S.noParameter.Guidelines
1Name of the schemePradhan Mantri Awas Yojana- Affordable Housing in Partnership (PMAY(U)-AHP)
2Objectives of the schemeAffordable homes with water connection, toilet facilities,24 x 7 electricity supply and complete access2 crore houses to be built across the nationTargeting the Economically weaker Section of our Society (EWS), basically, the urban poor by the year 2022
3Target Group & EligibilityPeople who come from low income and economically weaker sections (EWS) and the households having an annual income up to Rs 3,00,000/- onlyThe beneficiary family should not own a pucca house either in his/her name or in the name of any member of his/her familyA beneficiary family to comprise   husband, wife and unmarried children.
4Identification of BeneficiariesThe district selection Committee headed by District collector Minister will select the list of beneficiaries. The committee comprises of District Collector, Ministers of the district, MLAs, Mayors/Chair persons and Commissioners of ULBs in the district as members
5List of sanctioned beneficiariesThe list of selected beneficiaries   approved by the selection Committee   should   be   obtained from the Municipal commissioner of the ULB concerned both in so copy and Xerox of hard copy
6Segregation of wards/areas and allotment of each block to one bank for financingIt is planned to segregate ward wise beneficiaries in an ULB to the block wise housing units to be allotted to an individual bank branch. (A group of 32/48 beneficiaries in a ward be allotted to a block of 32/48 units, to be financed by a bank branch. A meeting may be convened with the Bank Branch Managers to finalize wards and blocks of units for allotment.The RPS of MEPMA shall play a vital role in finking the beneficiaries with the Bank Branches.  However, ULB will take final decision on allotment of houses.
7Confirmation of acceptance off targets by bank branchesA letter of acceptance to be obtained from the bank branches confirming the targets given to their branch by the district collector. (Format enclosed)
8Document to be produced for opening of the account at the bank branchesIf the beneficiary is already having SB Account with the Branch, the same may be linked to housing loan accounts.if new account is to be opened the following documents are requiredfor opening of sb accountsresidential proof1.       Aadhar Card (along with Aadhar card any one of the following is to be submitted)2.       Voter id3.       Ration id4.       Pass port5.       Driving licenseFor the purpose of opening the account for credit facilities (if bank insists upon opening of separate loan accounts) 1.       Aadhar Card2.       Income certificate supported with Ration Card or Self declaration3.        Pan card for those who are in the purview of income Tax. Otherwise, a self-declaration under Form 60 may be submitted to the bank wherever necessary
9Other document to be executed by the beneficiaryAs per the resolution passed and agreed by the controllers of all As per the resolution passed and agreed by the controllers of all the Banks in SLBC, the following additional documents are to be submitted to the bank·         Tripartite agreement between beneficiary, Bank and ULB commissioner·         Sale deed by ulb to beneficiary
10Sale DeedSale deed wlll be executed by the Municipal commissioner as Vendor and beneficiary as Vendee and will be kept under simple mortoaoe  with the Bank till the loan is llouidated.
11Legal OpinionULB officials may obtain a legal opinion of the lay out site from alegal adviser of a leading bank, which will be accepted by all the banks in the ULB
12Cost EstimateLocal AE/DE of APTIDCO at ULB level will give the category wise cost estimate of the flats to the banks
13Sanction letterby the Bank BranchAfter documentation, the bank branch has to issue sanction letter clearly mentioning about loan amount, rate of interest,Moratorlum period, loan repayment period and EM!.After sanction of the  loan,the beneficiary  authorizes the  Bank totransfer the proceeds of the loan sanctioned to him to APTIDCO directlv
14Stamp dutyExemption of stamp duty charges on registration of sale deed, Mortgage deed and other documents may be accorded by the Government. On issue of the GO, the same will be made available in APTIDCO Website for use of the Banks.
15insuranceThe house/flat shall be insured comprehensively for the market value covering fire, floods etc in the joint names of bank and beneficiary. Liability Insurance also may be done by banks. However, it may be explored the possibility of having master policies of insurance for both the above purposes so as to reduce the cost to the beneficlarv.
16Other chargesNo processing and/or Inspection fees are to be levied on the loans under the scheme as the beneficiaries are of EWS cateoorv
17Rate of interestAs per the internal -guidelines of respective bank
18RepaymentMaximum of 240 equated monthly Instalments by the borrower to the Bank. But it varies according to the age and income of the beneficiary.Maximum age to be considered under the scheme is 70 years as approved by SLBC.  However, in such cases, the loan may be considered by Including one of the eligible family members as joint applicant/co -borrower to fix up appropriate EM!isMoratorium period of the loan will be 24 months from the date of allowing first disbursal of loan by the Bank.interest accrued during the Moratorium period shall be capitalized and EM! would be fixed accordingly which shall be paid by the borrower on commencement of repayment period.
19Right of financing BankIf there Is any consecutive default in repayment of the loaninstalment for more than 3 months (NPA), the financing Bank shall have the right to take possession and sell the propertyunder SARFAESI to recover the loan amount. The Bank shall have the First Charge on the asset created so long as the loan is not repaid.The Urban Local Body shall also keep the Bank indemnified at all times against all losses, costs and expenses that Bank may incurin the event of ULB not completing the development and construction of the scheduled property within the time specified or abandoning the project altoaether.
20Update of loan release details in on-lineA service will be provided to the Municipal Commissioner toupdate the data of loans sanctioned (beneficiary wise):
i)date of sanction of loan, ii) loan amount sanctioned) rate of interest, iv) repayment in no of installments) Repayment commencement date and vi) EM! amount.Data of loan installments released/ disbursed:
i)Date of release, ll) No. of instalments and the amount released and iii) the date of transfer of amount to the account of MD, APTIDCO.
21Role of MEPMAThe Resource Persons/field staff of MEPMA shall bring awareness among the beneficiaries about the scheme and help the banks in documentation as well as follow up and recover