Pradhan Mantri Awas Yojana - Urban 2.0 (PMAY-U 2.0)

Pradhan Mantri Awas Yojana - Urban 2.0 (PMAY-U 2.0)

Pradhan Mantri Awas Yojna- Urban (PMAY-U) 2.0 is an Interest Subsidy Scheme (ISS), launched by MoHUA on 01.09.2024 for the families of EWS/LIG/MIG for purchase or construct a house in statutory towns and notified centres. Customers have to apply for the Home Loan under PMAY-Urban 2.0 at the MoHUA prescribed site (https://pmaymis.gov.in) by choosing the “Apply for PMAY-U 2.0”. Under this Scheme, eligible family should not own pucca house anywhere in the country.

  • Low Interest Rates
  • No Processing fee for the Loan amount up to Rs. 8 lacs
  • Interest on daily reducing Balance
  • Maximum Interest Subsidy of Rs. 1.80 lacs
  • Maximum Loan Amount Rs. 25 lacs / Project Cost Rs. 35 lacs
  • Resident Type: Resident Indian
  • Womens must be sole/co-owner in the property.
  • Family having no pucca house anywhere in the country
  • Gross annual household Income up to Rs. 9 lacs
  • Maximum Carpet Area up to 120 Sqm
  • Beneficiary has been not allotted house under any of the housing scheme of Central / State/UT /Local Government in last 20 years
  • Interest Rate: Home Loan interest rate starting at 8.25% onwards.
  • Processing Fee: No processing fees up to Loan amount of Rs. 8 lacs and thereafter as per regular home loan scheme.

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Important Notification

Fees


Post-sanction**

  • Stamp duty payable for Loan agreement.
  • Property insurance premium.
  • CERSAI Registration Fee of Rs 50 + GST up to Rs 5 Lakh limit; and Rs 100 + GST for limits above Rs 5 Lakh.

List of papers/ documents applicable to all applicants:

  • Loan Application: Completed loan application form duly filled in affixed with 3 Passport size photographs along with reference no generated at PMAY-U 2.0 Portal of MoHUA.
  • Proof of Identity: Aadhar Card/Pan Card
  • Proof of Residence/ Address (Anyone): Recent copy of Telephone Bill/ Electricity Bill/Water Bill/ Piped Gas Bill or copy of Passport/ Driving License/ Aadhar Card
  • Employer Identity Card
  • Pradhan Mantri Awas Yojana – Urban 2.0 (PMAY-U 2.0): Self-Undertaking by Beneficiary under ISS

Property Papers:

  • Registered Sale deed/ Stamped Agreement to sale and link documents for tracing of title
  • Occupancy Certificate
  • Share Certificate (only for Maharashtra), Maintenance Bill, Electricity Bill, Property Tax Receipt
  • Approved Plan copy (Xerox Blueprint) and Registered Development Agreement of the builder, Conveyance Deed

Account Statement:

  • Last 6 months Bank Account Statements for all Bank Accounts held by the applicant/s

Income Proof for Salaried Applicant/ Co-applicant/ Guarantor:

  • Salary Slip or Salary Certificate of last 3 months
  • Copy of Form 16 for last 2 years or copy of IT Returns for last 2 financial years, acknowledged by IT Dept.

Income Proof for Non-Salaried Applicant/ Co-applicant/ Guarantor:

  • Business address proof
  • IT returns for last 3 years
  • Balance Sheet and Profit and Loss A/c for last 3 years
  • Business License Details(or equivalent)
  • TDS Certificate (Form 16A, if applicable)

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