PM Housing Scheme

What exactly is Pradhan Mantri Awas Yojana?
Pradhan Mantri Awas Yojana was introduced with the aim to make housing at a reasonable cost towards weaker elements of the society, less earning group people, suburban poor, and non-urban poor. The Yojana involves building of about 2 Crore houses at reasonable prices by 31st March 2022. The Yojana has gained financial help of USD 31 billion from the Central Authority.
Housing for All Scheme contains two factors:
Pradhan Mantri Awas Yojana Urban (PMAY-U)
Pradhan Mantri Awas Yojana Gramin (PMAY-G)

Main Components of Pradhan Mantri Awas Yojana


In-Situ Redevelopment of slums using land like a resource, with all the participation in the non-public sector. This mission is aimed at leveraging the chance of land under slum areas and providing formal urban establishments to slum dwellers.
Credit Linked Subsidy - Under this scheme, the government will provide you with an interest subsidy of 6.5% on housing loans for 15 years from the start of the loan, which will make housing affordable. The Net Present Value (NPV) of the interest subsidy shall be calculated inexpensively rate of 9%. The loan amount of Rs 6 lakhs is only applicable for the credit-linked subsidy scheme and any amount beyond Rs 6 lakh does not attract any subsidy. The lending institutions will directly credit the interest subsidy to the beneficiaries’ accounts which will result in reduced Equated Monthly Installment (EMI) and reduced housing amount borrowed.

Affordable Housing in Partnership (AHP) - In partnership with the Public and Private sector, affordable housing will likely be provided for the economically weaker sections. The States or Union Territories, either with diverse agencies or in partnership with different industries can plan affordable housing projects.

Enhancement and construction of beneficiary led house - Under this part, the beneficiaries who are not able to avail the key benefits of the above three components will be benefited. This mission provides assistance to families of EWS category to develop new houses or enhance the existing houses on their own to cover the beneficiaries. Under this mission, families will have a central assistance of Rs 1.50 lakh to enhance their existing houses or construct new houses. Under the Pradhan Mantri Awas Yojana, the houses will be made with eco-friendly technology and preference will be provided to old and disabled while allotting ground floors.Excellent news for Beneficiaries : Now, the Government is Providing the Facility to Find Name in Pradhan Mantri Awas Yojana List