PMAY Housing Scheme 2020 – 100 Smart city, AMRUT & Housing for all. Application details for EWS, LIG Groups, Weaker sections, Subsidy for poor people in Hindi, English, Tamil, Telugu & PDF. Results & Places where these housing schemes will be start in coming years. Prime Minister Narendra Modi launched ambitious housing loan scheme. The schemes, aimed at developing cities and towns as “new engines for growth”, will entail an investment of over Rs. 3 lakh crore in the next five years. Under the Pradhan Mantri Awas Yojana, those belonging to the poor, lower middle and middle classes in cities will be eligible to 4 cent discount on housing loans upto Rs 9 lakh. Loans of upto Rs 12 lakh will receive interest subvention of 3 per cent.
Latest Update as on 27 March 2020: No EMI’s for 3 Months as per RBI. Your CIBIL Score will also not be impacted by this EMI waiver on your Personal / home/car loans. so your credit report will not take hit also but if you don’t pay interest will increase.
PMAY Housing Scheme Details
|Repayment Time||15 Years|
|Subsidy under CLSS-MIG(I)||2.35 lakh|
|Subsidy under CLSS-MIG(II)||2.30 lakh|
|No. Of Houses||2 Crore|
|Repayment Period||20 yrs|
Here are the key highlights of PMAY scheme:
- The service will be available through about 60,000 Common Service Centres (CSCs) located in urban areas.
- Application form will be available at a nominal cost Rs 25 each.
- Applicants filling the forms at the CSCs will be provided with an acknowledgement receipt.
- The receipt will carry a photograph of the applicant and will also help him/her know the status of the application.
- Aadhar Card is mandatory to apply for the scheme. Those without Aadhar Card can apply only after the procedure of verification is completed.
Pradhan Mantri Awas Yojana Scheme Interest Rates, Eligibility
As per Market Rates, Currently Home loan rates are running on 7.90% for women. According to this applicant have to pay Rs.950 per month for per lakh loan amount for 15 years repayment period. For an example if you taken a loan of 7 Lakh from Bank for PMAY Yojana than you have to pay 6,649 per month as an EMI. But Government provides a Subsidy of 3.00% on Loan. So the Final Interest rates on which a applicant taken a loan is come down to 4.90% (7.90% – 3.00%(Subsidy)). So after subsidy the loan emi per month reduced to Rs. 5,499. It means an applicant should save around 1150 Rupees per EMI.
Other Features of PMAY Yojana 2020
Central Grant of Rs 1 Lakh (Average) should be provided to the applicant
Subsidy on Interest rates will be provided to EWS & LIG Applicants via Credit Linked Subsidy Scheme (CLSS)
PMAY – CLSS TABULAR GUIDELINES
INTEREST RATES: The interest rates are as applicable for Home Loans in all Banks.
|Criteria||Existing Instructions(CLSS – EWS +LIG)||Revised Instructions (CLSS – EWS +LIG)||CLSS (MIG-I)||CLSS (MIG-II)|
|Household/ Annual Income (Rs)||Upto Rs. 6 lakhs||Upto Rs. 6 lakhs||Rs. 6.01-12.00 lakhs||Rs. 12.01-18.00 lakhs|
|Property Area (Carpet Area ## )||30/60 sqm*||30/60 sqm*||160sqm||200sqm|
|Location||17778 towns||17778 towns||Urban -2011*||Urban -2011*|
|Woman Ownership||Yes (except for construction)||Yes (except for construction)||NA||NA|
|Max Loan Amt for Subsidy||Upto 6 lakhs||Upto 6 lakhs||Upto 9 lakhs||Upto 12 lakhs|
|Subsidy Amount||Rs. 2.20 lakhs||Rs. 2.67 lakhs||Rs. 2.35 lakhs||Rs. 2.30 lakhs|
|Max term of loan (on which subsidy will be calculated)||15 yrs||20 yrs||20 yrs||20 yrs|
|Property should be Family’s||1st home**||1st home**||1st home**||1st home**|
|Applicability||Loans approved on/after 17/06/2015||Loans approved on/after 01/01/2017||Loans approved on/after 01/01/2017||Loans approved on/after 01/01/2017|
- *Applicable in case of Repair and Renovation
Cities Selected (2288 Cities (412 Class I cities) of 25 States)
|Name of State||No. of Cities|
|Jammu & Kashmir||25|
The project launched by PM Modi is named as the
Atal Mission for Rejuvenation and Urban Transformation (AMRUT)
Logo of the Schemes also launched by Shri Narendra Modi Ji at the announcement.
Smart City Housing Scheme will draw Rs.48,000 Crore in central grants over five Years.
AMRUT project will draw Rs.50000 crore from central grants in five years.
Housing-for-All by 2022 will see the government spend about Rs 3 lakh crore in the next seven years.
At the slum decadal growth rate of 34%, the slum households are projected to go upto 18 million. 2 million non-slum urban poor households are proposed to be covered under the Mission. Hence, total housing shortage envisaged to be addressed through the new mission is 20 million.
How to Apply for PMAY?
The scheme was launched by PM of India (Narendra Modi). As per Ministry of Housing, In this scheme some housing plans launched by State Govt & Some by Ministry or Developers. Once, the state governments will launch the schemes, the application forms will be made available to the desired applicants through Banks & govt. offices.
For further information on Pradhan Mantri Awas Yojana (PMAY), please log onto: www.mhupa.gov.in
Pradhan mantri awas yojana last date 2020
Last Date for pradhan mantri awas yojana is 31.03.2022, but in MIG Scheme its last date is 31.03.2020. Last date is eligible for all locations – Mumbai, Karnataka, West Bengal, Maharashtra, Gujarat, Punjab, Kerala, Delhi, Telangana, Mumbai, Lucknow etc.
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Find or Get Details in all languages about Pradhan Mantri Awas Yojana in Marathi, Hindi, English, Punjabi, Gujarati, Kannada, Oriya, Bengali, Assamese, bhojpuri and others.