Pradhan Mantri Awas Yojana
Pradhan Mantri Awas Yojana (PMAY) is an initiative by the government of India in which affordable housing will be provided to the urban poor with a target of building 20 million affordable houses by 31 March 2022.
- It has 2 components Pradhan Mantri Awas Yojana (urban) (PMAY – Y) for the urban poor and,
- Pradhan Mantri Awas Yojana Gramin (PMAY – G and also, PMAY – R) for the rural people.
- This scheme is converged with other schemes to ensure houses have a toilet, Saubhagya Yojana electricity connection, Ujjawala Yojana LPG connection, access to drinking water and Jan Dhan Banking facilities, etc
- Total 88 lakhs houses are approved against total demand of 1.12 Cr as of 29 Aug, 2019.
History of the Programme
- Pradhan Mantri Awas Yojana was launched in June 2015 with an aim to provide affordable housing in urban poor.
- Under PMAY, it is proposed to build 2 crore houses for urban poor including Economically weaker sections and low income group in urban areas by year 2022 though it is a financial assistance of Rs. 2 trillion from central government.
- This mission has four components viz., in-situ Slum Redevelopment with private sector participation using land as resource.
- Affordable housing through Credit Linked Subsidy.
- Affordable housing in Partnership with private and public sector and beneficiary led house construction and enhancement.
- Under these components, center assistance will be in the range of Rs. 1 lakh to Rs. 2.30 lakh.
About the Programme
- The features of Pradhan Mantri awas Yojana are that the government will provide an interest subsidy of 6.5% (for EWS and LIG), 4% for MIG-I and 3% for MIG- II on housing loans availed by the beneficiaries for a period of 20 years under credit link subsidy scheme (CLSS) from the start of a loan.
- The houses under Pradhan Mantri Awas Yojana would be constructed through a technology that is eco friendly, while allotting ground floors in any housing scheme under PMAY, preference will be given to differently abled and older persons.
Condition of PMAY:
- Beneficiary max age 70 years.
- EWS (Economic Weaker Section) family income limit is Rs. 3 Lakhs per annum and for LIG (Lower Income Group) family income limit is Rs. 6 Lakhs per annum.
- And middle income group (MIG-I) income between Rs. 6 lakhs to 12 Lakhs per annum. (MIG-II) income between Rs. 12 Lakhs to 18 Lakhs per annum.
- The beneficiary should not have an own dwelling unit on the name of any family member in any part of media.
- The houses under this scheme will be owned by females or jointly with males.
To know more or to apply for pm awas yojana visit pmawasyojana.net.