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. Cumulative total number of funded houses approved thus far is 39,25,240 in urban area including the subsumed RAY scheme and completion of construction of 5 million rural houses by March 2018 and 10 million rural houses by March 2019.
The features of Pradhan Mantri Awas Yojana are that the government will provide an interest subsidy of 6.5% 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.
The government has approved an investment of ₹439.22 billion (US$6.4 billion) for construction of 6,83,724 houses for urban poor including central assistance commitment of ₹100.50 billion(US$1.5 billion) by April 2016.
Condition for PMAY: (a) Beneficiary max age 70 years, (b) EWS (Economic Weaker Section) annual income Less than Rupees 3 Lac and LIG (Lower Income Group) Annual Income 4,00,000 to 6,00,000 Lac INR as well as Mid Income group since Feb 2017, and (c) The beneficiary should not have an own dwelling unit on the name of any family member in any part of India.
The houses given under this scheme will be owned by females or jointly with males.
For the construction of housing under Mahatma Gandhi NREGA scheme, 90 days of laborers will be given Rs. 7280 / -.Total Assistance to the beneficiary Rs. 149280 / -Financial allocationAccording to the 60:40 ratio between the fund allocation center and the state governmentAllocation of 4% administrative expenditure against the allocated funds to districts (3.5% for district and 0.5% for the state)
Features of the schemeAccommodation size – 25 sq.mHousing assistance amount 120000 / -Use of SECC-2011 data for beneficiary selectionConverse:
Clean India Mission (Rural)Mahatma Gandhi NREGA (for labor)Other plans (Rajiv Gandhi Vidyutankaran Yojana, Aadmi Bima Yojana, National Health Insurance Scheme)District Material Bank and Facilitation CenterDBT – PFMS and Support LinkingMonitoringMobile appAccommodation Soft