It definitely won’t be wrong to consider the PMAY as the easiest and most convenient option to procure affordable homes in the country. While the Pradhan Mantri Awas Yojna is more of a flagship plan to provide cost-effective lodging options for every individual, the existing pradhan mantri awas yojana list makes sure that the by 2022, almost 22 million households catering to the weaker sections and low-income sections of society will be provided.

Sections Covered Under the Pradhan Mantri Awas Yojna

Firstly, it is important to understand that currently, the government has identified a 34 percent growth in decadal slum proliferation which makes it even more important to implement the concerned strategy. According to the authorities behind the inception of PMAY, we might just see the scheme cover more than 2 million non-slum and urban households that are economically weaker, soon.

At present though, this scheme covers the economically weaker sections, Low-income groups, and MIG I and MIG II, falling under the PMAY CLSS.

Impacts

The PMAY awas list would also help individuals avail substantial loans when it comes to purchasing affordable houses. This means that it becomes easier to repay the same in the form of cost-effective EMIs. Last but not least, even the interest rates are subsidized in the case for individuals falling under this list.

Some of the other existing benefits of the same include the availability of top-up loans, zero foreclosure charges, easy transfer facility, flexible loan repayment tenor, and easy management via a dedicated customer portal.

Summary

Therefore, if you fall under any one of the mentioned categories, it would be advisable to visit the nearest Bajaj Finserv facility and get eligibility checked for the housing loan.

Additional read: Is PMAY Helping To Get Affordable Home Loans In India?

Other related post: All The Major Key Features and Benefits of PMAY Subsidy Scheme