Pradhan Mantri Awas Yojana (PMAY) is an initiative by Government of India in which affordable housing will be provided to the urban poor with a target of building 20 million affordable houses by 31 March 2022. It has two components: Pradhan Mantri Awas Yojana (Urban) (PMAY-U) for the urban poor and Pradhan Mantri Awaas Yojana (Gramin)(PMAY-G and also PMAY-R) for the rural poor.[ This scheme is converged with other schemes to ensure houses have a toilet, Saubhagya Yojana electricity connection, Ujjwala Yojana LPG gas connection, access to drinking water and Jan Dhan banking facilities, etc.Total 1 cr homes are approved against total demand of 1.12Cr as of 28 December 2019.

The scheme

The features of Pradhan Mantri Awas Yojana are that the government will provide an interest subsidy of 6.5% (for EWS and LIG), 4% for MIG-I and 3% for MIG-II on housing loans availed by the beneficiaries for a period of 20 years under credit link subsidy scheme (CLSS) from the start of a loan. The houses under Pradhan Mantri Awas Yojana would be constructed through a technology that is eco-friendly, while allotting ground floors in any housing scheme under PMAY, preference will be given to differently abled and older persons.

Finance

The government has approved an investment of ₹439.22 billion (US$6.2 billion) for construction of 6,83,724 houses for urban poor including central assistance commitment of ₹100.50 billion (US$1.4 billion) by April 2016.

Eligibility criteria

Condition for PMAY: (a) Beneficiary max age 70 years, (b) EWS (Economic Weaker Section) family income limit is ₹3 Lakhs per annum and for LIG (Lower Income Group) Family Income limit is ₹ 6 Lakhs per annum,and Middle Income Group -(MIG-I) income between ₹ 6 lakhs to ₹12 lakhs per annum, (MIG-II) income between ₹ 12 lakhs to ₹ 18 lakhs per annum c) The beneficiary should not have an own dwelling unit on the name of any family member in any part of India.[5] d)The loan applicant should not have availed any central/state government subsidy or benefit for buying a home under the PMAY scheme. e)Currently, the loan applicant should not own any property under their name and along with any of the family members (including the dependents). f)The home renovation or improvement loans, self-construction loans will be allocated only for EWS and LIG categories.

The houses given under this scheme will be owned by females or jointly with males.

Phases

3 Phases of PMAY envisage starting and completing the house construction work as follows:

  • PMAY Phase-1 from April 2015 to March 2017 to cover 100 cities.
  • PMAY Phase-2 from April 2017 to March 2019 to cover additional 200 cities.
  • PMAY Phase-3 from April 2019 to March 2022 to cover the remaining cities.

States and cities covered

As of 25 April 2016, the government has identified 2,508 cities and towns in 26 states for beginning construction of houses for urban poor.Construction of 1,86,777 additional houses for the benefit of urban poor with an investment of ₹11,169 cr with central assistance of ₹ 2,797 cr was approved in February 2018, taking the cumulative total houses approved to 39,25,240 houses including subsumed RAY scheme, of the targeted 10 million houses by March 2022.

DPR Wise Physical & Financial Status Of PMAY(U) Houses as 05-02-2022 (FY 2017-20) Under PMAY(U)-Digboi MB

DPRBeneficiariesCurtailmentActual Beneficiary1st Installment Received2nd Installment Received3rd Installment Received
1ST44575370356248100
DPRBeneficiariesCompleteLintelFoundationUnder construction
1ST370178684884