PMAY NOTIFICATION ISSUED: TWO MORE CATEGORIES OF MIG-1 & MIG-2 ADDED IN ADDITION TO MODIFICATION OF SUBSIDY TENURE TO 20 YEARS (FROM 15 YEARS) IN EXISTING PMAY- EWS SCHEME:
Three Categories in PRIME MINISTER AWAS YOJNA:
1. EWS: Income :upto ₹6 Lac : Subsidy @ 6.5℅ on first 6 lacs loan for first 15 years.
2. MIG-1 : Income upto ₹12 lacs : Subsidy @4℅ for first 9 lacs loan for first 20 years.
3. MIG-2 : Income upto ₹ 18 lacs : Subsidy @ 3℅ for first 12 lacs loan for 20 years.
a) Income is Annual House hold income, comprising of Husband, wife, & unmarried dependent children. If son/ daughter are employed/having independent self income, can be treated as separate household (family).
b) Household should not have any Pucca House. Means first time home buyers are eligible.
c) Area limit :
* EWS : NO Limit
* MIG-1 : 90 Sq MTR
* MIG-2 : 110 Sq MTR
d) MIG-1 & MIG-2 Categories are effective from 01.01.2017.
e) Applicant (s) should be resident of & purchasing House/ flat in any one of 4041 URBAN TOWNs (notified)/ Cities in the country.
f) loan can be for purchase of house/ flat or for Construction on already owned plot.
g) Only new loan & no Bank Transfer (BT) / Takeover from one bank to other are eligible.
h) Only Term Loan eligible & no Overdraft loan eligible.
i) Subsidy is claimed by loanee Bank / Housing Finance Co from National Housing Bank (NHB), provided customer submit affidavit / declaration to Bank that :
* The Applicant does not own any Pucca House in the country.
* Applicant (s) household annual income is less than ₹6 lacs/ 12 lacs/ 18 lacs
* Fulfilled KYC of Applicant (s) with Aadhar for each member in the household family.
* Female in the household must be applicant/ co-applicant & must have name in property. Unmarried man with no spouse/ female in household are also eligible subject to declaration that there is no adult female in the household.