- Undertaking from the buyer in the given format
- Aadhar card and PAN card
- Any other documents as required by the Bank/Financial Institution
- Income Proof for eligibility of loan
- Identity Proof
- Address Proof
- A Bank statement of the Last 6 months
- Any other documents as required by the Bank/Financial Institution
Yes, you may apply for the PMAY subsidy if you are single, however, there are different criteria. Unmarried men can make use of the PMAY subsidy if their mother is the co-applicant. In case, there is no surviving adult woman in the family, they may still apply. Unmarried women are also eligible to apply if they are an independent earning member of the family
In order to get PMAY subsidy you must successfully qualify for a home loan.
The entire subsidy will be given upfront to the housing finance company/Bank by the Government Agency. Thereafter the Bank/HFC will credit the same in borrower’s account. This will result in a reduction in the housing loan amount and consequently, the EMI will also reduce.
If the roof of your village house is not made of concrete, it is not considered a ‘pucca’ house, thereby qualifying you for the housing subsidy.
STEP 1: First you book a flat and apply for a housing loan
STEP 2: Bank sanctions your loan
STEP 3: Registration of the agreement
STEP 4: Your housing finance company/bank submits the claim of the subsidy to National Housing Bank/HUDCO
STEP 5: National Housing Bank transfers the amount to your bank
STEP 6: Bank deposits the subsidy to your loan account
STEP 7: Loan reduces to the extent of the subsidy received and the reduced EMI is set
If you do not qualify for PMAY, you may still qualify for a housing loan.