Filing for AY 2024-25 is coming soon
Filing for AY 2024-25 is coming soon
Keep calm and sign up for early access to our super filing platform

Pradhan Mantri Awas Yojana (PMAY) Scheme – Details

Updated on: Feb 1st, 2024

|

7 min read

Switch Language

social iconssocial iconssocial iconssocial icons

Latest Update:

Interim Budget 2024-25: In the Interim Budget 2024, the Finance Minister announced that 2 crore more houses will be taken up in the next 5 years. Under this scheme, the government is close to achieving the target of 3 crore houses.   

Budget 2023-24: In the Budget 2023, the outlay for the Pradhan Mantri Awas Yojana was enhanced by 66% to over Rs.79,000 crore. 

Pradhan Mantri Awas Yojana is a social welfare flagship programme of the Indian Government. It was launched by our honorable Prime Minister Shri Narendra Modi in 2015.

What is Pradhan Mantri Awas Yojana?

Pradhan Mantri Awas Yojana (PMAY) was launched with the aim to provide housing at an affordable price to the weaker sections of the society, lower income group people, urban poor, and rural poor. The Yojana involves a construction of around 20 million houses at an affordable price. In the Budget 2023, the outlay for the Pradhan Mantri Awas Yojana was enhanced by 66% to over Rs.79,000 crore. The Pradhan Mantri Awas Yojana has two components:

  1.  Pradhan Mantri Awas Yojana Urban (PMAY-U)
  2. Pradhan Mantri Awas Yojana Gramin (PMAY-G)

The scheme is also linked with other schemes like:

  • Swachh Bharat Abhiyan which aims at reducing open defecation by constructing in-house toilets and community-owned toilets and aims to maintain cleanliness around the streets, roads, and houses
  • Saubhagya Yojana which aims at providing electricity connection
  • Ujjwala Yojana which aims at providing LPG Gas connection
  • Accessibility of pure drinking water
  • Pradhan Mantri Jan Dhan Yojana which aims at opening a zero balance account and spreading banking facilities to each and every person in the society.

Components of PM Awas Yojana

The PM Awas Yojana has 4 major components:

  • In-Situ Redevelopment of slums using land as a resource, with the participation of the private sector. This mission aims at leveraging the potential of land under slum areas and providing formal urban establishments to slum dwellers.
  • .Credit Linked Subsidy –  Under this scheme, the government will provide an interest subsidy of 6.5% on housing loans for 15 years from the start of the loan, which will make housing affordable. The Net Present Value (NPV) of the interest subsidy will be calculated at a discount rate of 9%. The loan amount of Rs 6 lakhs is only applicable for the credit-linked subsidy scheme and any amount beyond Rs 6 lakh does not attract any subsidy. The lending institutions will directly credit the interest subsidy to the beneficiaries’ accounts which will result in reduced Equated Monthly Installment (EMI) and reduced housing loan amount.
  • Affordable Housing in Partnership (AHP) –  In partnership with the Public and Private sector, affordable housing will be provided to the economically weaker sections. The States or Union Territories, either with different agencies or in partnership with different industries can plan affordable housing projects.
  • Enhancement and construction of beneficiary led house –  Under this component, the beneficiaries who are not able to avail the advantages of the above three components will be benefited. This mission provides assistance to families of EWS category to construct new houses or enhance the existing houses on their own to cover the beneficiaries. Under this mission, families will get a central assistance of Rs 1.50 lakh to enhance their existing houses or construct new houses. Under the Pradhan Mantri Awas Yojana, the houses will be constructed with eco-friendly technology and preference will be given to old and disabled while allotting ground floors.

How to Apply for Pradhan Mantri Awas Yojana?

PMAY can be applied to two categories:

  • Under 3 components: The economically weaker sections, which include Low-Income Groups (LIG), Middle-Income Groups (MIG) and EWS, are considered as beneficiaries for the ‘Housing for All Scheme’. EWS have an annual income cap of Rs 3 lakh, LIGs have a cap of Rs 3 to 6 lakh, and MIGs have a cap of Rs 6 to 18 lakh.
  • Slum Dwellers– These include people living in poorly built residences which are unhygienic and have unhealthy drinking water and sanitation facilities.

Steps to log in:

Step 1: Log on to the Pradhan Mantri Awas Yojana official website at  https://pmaymis.gov.in/
Step 2: Under the citizen assessment drop-down, select the benefits under three components as shown below  

PMAY-1-300x144

Step 3: Enter Aadhaar details to proceed (mandatory for enrolling in PMAY)  

Pradhan Mantri Awas Yojana-2-300x144

Step 4: After filling in the Aadhar details, you will be redirected to the application form stage where you will have to fill in the details accurately.

Pradhan Mantri Awas Yojana-3-300x145

Step 5: Once this is done,  click on ‘Save’ and enter the Captcha code.  

Pradhan Mantri Awas Yojana-4-300x121

Step 6: Next, click on  ‘Save’. The application is now complete and a print out can be taken at this stage.

Frequently Asked Questions

Who all can avail the benefits of the PMAY scheme?

Any Indian citizen who belongs to the EWS, LIG, or MIG category can avail the benefits of this scheme. Generate e-way bill on basis of information shared by the suppliers/ consignors regarding the Invoice/challan.

Can a person apply twice?

No, since your account is linked with your Aadhar Card, you would not be able to apply twice.

Is there any registration fee for this scheme?

If you are applying through the online portal, there will be no charges. If you apply offline, you will have to pay a registration fee of Rs. 25 plus GST.

inline CTA
File your returns in just 3 minutes
100% pre-fill. No manual data entry
CONTENTS

Clear offers taxation & financial solutions to individuals, businesses, organizations & chartered accountants in India. Clear serves 1.5+ Million happy customers, 20000+ CAs & tax experts & 10000+ businesses across India.

Efiling Income Tax Returns(ITR) is made easy with Clear platform. Just upload your form 16, claim your deductions and get your acknowledgment number online. You can efile income tax return on your income from salary, house property, capital gains, business & profession and income from other sources. Further you can also file TDS returns, generate Form-16, use our Tax Calculator software, claim HRA, check refund status and generate rent receipts for Income Tax Filing.

CAs, experts and businesses can get GST ready with Clear GST software & certification course. Our GST Software helps CAs, tax experts & business to manage returns & invoices in an easy manner. Our Goods & Services Tax course includes tutorial videos, guides and expert assistance to help you in mastering Goods and Services Tax. Clear can also help you in getting your business registered for Goods & Services Tax Law.

Save taxes with Clear by investing in tax saving mutual funds (ELSS) online. Our experts suggest the best funds and you can get high returns by investing directly or through SIP. Download Black by ClearTax App to file returns from your mobile phone.

Cleartax is a product by Defmacro Software Pvt. Ltd.

Company PolicyTerms of use

ISO

ISO 27001

Data Center

SSL

SSL Certified Site

128-bit encryption