Pradhan Mantri Awas Yojana, PMAY for short, was introduced with the ambition of ensuring ‘housing for all’. With a focus on urban and semi-urban areas, the relevant scheme is termed PMAY-U (urban). The eligible target audience for PMAY-U is first time home buyers from the Economically Weaker Sections (EWS) or Lower / Middle Income Groups (LIG and MIG). With a similar concept and vision, PMAY-G (grameen) was introduced in rural areas. The main difference is that the eligible beneficiaries are to be chosen by local governing bodies based on predetermined criteria. The rules are stringent, and their enforcement strict to avoid any misuse or misappropriation of this scheme. Aadhar card entries are maintained in records for tracking purposes. However, even after feeling they are eligible, several people have reported getting their allotment applications rejected. Let us examine some of the most common reasons why this can happen.
As mentioned earlier, the concept of PMAY’s ‘housing for all’ vision is focused towards people with lesser financial resources available to them and ensuring their standard of living is improved. For this purpose, certain categories have been defined, and people need to choose the right one depending on which category they fall under. Proofs are to be proffered for the purpose of verification of annual household income. If the wrong category is chosen, then the chances are high that your application will be rejected.
Another important condition, for availing the benefits of Pradhan Mantri Awas Yojana, as mentioned in the introduction section is the fact that PMAY is targeted towards first time home buyers. Hence, their motto - housing for all. If you are already a homeowner or have a home registered under your name or the name of your immediate family member, you will not be eligible to claim the benefits offered by the PMAY scheme. Providing false or incorrect information in this context is sure to get your application rejected.
Do note that this condition also extends in the case of spousal eligibility. There is only a single subsidy benefit that can be availed for a married couple under PMAY. In other words, it means that if either you or your spouse has already availed this benefit, then you are no longer eligible to claim it again. If you do try, whether as an individual or as joint applicants, it is bound to get rejected.
Pradhan Mantri Awas Yojana is not the only subsidy based housing scheme offered by the Honorable Government of India. There are other central and state level based schemes that share a similar mission and vision. In case you or your immediate family members have applied for or already availed support from any such scheme, your eligibility for PMAY shall get nullified, and you will no longer be eligible for the PMAYU or PMAYG benefits, as might be the case.
It is worth noting that the PMAY scheme is applicable for the purchase/construction of new homes or (if applicable) to the expansion of an existing eligible property. If you are applying for properties that may be of other nature, like resale or distress sale, then the application may be denied by the lending institution. There is a certain amount of discretion involved here and will need to be thoroughly checked by your chosen lender.
As you must have noticed, PMAY is a very beneficial provision to enable and encourage first time home buyers. Due to low interest rates and credit-linked subsidy, you can own your home in an instant. However, you need to be careful and transparent in the information to be provided as part of your application. Consult trustworthy financial institutions to ensure you can avail the benefits of this advantageous scheme.