How is PMAY Useful Even If Your Parents Own the House?
Aug 22, 2017 Real Estate News
The Pradhan Mantri Awas Yojana (PMAY) has been a source of beneficiary from 4026 cities which includes 468 tier I cities across the country.
But one of the main questions everyone is wondering about is whether they can own a house under the scheme if they or their parents already own a house. The answer is both yes and no.
The eligibility criteria state that: “A beneficiary family will comprise husband, wife and unmarried children. The beneficiary family should not own a pucca house (an all-weather dwelling unit) either in his/her name or in the name of any member of his/her family in any part of India.”
As long as the person is unmarried, he or she is not eligible for this scheme if their parents already own a house. However, when you are married, you are treated as a separate family. You are eligible for the scheme but do keep in mind that your spouse should not be the owner of a house already.
How are the officials going to look into the details?
The officials are going to cross check the details using the Adhaar card details of all the family members, especially if the beneficiary is processing the subsidy under PMAY credit linked subsidy scheme (CLSS) for MIG I and MIG II schemes. With the help of this information, the authorities will be able to track down if the members of the same family are applying for the subsidy.
To make this process even more concrete there is a Management Information System (MIS) in place. This will help in tracking down individual beneficiaries within a minute while providing error proof information to the stake holders.
Is the scheme useful if you already own a house?
Yes, it is. According to the circular released by the MHUPA, “It may be noted that through PMAY(U) mission, the Government is not only addressing the issue of the urban houses but also seeks to address the issue of congestion in urban households through the enhancement/incremental housing initiative. This is sought to be achieved through the enhancement of the existing pucca house. Declining to entertain an application for enhancement/incremental housing under the PMAY (U) mission solely on the ground that the individual already has a pucca house is, thus, an incorrect interpretation of the scheme guidelines.”
The new scheme of CLSS for mid income group was launched in Jan 2017 and is valid for one year. While the new CLSS covers people with income of 12 lacs to 18 lacs per year, the CLSS component of PMAY (urban) launched in June 2015 applicable to EWS and LIG covers urban poor with Rs 3 to 6 lacs of income per year.
Achievements notified in April 2017 for the project:
All the states and UTs except Delhi, have signed the memorandum of agreement with the government of India to implement PMAY (U).
Top three states performing in the mission are Tamil Nadu, Madhya Pradesh and Gujarat.
Top five performing states in CLASS are Madhya Pradesh, Maharashtra, Gujarat, and Rajasthan.
But one of the main questions everyone is wondering about is whether they can own a house under the scheme if they or their parents already own a house. The answer is both yes and no.
The eligibility criteria state that: “A beneficiary family will comprise husband, wife and unmarried children. The beneficiary family should not own a pucca house (an all-weather dwelling unit) either in his/her name or in the name of any member of his/her family in any part of India.”
As long as the person is unmarried, he or she is not eligible for this scheme if their parents already own a house. However, when you are married, you are treated as a separate family. You are eligible for the scheme but do keep in mind that your spouse should not be the owner of a house already.
How are the officials going to look into the details?
The officials are going to cross check the details using the Adhaar card details of all the family members, especially if the beneficiary is processing the subsidy under PMAY credit linked subsidy scheme (CLSS) for MIG I and MIG II schemes. With the help of this information, the authorities will be able to track down if the members of the same family are applying for the subsidy.
To make this process even more concrete there is a Management Information System (MIS) in place. This will help in tracking down individual beneficiaries within a minute while providing error proof information to the stake holders.
Is the scheme useful if you already own a house?
Yes, it is. According to the circular released by the MHUPA, “It may be noted that through PMAY(U) mission, the Government is not only addressing the issue of the urban houses but also seeks to address the issue of congestion in urban households through the enhancement/incremental housing initiative. This is sought to be achieved through the enhancement of the existing pucca house. Declining to entertain an application for enhancement/incremental housing under the PMAY (U) mission solely on the ground that the individual already has a pucca house is, thus, an incorrect interpretation of the scheme guidelines.”
The new scheme of CLSS for mid income group was launched in Jan 2017 and is valid for one year. While the new CLSS covers people with income of 12 lacs to 18 lacs per year, the CLSS component of PMAY (urban) launched in June 2015 applicable to EWS and LIG covers urban poor with Rs 3 to 6 lacs of income per year.
Achievements notified in April 2017 for the project:
All the states and UTs except Delhi, have signed the memorandum of agreement with the government of India to implement PMAY (U).
Top three states performing in the mission are Tamil Nadu, Madhya Pradesh and Gujarat.
Top five performing states in CLASS are Madhya Pradesh, Maharashtra, Gujarat, and Rajasthan.
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