI registration, PAN card, VAT registration, factory registration certificate, sales tax receipt, partnership deed, registration number issued by ROC

Criteria for Home Loan

The PMAY programme is based on their earnings:

• Economically Weaker Section (EWS): Annual income ≤ Rs. 3 lakh, avail benefitsThe Lower Income Group (LIG) is eligible for benefits if their annual income falls within the range of Rs. 3 lakh to Rs. 6 lakh.
• Middle Income Group (MIG) 1: Income > Rs. 6 lakh and < Rs. 12 lakh, avail up to Rs. 9 lakh loan

Middle Income Group (MIG) 2: Income between Rs. 12 lakh and Rs. 18 lakh, get a Rs. 12 lakh loan