Pradhan Mantri Awas Yojana (Housing for all)

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 Pradhan Mantri Awas Yojana
  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
Governments 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.