Government Housing Schemes

With the increase in the price of properties in the capital city, Pradhan Mantri Awas Yojana Delhi has already started 15 housing projects which comprise of essential facilities like water supply, security, electricity and recreation grounds. The price of these apartments begins from Rs.12.80 lakh. Registration process PMAYG registration can be done both online and offline. To apply online, one needs to visit the official PMAYG  website and fill up the necessary details. On entering the Aadhaar card number, an application form with personal information needs to be filled. Finally, an application number is provided to the applicant. For offline registration, one can visit any PMAY listed financial institution; he/she should carry their source of income proof. As soon as the approval is received, one can start to choose a property and finalise the deal. PMAY benefits Senior citizens and specially-abled people can access the ground floor flats. The houses are buil...

The Pradhan Mantri Awas Yojana (PMAY) policy promotes the idea of ‘housing for all,’ aiming to provide affordable housing solutions in the form of subsidies on home loan interests for Indian citizens. Here is a brief overview of the PM Awas Yojana discussing some critical elements of the policy. Sections of PMAY The PMAY scheme was initially introduced to support the Economically Backward Section (EWS) and Lower Income Group (LIG) of the society. However, in 2017, the policy was extended to the Middle Income Group (MIG I & II), under the Credit-Linked Subsidy Scheme (CLSS.) This introduced two new subsidies on home loans that can be availed by individuals with a higher annual income. As a result, PMAY was divided into two sections – PMAY Gramin. PMAY Urban.  Benefits PMAY benefits are determined on the annual income of individuals applying for the loan. Such categories include – EWS & LIG  Income between Rs.3 lakh to Rs.6 lakh p.a. Loan amou...