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Pradhan Mantri Awas Yojana (Housing for all)

Have a Glance at the PPT & get to Know more about Pradhan Mantri Awas Yojana scheme and eligibility criteria<br><br>

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Pradhan Mantri Awas Yojana (Housing for all)

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  1. Pradhan Mantri Awas Yojana (Housing for all) About Pradhan Mantri Awas Yojana (Housing for all) Scheme  PMAY (Pradhan Mantri Awas Yojana) has been implemented by the Prime Minister of India on 1st June, 2015.  It is an initiative taken by the government to provide houses at affordable prices to poor people living in urban areas.  The Credit Linked Policy (CLSS) is being offered under this scheme.  The government aims to provide houses for all by 2022 and eradicate homelessness when India completes 75 years of independence and also mark the birth anniversary year of Mahatma Gandhi.  The scheme also works to rehabilitate slums with land as a resource in association with private organizations

  2. Who all are eligible? Individuals and families who are eligible for this scheme are as follows Economically Poor Section/EWS – Families having an annual income of up to Rs. 3,00,000 lacs. Low Income Group/LIG – Families having an annual income ranging between R. 3,00,000 lacs and Rs. 6,00,000 lacs. Middle Income Group I/MIG I – Families having an annual income within Rs. 6,00,000 lacs to Rs. 12,00,000 lacs. Middle Income Group II/MIC II – Families having an annual income between Rs. 12,00,000 lacs and Rs. 18,00,000 lacs Women – Belonging to EWS and LIG groups Scheduled Caste/SC Scheduled Tribes/ST Other Backward Class/OBC

  3. In addition to the above, the beneficiaries need to fulfill the following two eligibility conditions. To fulfil the PradhanMantriAwasYojana Eligibility, he or she must not own a house. He or she must not avail the benefits of any other housing scheme provided by the Central or the State Government. Under this scheme, the subsidy interest rate that is being provided is 6.50% on home loans for a period of 20 years and the beneficiary family should consist of husband, wife, unmarried daughters and/or unmarried sons.

  4. Government’s Role The government has planned to build affordable houses in selected cities and towns by utilizing eco-friendly construction methods, so that the poor urban people can benefit from this scheme. The key benefit of PMAY scheme is the subsidy offered by the government when purchasing a new house. The government offers a Credit Linked Subsidy scheme wherein the beneficiaries of PMAY scheme have to pay less interest on loan to purchase a house. The government of Maharashtra is playing an important role regarding upcoming projects in Mumbai under the PMAY scheme in both rural and urban areas.

  5. The state government has made some changes in the Public-Private Partnership (PPP) model to expedite construction of upcoming projects in Mumbai under PMAY. • From now onwards Maharashtra Housing and Area Development Authority (MHADA) will allow private landowners in urban areas to develop PMAY projects. • According to this new rule, private owners who possess more than 10 acres of land fulfill the eligibility to join the PMAY scheme. • Out of the total houses constructed, 35% of the units will be handed over to the landowners. The remaining 65% will be given to the authority. • These housing units will be sold through lottery at an affordable price • By 2022, the government of Maharashtra has plans to build about 19.2 lakhs houses under the PMAY housing mission and has included 382 cities.

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