The central government launched the Pradhan Mantri Awas Yojana to provide affordable housing to rural and urban poor. PMAY typically provides credit-linked subsidy at an affordable interest rate.
It has two segments, namely PMAY Urban and PMAY Gramin. This PMAY subsidy scheme works to achieve-
- Offering credit-linked subsidy to PMAY beneficiaries belonging to the low-income group, economically weaker sections and middle-income group
- To offer slum dwellers with pucca houses
- Providing funding to the beneficiary for private home constructions
- Facilitating affordable housing facilities for the poor sector.
Beneficiaries can avail these benefits under PMAY by registering through online or offline modes. However, the Pradhan Mantri Awas Yojana eligibility needs to be supported by the relevant documents.
Pradhan Mantri Awas Yojana document requirement for salaried applicants
Salaried applicants looking to avail benefits under this scheme need to fulfil PMAY eligibility documentation.
Documents for identification-
- PAN card
- Voter ID,
- Aadhar Card,
- Passport,
- Letter from a recognised public authority or public servant, etc
Document for address authentication-
- A letter from a public authority
- Rent agreement on a stamp paper
- Residence address certificate
- Bank Statements proving the address
- Life Insurance Policy
- Voter card
- Aadhaar card
- Passport
Documents for proof of income under Pradhan Mantri Awas Yojana eligibility:
Applicants need to submit the following documents –
- ITR receipts
- Bank statement
- Last two months salary slips
Proof of property purchase-
- Purchase agreement
- Sales deed
Pradhan Mantri Awas Yojana documents for self-employed applicants
The documentation for self-employed individuals for purchasing a house under PMAY is somewhat different. A self-employed applicant needs to submit the following documents to fulfil Pradhan Mantri Awas Yojana eligibility.
Documents for proof of identity-
- Pan card
- Aadhar card
- Passport
- Voter ID card, etc.
Document for proof of address-
- A copy utility bill showing address like telephone bill, electricity bill, gas bill, etc
- Bank statements of the last three months from a commercial bank
- Credit card statements of the past three months
- Certificate or a letter issued by an employer of the company with the residential address
- A sales deed copy and municipal tax receipt
- Family pension payment orders or general pension issued to a retired employee by public or private departments.
For individuals running a private business or enterprise, the following documents are mandatory-
- Trade license certificate
- SEBI registration certificate
- Registration certificate from SSI
- Sales Tax or VAT certificate
- Partnership deeds and Memorandum of association
- Professional degree certificates
In fact, these documents can fall under the housing loan documentation process based on a lending institution.
However, if a beneficiary fails to fulfil these criteria, they can look for an alternative like a home loan. This credit form offers a substantial fund to purchase a dream residence at an affordable interest rate.
Hence, the PMAY scheme is a lucrative initiative by the central government. This CLSS offers a subsidy to support individual’s belonging to EWS and LIG group in purchasing a residence. However, one must be aware of the updated documentation and the Pradhan Mantri Awas Yojana eligibility list released on the official site.