Introduction to PMAY

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Introduction to PMAY
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Introduction

• Keeping in mind the pauperism and homelessness in
  India, the Pradhan Mantri Awas Yojana (PMAY) was
  introduced by Prime Minister, Narendra Modi on 1
  June 2015. The PMAY Scheme is based on the idea
  of providing affordable housing to the urban poor
  section. The aim of this scheme is to provide
  housing for all by the year 2022.

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Objectives of PMAY

• Constructing and enhancing the houses led by the
  receivers
• Providing affordable housing for weaker section
  through Credit Linked Subsidy
• Rehabilitation of the present slum dwellers
• Affordable housing in partner with private
  public sectors

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Features of PMAY

• Subsidy interest rate is provided at 6.5 on
  housing loan under PMAY
• Differently abled and senior citizens will be
  given special preference in allocation of ground
  floors.
• Preference given to the female applicants in the
  family.
• Sustainable and environmental-friendly
  technologies will be used for construction
  purposes.

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Eligibility Criteria

• People belonging to Low-Income Group Families
  (LIG) Middle Income Groups (MIG), and
  Economically Weaker section (EWS) of the society
  are eligible for to apply under the PMAY
  scheme. Also, the person should not own a pucca
  house either in his name or in the name of any
  family member in any part of India to receive
  central assistance under the mission.

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Income Criteria
Only the families fall under the given income
groups are eligible for interest subsidy on
housing loans under the Credit Linked Subsidy
Scheme (CLSS).

• Economically Weaker Section (EWS) The households
  with an annual income up to Rs. 3 Lakh
• Lower Income Group (LIG) The households with an
  annual income between Rs. 3 Lakh to Rs. 6 Lakh
• Middle-Income Groups (MIG) Whereas the families
  annual incomes of above Rs 6 lakh to Rs 18 lakh

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Conclusion

• If you are looking for affordable housing and
  fill in on all the above-mentioned criteria,
  Pradhan Mantri Awas Yojna is surely an option to
  consider.

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Contact Us

• Address Sardar Kulwant Singh Chadha Marg, NH 24
• Ghaziabad , Uttar Pradesh 201015
• Source http//www.wavecity.in/about-wave-city/pra
  dhan-mantri-awas-yojana-en/

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