Pmay Scheme -know About The Beneficiaries, Eligibility And Exclusions

By Author: Anil Sukhchandani
Total Articles: 9
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In 2015, India's Government introduced the Pradhan Mantri Awas Yojana housing for all scheme to provide affordable housing to Indian citizens. Under this scheme, the Government intends to construct concrete houses for people residing in India's urban and rural areas. After completing construction in India's urban areas, the Government has now shifted its focus and structure for affordable homes in rural areas is currently underway. Here's all you need to know about beneficiaries, eligibility and exclusions under this scheme.

The process of selecting beneficiaries under PMAY

The beneficiaries under the PMAY scheme for rural dwellers are selected via a process that uses the data collated in the Socio-Economic Caste Census, 2011. Beneficiaries are chosen as mentioned:
1. The Socio-Economic Caste Census (SECC) of 2011 will help create a list of beneficiaries who can benefit from this scheme.
2. The beneficiaries who are found eligible for this scheme will be prioritised based on their annual household incomes.
3. The Gram ...
... Sabhas or panchayats of all villages will then verify the list.
4. Once the heads of the Sabhas verify the list, a final list will be generated and published.
5. An annual list will finally be created.

Mandatory factors to become eligible for PMAY scheme

To be eligible for the PMAY, you need to fall under the below-mentioned eligibility criteria:

• You should be a member of a nuclear family consisting only of your spouse and your unmarried children
• You should not own a pucca or concrete house to be eligible for this scheme
• You should be a resident of a particular state for a specific, fixed period and your eligibility will depend on the state you are residing in
• You and your family should fulfil the required income criteria mandated by the scheme. You need to belong to the income categories listed as Economically Weaker Sections of EWS, Lower Income Group, LIG, and Below Poverty Line or BPL group.
• Your family's annual household income should be over INR 300,000, but it should not exceed INR 600,000 per annum.

Beneficiaries can avail home loans to purchase a house under the Pradhan Mantri Awas Yojana online. They can also get subsidised interest rates on these loans as this scheme. However, if you need a loan for an amount exceeding INR 600,000, you must pay interest rates in accordance with the market rate, on the additional loan amount.