Pune: As part of its housing initiative under the Pradhan Mantri Awas Yojana (PMAY), the Pune Metropolitan Region Development Authority (PMRDA) had invited beneficiaries to confirm their intent to purchase flats by February 26.
In response, 294 applicants have formally declined the offer, primarily due to duplicate applications within families or simultaneous applications under the MHADA scheme. To ensure a smooth transition for the remaining beneficiaries, PMRDA has set a 45-day deadline for payment completion.
Lottery-Based Allocation and Eligibility Criteria
PMRDA conducted a housing lottery for 1,337 unsold flats in Peth No. 12 under the PMAY scheme. By December 15, 2024, the project had received 3,271 applications, out of which 3,256 were deemed eligible. The final selection was carried out through an online lottery event presided over by the Chief Minister.
Simplified Loan Processing with 10% Advance Payment
To facilitate home loan approvals, PMRDA has announced that applicants who pay at least 10% of the total cost will receive a No Objection Certificate (NOC). This certificate will enable them to expedite loan applications with banks and ease their financial planning.
With housing demand on the rise, PMRDA's scheme continues to attract attention, but challenges like overlapping applications and financing constraints have led to a segment of applicants opting out. The remaining beneficiaries now have an opportunity to secure their homes by completing the required payments within the given timeframe.