PM Awas Yojana Documents: What You Should Know

Owning a home is a cherished dream for many, especially in India’s smaller cities and towns. The Pradhan Mantri Awas Yojana (PMAY) is turning that dream into reality by making affordable housing accessible to all. If you're considering applying for a home loan under the PM Awas Yojana in 2024, it’s important to have the right documents in place to make the process hassle-free. Here’s everything you need to know about the PM Awas Yojana documents.

What is the Pradhan Mantri Awas Yojana?

The Pradhan Mantri Awas Yojana makes affordable housing a reality.

Launched in 2015, the PMAY is a government scheme to provide affordable housing to economically weaker sections (EWS), low-income groups, and middle-income groups in urban and rural areas. To make housing affordable, the scheme offers subsidies on home loan interest rates through the Credit Linked Subsidy Scheme (CLSS). However, to avail of these benefits, having the correct documents is necessary.

As of 2024, 118.64 lakh houses have been sanctioned, 115.14 lakh houses have been grounded, and 87.25 lakh houses have been completed under the scheme. Also, the central assistance committed is ₹2 lakh crore, with ₹1.65 lakh crore already released. The total investment for the project has reached an impressive ₹8.07 lakh crore.

Documents required for Pradhan Mantri Awas Yojana

Some crucial documents are required to apply for Pradhan Mantri Awas Yojana.

When applying for PM Awas Yojana in 2024, some essential documents are required for salaried employees and self-employed individuals. These documents are mandatory for ensuring that your application is complete and processed smoothly under the latest 2024 guidelines. The PM Awas Yojana documents list consists of the following:

For Salaried Employees:

1. Proof of Identity: Aadhaar Card, PAN Card, Voter ID, Driving Licence, Passport.
2. Proof of Address: Utility Bills (Electricity/Water), Rental Agreement, Passport.
3. Income Proof: Salary slips, Income Certificate (for EWS/LIG), latest Income Tax Return (ITR) or Form 16.
4. Bank Statements: Last six months.
5. Property Documents: Agreement to Sale, Title Deed, NOC (no objection certificate) from society/builder, approved construction plan, valuation certificate.
6. Affidavit: Declaration of not owning a pucca house anywhere in India.
7. Additional: Proof of category (SC/ST/OBC/Minority), architects' certificates for construction costs, and NOC from the housing society.

For Self-Employed Individuals:

1. Proof of Identity & Address: Similar to salaried individuals.
2. Income Proof: ITRs, bank statements, a brief note on the nature of the business, self-attested financial statement, and business license.
3. Property & Construction Documents: Agreement to Sale, Title Deed, Valuation Certificate, Architects’ Certificates, and NOC.
4. Affidavit: Similar to salaried individuals, confirming no ownership of a pucca house.

Having all the necessary documents ensures a smooth application process and eligibility for the interest rate subsidy under PMAY. To make the process easier, make sure you fulfil the Pradhan Mantri Awas Yojana checklist of all the PM Awas Yojana documents required.

Types of Documents Required in Urban and Rural

Some crucial documents required for PMAY in Urban and Rural areas are:

• Aadhaar Card or Voter ID (proof of identity)
• Bank Account Details
• Swachh Bharat Mission Registration Number
• MGNREGA Job Card Number
• Consent to use Aadhaar data
• Affidavit stating no ownership of a pucca house

Documents Required for PMAY Rural in 2024:

• Aadhaar Card or Voter ID (proof of identity)
• Bank Account Details
• Swachh Bharat Mission Registration Number
• MGNREGA Job Card Number
• Consent to use Aadhaar data
• Affidavit confirming no ownership of a pucca house

These documents are essential for both urban and rural applicants to verify their eligibility for the PM Awas Yojana scheme in 2024. By ensuring you provide all the documents, you improve your chances of availing the advantages of the home loan interest rate subsidies.

Applying for a Home Loan under PMAY

A hassle-free journey to homeownership with a home loan under the PM Awas Yojana.

Applying for a home loan under PM Awas Yojana in 2024 is a straightforward process as long as your documents are in order. You can apply through non-banking financial companies (NBFCs) like IIFL Home Loans, which offer home loans with an easy documentation process along with complete guidance on PMAY eligibility. Before applying for a home loan, it's essential to know your EMI (equated monthly installments) as well. Use the Home Loan EMI Calculator to calculate your monthly payments based on the loan amount, tenure, and interest rates. With the help of this calculator, you can plan your finances efficiently.

Final Thoughts

Securing a home loan under the PM Awas Yojana is a major step toward making your dream home a reality. Having the right documents in order is crucial to ensure a seamless and hassle-free application process. By gathering all the required documents and checking your eligibility in advance, you can significantly improve your chances of approval. For expert guidance and easy access to home loans, visit IIFL Home Loans. Understand the documentation requirements, and start your journey toward successful homeownership today.