What is PMAY (Pradhan MantriAwasYojana) | Types of PMAY Scheme | Phases of PMAYU and more at pmaymis.gov.in
PMAY (Pradhan MantriAwasYojana)
Have you heard of the PMAY? Pradhan Mantri Awas Yojana is a government-backed scheme. It provides support to the urban poor people for their housing needs. The launch date of the scheme is 1 June 2015. This scheme aims to provide affordable housing to identify and registered urban poor by the year 2022.
For more details visit and check : pmaymis.gov.in
FEATURES OF PMAY: -
First of all, let us discuss the major features of this scheme: -
1. First, be precise and clear, the houses provided under this scheme are not free of cost. People are provided with loan facilities. The interest rate is lower than the market rate. The interest subsidy ranges from 3 to6.50 %.
2. Central assistance of Rs. 1.5 lakh per house would be given under this scheme.
3. The term of the loan would be 20 Years.
4. Preference for allocation of houses would be given to senior citizens and differently abled.
5. For the construction of flats under this scheme technologies that are used are eco-friendly and sustainable.
6. Credit-linked subsidy policy has been implemented from the initial stages itself.
7. All the Urban areas of the country are covered under this scheme. About 4041 statutory towns are covered under this scheme.
How are beneficiaries identified under this scheme?
There
are many beneficiaries of this scheme. For ease of identification, the
beneficiaries are divided into three groups: -
1. Low-Income
Groups (LIGs) – Those who have salaries between Rs. 3 lakh to Rs. 6
lakh. LIGs get Credit Linked interestSubsidies at about 6.5% for maximum
maximums. Of 6 lakh.
2. Middle
Income Groups (MIGs) – There are two groups in this
category.
MIG
I - Those who have salaries between Rs. 6 lakh to Rs. 12 lakh. MIG I get Credit
Lia naked Interest Subsidy of 4.00% p.a. for a maximum loan of Rs. 9 lakh.
MIG
II - Those who have salaries between Rs. 12 lakh to Rs. 18 lakh. MIG II gets a
Credit Linked Interest Subsidy of 3.00% p.a. for a maximum loan of Rs. 12 lakh.
3. EWS (Economically Weaker Section) - In the Economically weaker section g, roups slum dwellers, etc. are included. Those people are also included who do not have access to drinking facilities, have poor sanitation conditions around them, and do not have adequate infrastructure for living. EWS gets full assistance under this scheme.LIGs get Credit Linked interestSubsidies at about 6.5% for a maximum loan of Rs. 6 lakh.
Note: - Apart from these categories, people of SC, OBC, and ST are also eligible to get benefits under this scheme. Women belonging to EWS and LIG income groups are also eligible.
Types of PMAY Scheme: -
PMAY
Scheme also has categories. There are two types of PMAY schemes. The types are
based one basis on the area of their focus.
1. PMAY
– G (Pradhan MantriAwasYojanaGramin) – This scheme was previously known by the
name Indira AwasYojana. It was renamed PMAY – G in 2016. This Yojana focuses on
the development of accessible and affordable housing units in rural areas.
2. PMAY – U (Pradhan MantriAwasYojana Urban) – This Scheme is also known by the short name PMAYU. This scheme focuses on the development of houses in the Urban area. This scheme is functional in about 4,331 towns.
Phases of PMAYU: -
This
scheme is being implemented in three phases: -
1. Phase
1 – 100 cities were targeted across India from April 2015 to March 2017.
2. Phase
2 – 200 more cities were targeted across India from April 2017 to 2019.
3. Phase 3 – All the targeted cities were included.