Pradhan Mantri Awas Yojana 2024: The Pradhan Mantri Awas Yojana-Urban 2.0 (PMAY-U 2.0) is an initiative launched by the Government of India to address urban housing challenges and uplift the quality of life for economically weaker sections. Yojana is approved by the Union Cabinet under the leadership of the Hon'ble Prime Minister Shri Narendra Modi, in which financial assistance will be provided to 1 crore urban poor and middle-class families through States/Union Territories (UTs)/PLIs to construct, purchase or rent a house at an affordable cost in urban areas in 5 years starting from September 1, 2024.
It is a flagship program in which the government has invested Rs 10 lakh crore, with the aim of addressing the housing needs of one crore families, ensuring that every citizen leads a better quality of life. It aims to fulfil the “Housing for All” vision by providing all-weather pucca houses to eligible beneficiaries in urban areas.
Pradhan Mantri Awas Yojana 2024
PMAY-U 2.0 is designed to provide Rs 2.50 lakh in aid for each housing unit. It has a total investment of Rs 10 lakh crore, reflecting the government's commitment to urban growth and inclusion. The funds will directly benefit urban poor and middle-class families by allowing them to get safe and secure housing.
In this preference will be given to widows, single women, persons with disabilities, senior citizens, transgenders, persons belonging to Scheduled Castes/Scheduled Tribes, minorities, and other weaker and vulnerable sections of the society. Special focus will be given to Safai Karmi, street vendors identified under the PM SVANidhi Scheme and different artisans under the Pradhan Mantri-Vishwakarma Scheme, Anganwadi workers, building and other construction workers, residents of slums/chawls and other groups identified during the operation of PMAY-U 2.0.
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PMAY-U 2.0 Eligibility Criteria
The families belonging to the EWS/LIG/MIG category, living in urban areas and having no pucca house anywhere in India, are eligible to purchase or construct a house under PMAY-U 2.0.
- Individuals who have been allotted a house under any of the housing schemes of the Central Government, State/UT Government and Local Self Government in the last 20 years in urban or rural areas shall not be eligible to seek benefits under PMAY-U 2.0.
- EWS households are defined as households with an annual income of up to ₹3 lakh. LIG is defined as households with an annual income from ₹3 lakh up to ₹6 lakh. MIG is defined as households with an annual income from ₹6 lakh up to ₹9 lakh.
PMAY-U 2.0 Verticals
PMAY-U 2.0 will be implemented through four verticals, which will provide flexibility to
the beneficiaries/States/UTs in choosing different options available under the scheme as described below
Beneficiary-Led Construction:
- EWS beneficiary to construct house on own land
- Provision of land patta/rights to the landless by States/UTs
- Geo-tag the construction stages of the house by beneficiaries.
- Release of instalment is linked to construction stage.
- Free of cost statutory approvals, if needed
- Upgrading of tenable slums with housing and infrastructure
Affordable Housing in Partnership (AHP)
- EWS beneficiaries to purchase/avail allotted houses in apartment projects by public/private sector agencies/parastatal agencies
- Redeemable housing vouchers for the purchase of houses in whitelisted private sector projects
- Various State Incentives to Public/Private Projects
- In-Situ Slum Redevelopment of Tenable Slums or Slum Resettlement
Affordable Rental Housing (ARH)
Model-1: Utilising existing government-funded vacant houses by converting them into ARH under PPP mode or by public agencies.
Model-2: Construct, operate, and maintain rental housing by private/public entities for urban poor, working women, employees of industries, industrial estates, institutions, and other eligible EWS/LIG families.
Interest Subsidy Scheme (ISS)
Max. loan value: Rs 5 lakh; max. House value: Rs 35 lakh
5 yearly installments of loan subsidy
Annual household income:
– EWS - up to ₹3 lakh
– LIG - up to ₹6 lakh
– MIG - up to ₹9 lakh
EWS/LIG/MIG- Loan Subsidy up to ₹1.80 lakh
How to Apply for PMAY-U 2.0
The beneficiaries can apply for the Pradhan Mantri Awas Yojana through the online and offline modes. Below, we have listed the steps for both modes.
Online
To apply through the online mode, candidates need to visit the official website.
- Visit the official PMAY-U website.
- Click on the PMAY-U Apply button.
- Fill in personal details, income group, and housing requirements.
- Upload necessary documents such as the Aadhaar card, income certificate, and proof of residence.
- Submit and download the application form for future reference.
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