Pradhan Mantri Awas Yojana

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.

Eligibility Criteria

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.

 

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