Understanding the Benefits and Application of PMAY Initiative


It is important to understand PMAY benefits before going on to its application procedure. Primarily, this scheme offers a subsidy on the interest rate of home loans availed. 



Some of the benefits of PMAY are discussed below –
  • Housing for all: This scheme aims to provide housing to every citizen of India who does not have a concrete roof over his/her head. Consequently, it is also divided into different segments for urban as well as rural areas of India.
  • Subsidy according to income: This initiative takes into account different income groups and grants subsidy to them accordingly. Furthermore, the income of a household is checked, which ensures that the economic condition of a family is taken into consideration.
  • Women and minority benefits: PMAY offers a subsidy to minorities as well as women. In the case of EWS individuals, it is mandatory to have a woman as a joint owner. This ensures that every individual of this socio-economic group has a roof for themselves.
With all these above PMAY benefits, any interested individual should check the following steps to apply for this scheme –
  1. Applicants should visit the official website of PMAY.
  2. After selecting the type of economic background, the applicant must provide their Aadhaar card number. This process completes the registration procedure.
  3. Once on the next page, all necessary details must be filled in and double-checked.
  4. After saving this page and confirming the verification, the application is concluded.
Along with the key benefits of the Pradhan Mantri Awas Yojana and its application procedure, it is also important that eligibility criteria are also checked by the potential beneficiaries.
Must Read:- Eligibility criteria to make the PMAY beneficiary list

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