By 
Pradhan Mantri Awas Yojana is a housing scheme that focuses on the inclusive development of society. It aims to help people from economically weaker sections own a house while empowering women to participate in the financial decisions of the family. To avail the benefits of the scheme, at least one of the co-owners of the house needs to be a woman from the family.
Here are some more details that you may need to know.
What is PMAY?
Pradhan Mantri Awas Yojana (Urban) was launched by Prime Minister Narendra Modi under the Ministry of Housing and Urban Poverty Alleviation (MoHUPA) in June 2015. It aims at providing housing for all by 2022. The scheme was launched to provide affordable ‘pucca’ houses for the urban poor. The urban poor under this scheme includes slum dwellers, Lower Income Group (LIG), Middle Income Group (MIG) and Economically Weaker Sections (EWS) of the society. Under the PMAY scheme, the applicants are provided with credit-linked subsidies to purchase a house.
Who can be the beneficiary?
- A beneficiary would include husband, wife and unmarried sons and/or daughters.
- To receive the assistance under this housing loan scheme, no member of the beneficiary family should own any ‘pucca’ house in their name at the time of applying for the scheme.
- People who have a small house that is less than 21 square metre can also avail this scheme for enhancement of their existing house.
Features of the Scheme
- All 4,041 statutory towns of the country have been included in the scheme.
- The mission mandates the house to be constructed in the name of the female member of the family.
- If not, the female member should at least be a co-owner of the house constructed or acquired.
- There are four verticals through which this scheme has been implemented:
“In situ” slum redevelopment
Affordable housing through credit linked subsidy
Affordable housing in partnership
Subsidy for beneficiary led individual house construction.
Construction of the House
- The mission supports the construction of houses up to 30 square meters of carpet area equipped with basic infrastructure.
- All the houses constructed under this scheme should have a toilet facility.
- The minimum size of the house under this scheme should be in accordance with the National Building Code (NBC).
- All the houses constructed under the PMAY scheme should be able to withstand disasters. The design of the house should secure the property against earthquakes, floods, cyclones, landslides, and other natural calamities.
In a Nutshell
According to a statement given by The Union Housing and Urban Affairs ministry, around 41 lakh houses have been constructed under the PMAY-U scheme until recently. Also, the construction of another 1.68 lakh houses has been approved.
Probably, it won’t be long enough when all the slums would be replaced by ‘pucca’ houses. While this scheme could help lakhs of people get a concrete house of their own, it could also help eliminate slums from the urban areas to improve the living conditions of lakhs of people. If you fulfill the eligibility requirements under this scheme to get a credit-linked subsidy, apply for a home loan under PMAY today.
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