PMAY Scheme

What is Pradhan Mantri Awas Yojana?
Pradhan Mantri Awas Yojana premiered with the aim to present housing at a reasonable cost towards weaker sections of the society, low income group people, metropolitan poor, and countryside poor. The Scheme involves a construction of approximately 2 Crore houses at an affordable price by 31st March 2022. The Yojana has gained financial help of USD 31 billion from Central Authority.
This Housing Scheme offers 2 aspects:
Pradhan Mantri Awas Yojana Urban (PMAY-U)
Pradhan Mantri Awas Yojana Gramin (PMAY-G)
Primary elements of Pradhan Mantri Awas Yojana
In-Situ Redevelopment of slums using land for a resource, with all the participation within the private sector. This Program targets leveraging the potential 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 Fifteen years from the start of the loan, which will make housing affordable. The Net Present Value (NPV) of the interest subsidy is going to be calculated at a discount 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 resulting in reduced Equated Monthly Installment (EMI) and reduced housing amount borrowed.



Affordable Housing in Partnership (AHP) - In partnership with the Private and public sector, affordable housing might be presented to the EWS Families. 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 - Within this component, the beneficiaries who are not able to avail the many benefits of the above three components will be benefited. This mission provides help to families of EWS category to make new houses or enhance the existing houses on their own to cover the beneficiaries. Under this mission, families will receive 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 developed with eco-friendly technology and preference will be provided with to old and disabled while allotting ground floors.Excellent news for Beneficiaries : Now, the Government is Providing the Facility to Check Name in Pradhan Mantri Awas Yojana List