Pradhan Mantri Awas Yojana (PMAY) is an initiative by the Government of India aiming to provide first-time homeowners subsidy in the purchase of their house. PMAY subsidy is applicable with a limit specified on the family income. This government scheme consists of two components: Pradhan Mantri Awas Yojana (Urban) (PMAY-U) for the urban population and Pradhan Mantri Awaas Yojana (Gramin) (PMAY-G and also PMAY-R) for the rural segment.
As per the government Scheme on the purchase of your first house, you are eligible for a certain percentage of subsidy on your home loan. The criteria applicable and the subsidy provided is specified here:
| Income group | Credit linked Subsidy | Family Income Limit |
|---|---|---|
| EWS | 6.5% | 3 Lakhs p.a. |
| LIG | 6.5% | 6 Lakhs p.a. |
| MIG-I | 4% | 6 – 12 Lakhs p.a. |
| MIG-II | 3% | 12 – 18 Lakhs p.a. |
To enroll for the Pradhan Mantri Awas Yojana you have to provide your Aadhaar Card details, family income details, and other documents as specified by the Government Scheme. Select the bank to avail loan and process for loan approval. Once your PMAY application gets approved the bank receives the subsidy, which in turn will be passed on to you and your EMIs will decrease accordingly.
Avail the subsidy amount up to Rs.2.67 lakh and reap PMAY benefits by booking your flat in the premium gated community situated in the Ideal locality of Guduvanchery, fully equipped with all the finest amenities you desire. Urbanrise Jubilee Residences is located close to a wide array of reputed international schools, colleges, specialised medical centers, and malls/shopping complexes. The community offers carefully planned and artistically designed Studio apartments, 1 BHK, and 2 BHK. Let your first property be a wise investment for your future that is sure to reap you great benefits.
Urbanrise assists you in the process to claim your PMAY subsidy and provides on-time the documents required, such as the Sale Agreement, Allotment letter, Receipt of Payment, etc.
With the PMAY Subsidy become a proud homeowner and select your apartment in the futuristic community which exceeds your expectations.
Our dream of owning a home close to our work place and kids' school has finally come true. We are thrilled that we will now be living in a community and that too in Guduvanchery - the SEZ capital of Chennai . We are now free from paying rent and are proud owners of a new home.
