Everyone knows how difficult it is to buy a house in India in 2021. Citizens are struggling to make ends meet, whether for basic employment, education or healthcare. Even then some people aspire to build their dream home.

So, if you are a dreamer who wishes to build your own house, you should take advantage of the PMAY scheme. The PMAY scheme has been launched to give home loans on interest subsidy to everyone not having an annual family income of more than INR 18 Lakhs.

However, before applying to avail of the benefits of this scheme, you must check your PMAY eligibility. There is a set parameter for those who can avail of this scheme.

PMAY Eligibility Criteria

• PMAY scheme is available to particular categories of applicants who belong to different income groups.
• The categories are Low Income Group (LIG), Middle Income Groups (MIG1 and MIG2), Economically Weaker Section (EWS), women, differently-abled, minorities and elderly.
• The beneficiary of PMAY can be an individual as a husband, wife, or daughter or son.
• The beneficiary should not own any kind of “pucca” (concrete) house in any part of India.
• Should not be availing of any other housing-related scheme of the government of India.

Category-wise PMAY Eligibility

The PMAY can be utilised by people belonging to the Low Income Group (LIG), and Middle Income Groups (MIG1 and MIG2) and Economically Weaker Section (EWS). Let’s check the category wise eligibility criteria.

Eligibility Criteria for EWS and LIG

• The applicant in this category should have their annual family income from all sources between 3 Lakh INR and 6 Lakh INR.
• The maximum subsidy on loan can be availed only up to 2.67 Lakh INR.
• The rate of interest for this category is set at 6.5 %.
• The tenor for disbursing the loan amount can be extended up to 20 years.
• There must be a female co-owner of the property to avail of the PMAY benefit.

Eligibility Criteria for MIG1 and MIG2

• This category includes middle-income group families.
• The annual family income of the applicants in this category should fall between 6 Lakh INR AND 12 Lakh INR (for MIG1) and 12 Lakh INR AND 18 Lakh INR (for MIG2).
• The maximum subsidy that the applicant can avail of is up to 2.67 Lakh INR.
• The tenor provided for disbursing the amount is up to 20 years.
• The rate of interest for MIG1 is 4%, whereas it is 3% for the MIG2 category.

Additional Eligibility Criteria for PMAY

• Every family member of the beneficiary should own an Aadhar Card.
• Updated mobile numbers of the family members are necessary.
• The property should be approved and follow appropriate standards as decided and supervised by competent authorities.
• There should be no capping on the property cost or the loan amount.
• A female owner must be specified in the case of the Low Income Group (LIG) and the Economically Weaker Section (EWS).

Documents Required to Apply

To apply for the benefits of PMAY, the following documents are needed. Please make prior arrangements for all these documents for a hassle-free experience. Here’s the list of the documents.

• Completed application form with signatures.
• All the documents of the property such as deed of sale, allotment letter, NOC from the builder or the society, the sale agreement, etc.
• Your address proof. Passport, Aadhar card, Voter ID Card, Utility Bill can be treated under address proof.
• Your Identity Proof. Aadhar Card, Driving License, Passport, PAN Card etc can be regarded as proof of identity.
• Income documents-
  • If self-employed, you need to show the Balance Sheet, IT returns, Profit & Loss amount, computation, etc.
  • If you’re a salaried employee, you have to show 6 months’ salary slip, Form 16, latest 6 months’ bank statement etc.

PMAY List

The Ministry of Housing and Urban Affairs has published the list of beneficiaries of PMAY 2020-21. You can check your name on the list if you’ve already applied by going to the official website of Pradhan Mantri Awas Yojana (PMAY). Check PMAY List to Avail of a Subsidy on Your Existing Home Loan

You need to have a reference number which you would have got after successfully completing the application.

• Browse the official website of PMAY.
• Click on the ‘Stakeholder’ option.
• Now click on the option: ‘IAY/PMAYG Beneficiary’
• Search your name in the list.

If you have a reference number, then follow the steps below to check your name in the PMAY list.

• Enter your registration number in the column.
• Click submit button.
• Your details would be shown on the screen.

If you do not have a registration number, then

• Select the ‘Advanced Search’ option.
• Provide details of your District, Block, Panchayat and state.
• Now provide additional details, such as
  • Your N=name
  • Father’s/ Husband’s name
  • BPL number
  • Sanction order
• Click the ‘Search’ button to find your name on the list.

So, this is how you can check your PMAY Eligibility. Ensure you fulfil all the conditions to enjoy the PMAY benefits.