The Indian government has developed a scheme for providing affordable housing facilities to the citizens, which are known as Pradhan Mantri Awas Yojana ( PMAY). The responsibility of carrying out the PMAY scheme of these urban housing schemes was entrusted to the Ministry Of Housing and Urban Affairs in the year 2015. The main purpose of the scheme is to provide housing facilities to lower and middle classes of the society, which slum dwellers. The scheme aims to provide better permanent housing to all people in urban areas within 2022. Though the scheme is divided based on location in two parts, like –

  • PMAY Urban ( PMAY-U)
  • PMAY Gramin (PMAY-G)

PMAY Urban

Before understanding the facilities the PMAY-U offers to people in urban areas, you must know more about the scheme. It is a welfare initiative, and its prime aim is to improve the lifestyle of the urban poor. According to the scheme the main plan is to build more than 20 million budget housing facilities within 31st March of 2022. The PMAY-U focused on providing housing facilities to the lower and middle class, which is divided into four categories: Economic Weaker Sections (EWS), Low Income Group (LIG), Middle Income Group (MIG), which includes people living in slum areas.

PMAY-U Scheme is mainly based on a demand approach in which the houses and accommodation allocation is decided based on-demand analysis of the State or Union territory. The stakeholders of the scheme include State Level Nodal Agency, Urban Local Bodies, Central Nodal Agency, Primarily Lending Institutions, etc. These agencies are responsible for the implementation and progress of the schemes.

Prime Features Of PMAY-U

The features involved with the PMAY Urban are –

  • Creating stable living places for slum dwellers through engaging private developer to construct pucca houses
  • Making the housing facilities affordable for lower and weaker society through availing Credit Linked Subsidy Scheme (CLSS)
  • Minimize the difference between existing demand and supply of permanent housing facilities

What Are Options That You Can Derive From Applying For PMAY-U?

ISSR ( In-situ Slum Redevelopment)

Under these schemes, people who live in the slum areas will be provided additional support of ₹1 lakhs. And the land for developing houses will be provided with the private developer for remodeling of slums in various States and Union territory.

CLSS ( Credit Linked Subsidy Schemes)

Through this scheme, you can get a subsidy which can range up to Rs 2.67 lakhs if you belong to Economically Weaker Sections (EWS)or Low Income Group (LIG), but if you are from Middle Income Group-1, then the subsidy can be under ₹6lakhs. Incase MIG-2 gets the subsidy rang between 1-9 lakhs.

  • The interest available for EWS is 6.5%, and the maximum carpet area is 60 sq. meter.
  • The interest Available to MIG1 is 4%, and the maximum carpet area is 120 sq. meter.
  • The interest available to MIG2 is 3%, and the maximum carpet area is 200 sq. meter.

Apart from these, there are few compulsory clauses, including female co-ownership, while applying for these schemes under the EWS category. In this scheme, there are few special facilities that you can only avail of if you are widows, handicapped, transgender, or a senior citizen. Thus you should consider all these features and check your eligibility before applying for these schemes.