Pradhan Mantri Awas Yojana Gramin List 2022 | pradhan mantri awas yojana gramin | Awas Yojana Online Registration
The prime minister of India,Mr. Narendra Modi has launched various kinds of social security schemes in recent few years. This is again one of the most famous schemes from the Government of Prime Minister Narendra Modi of the country.PMAY stands for Pradhan Mantri Awas Yojana, a scheme designed to enable housing for all, including the middle class. To know about this Pradhan Mantri Awas Yojana you have to read this article thoroughly.
What is CLSS? And what’s the other jargon – MIG, LIG, EWS, etc?
- CLSS stands for Credit Linked Subsidy Scheme where the government chips in to reduce your Home Loan Burden.
- MIG 1: Middle Income Group (Income – INR 6 lac to INR 12 lac per annum)
- MIG 2: Middle Income Group (Income – INR 12 lac to INR 18 lac per annum)
- EWS: Economically Weaker Sections (Income – up to INR 3 lac)
- LIG: Low Income Group (Income – up to INR 6 lac)
Benefits of CLSS under PMAY
- In this scheme you can make a huge Savings on your Home Loan Interest Rates! If you’re out to buy your first home,
- You can SAVE an amazing 4% in terms of interest for a loan of up to 9 lacs if your income is up to INR 12,00,000 per annum (you will fall under the CLSS MIG 1 Category)
- You can SAVE a cool 3% interest for a loan up to 12 lac if your income is from INR 12,00,000 to INR 18,00,000 per annum (you will fall under the CLSS MIG 2 Category)
- Income lower than INR 6,00,000? Then the Savings are even more substantial! A massive 6.50% interest concession awaits on loans up to 6 lac. (You will fall under the CLSS EWS/LIG Category)
The eligibility criteria of these schemes are:
- You or your immediate family (spouse and unmarried children) do not own a ‘pucca’ home anywhere in India. (you qualify, even if your parents own a home and you stay with them)
- up to INR 6,00,000 per annum [to avail CLSS: EWS (Economically Weaker Sections) or CLSS: LIG (Low Income Group)]
- INR 6,00,000 to INR 12,00,000 per annum [to avail CLSS: MIG 1 (Middle Income Group 1)]
- INR 12,00,000 to INR 18,00,000 per annum [to avail CLSS: MIG 2 (Middle Income Group 1)]
What’s the Tenure of a Home Loan under CLSS?
A maximum of 20 years will be the tenure of a Home Loan under CLSS.
- Limitations of the loan under PMAY:
- There is no limit on the loan amount (bank will determine the amount eligibility based on a variety of criteria).However,the subsidy benefit will be limited to a specific loan amount depending on the income category you fall under.
- Size restriction for Houses availed under PMAY CLSS?
- You can build or buy as large a house as you wish,but the PMAY will only cover you for a carpet area of 30 sq.
- m. for the EWS Category and 60 sq. m. for the LIG Category.
- Not at all! There is a zero processing fee for Home Buyers availing a Home Loan under PMAY CLSS.
Documents required for CLSS:
- You just need a document declaring that you do not own a ‘pucca‘ house. This is, of course, in addition to all other documentation typically required while a borrower applies for a Home Loan.
- Time to get a CLSS home loan approved:
If you match the eligibility criteria and have all the required documents, you can expect a quick approval from the lender.
How to apply for the PM Awas Yojana online in 2021?
- candidate with an Aadhaar card can apply for the benefits of the PMAY scheme.
- keep your Aadhaar number handy and visit the PMAY portal at
- the ‘apply online’ option under the ‘citizen assessment’ tab.
- four verticals for which you want to apply.
If you are applying for the CLSS subsidy, your application must be submitted to your home loan provider.
How to apply offline for PMAY in 2021?
Eligible candidates can obtain and fill forms in this regard available at common service centres (CSCs). They have to pay a nominal fee of Rs 25 plus GST on purchase of the PMAY subsidy form. CSCs are the access point to avail of essential public utility services in rural parts of India.
Number of homes sanctioned under PMAY-U till 2021
Till June 2021, the total number of sanctioned houses under the PMAY-U stood at 112.4 lakhs and the ground work for 82.5 lakh units had been laid. Of this, 48.31 lakh homes have been completed/delivered. The total investment under the PMAY-U is Rs 7.35 lakh crores, which has central assistance of Rs 1.81 lakh crores, of which funds to the tune of Rs 96,067 crores has been released.
How the subsidy under PMAY reaches you?
Once your application for subsidy under the PMAY programme is approved, funds are transferred from the central nodal agency (CNA) to the bank (referred to as prime lending institutions or PLI in government documents) from where the beneficiary has borrowed his home loan. The bank will then credit this amount to the home loan account of the borrower. This money will then be deducted from your outstanding home loan principal. So if you have received Rs 2 lakhs as the PMAY subsidy and your outstanding loan amount is Rs 30 lakhs, it would reduce to Rs 28 lakhs after the subsidy.
Last date to apply for PMAY CLSS subsidy
In May 2020, finance minister Nirmala Sitharaman said the last date of the Pradhan Mantri Awas Yojana Credit-Linked Subsidy Scheme for the MIG-1 and MIG-2 categories had been extended till March 31, 2021. For the LIG and EWS categories, however, the last date is March 31, 2022.