Pradhan Mantri Awas Yojana
Pradhanmantri Awas Yojana Could Help You Buy Your Own Dream HomeThe Mission of Pradhan Mantri Awas Yojana – housing for all will be implemented during 2015-2022 and will provide central assistance to Urban Local Bodies (ULBs) and other implementing agencies through States/UTs for:
1. In-situ Rehabilitation of existing slum dwellers using land as a resource through private participation
2. Credit Linked Subsidy
3. Affordable Housing in Partnership
4. Subsidy for Beneficiary-led individual house construction/enhancement.
Credit-linked subsidy component will be implemented as a Central Sector Scheme while other three components will be implemented as Centrally Sponsored Scheme (CSS).The scheme will cover
Eligible for Subsidy:You' ll get the subsidy if you are buying your first house and it’s under new construction. The combined household income of husband and wife should not more than 18 lakh.
How to Get Pradhan Mantri Awas Yojana subsidy?1. Apply for home-loan from the primary-lending-institution seeking subsidy.
2. If eligible for the subsidy, your application will be forwarded to the Central-Nodal-Agency (CNA).
3. If it's approved, the Central Nodal Agency will disburse the subsidy amount to the lender.
4. This will be deposit to your account, thus reducing the total loan amount.