Pradhan Mantri Awas Yojana: Check PMAY in Surat

ByMohit Bansal

On 25 June 2015, our Prime Minister, Mr. Narendra Modi, Pradhan Mantri Awas Yojana (PMAY) launched the Credit-Related Subsidy Scheme (CLSS) which is classified as urban and rural according to the annual wage rate. to provide the sponsor with a reasonable benefit in terms of up-front home financing costs.

According to the Housing for All conspiracy, those who pay no more than GEL 18 per year for each year can apply. For the economically weak (EWS) or low-income groups (LIG), a subsidy for home loan interest is provided to secure and develop houses. For the middle-income group (MIG), the interest rate on home loans for the acquisition or development of housing including repayments is given. Subsidies for interest subsidies are prepaid through principal outstanding.

Under the program, beneficiaries can receive installment loans of £ 6 to £ 12 at rates of 3 to 6.50 percent per annum over a 20 year period.

Pradhan Mantri Awas Yojana Surat

Pradhan Mantri Awas Yojana (PMAY) Surat is a home loan program established by the central government in collaboration with state governments. It was founded to offer affordable housing to weaker economic classes and low and middle-income groups. While the EWS class receives full support under the plan, the MIG and LIG classifications only qualify for the Credit Link Scheme (CLSS) under PMAY.

The people of Gujarat, especially Surat, sincerely welcome Pradhan Mantri Avas Yojana. In fact, the state government is currently building 5,000 new homes, including 8,000 residential units under construction in the city. The City of Sofia in Surat has prepared a report on the tasks of implementing the accommodation plan effectively. As of April 2017, the Surat City Council together with the Surat Development City Council completed more than 2000 DUs.

Features of Pradhan Mantri Awas Yojana (PMAY) in Surat

  • This plan is original in the Indian metropolitan city (city, urban area, metro) for the urban poor with a salary of less than 6.00,000 / year and an age between 21 and 58 years.
  • Women play an important role in this. Family including husband, wife, and unmarried children. Recipients are not permitted to have nursing homes in any part of India on their behalf or due to their family members receiving central support as part of the PMAY meeting income measurement.
  • Credit-related grants are available for home loans preferably for redevelopment and expansion of rooms, kitchens, toilets, etc. For existing homes. The area of the carpet in the house should be expanded or increased according to this plan. It should be up to 30 square meters for the EWS class (the economically weaker section) and up to 60 square meters for the LIG group (low-income groups).
  • In order to qualify as an EWS / LIG beneficiary under the program, the individual loan applicant must present an independent certificate in the certificate/statement as proof of income.

Eligibility Criteria for Applying Pradhan Mantri Awas Yojana in Surat

The following are the eligibility criteria for a PMAY Letter:

The applicant cannot own the Pucca house in his own name or because of another family member in any part of the country.

The applicant should not have received, or should not have received, material assistance from the central government under plans to provide PMAY benefits.

Recipient families may not benefit from PMAY sponsorship from one of the Main Credit Institutions (PLI).

For married couples, either a companion or both co-owners are entitled to a subsidy.

The applicant’s family income must fall into one of the relevant income groups.

  • Economically weaker share (EWS)
  • Low-Income Groups (LIG)
  • Middle-income group I (MIG-I)
  • Group II with middle income (MIG-II)

PMAY grants and benefits can only be won once. If the borrower transfers his loan to another lender, he is not eligible.

Documents Required for Applying PMAY Scheme in Surat

Taking into account that the Pradhan Mantri Awas Yojana is a scheme started by the government of India, implied that you should furnish a lengthy list of documents in order to successfully submit your application. They are:

  • Application form
  • If the income is below the tax limit, at that point a self-attested income certificate is required.
  • Unique Identification numbers like Permanent Account Number (PAN), Aadhaar number, citizen’s ID, driving permit, and so on.
  • Nationality identification proof
  • Copy of address proof
  • Income proof
  • Latest income tax return/Form 16, if applicable
  • Proof of category, if you belong to OBC/SC/ST/Minority
  • Bank statement reflecting the records of last six months
  • Self-drawn and attested financial statement/business license/a short note on the nature of business or job
  • Valuation certificate from a certified valuer
  • An affidavit from the applicant that he/she or any of the family members do not own an all-weather house in any part of the country
  • Affidavit and Undertaking, stating that the construction is in an authorized area and is as per the laws. Additionally, it should also state that the loan is being taken for residential purpose only
  • Architects/Engineers Certificate confirming the following — the cost of construction/repairs and in a case of purchase, it should also state the expected life, future, and fitness of the house/flat.
  • If applicable, receipt of advance payment made to seller/builder
  • No objection certificate from housing society or a competent authority
  • The approved plan of construction
  • Construction agreement with builder or developer
  • Letter of allotment of property/Agreement of sale/Title deeds/Lease Deed