Pmay.u

• ClearIAS • What we offer: • Free Resources • Premium Resources • Courses • All Courses • Prelims Programs • Mains Programs • Interview Programs • PCM • Prelims cum Mains: Target 2024 • Prelims cum Mains: Target 2025 • Prelims cum Mains: Target 2026 • Prelims cum Mains: Target 2027 • PTS • UPSC Prelims Test Series 2024 • UPSC PYQ GS • UPSC PYQ CSAT • Study Materials • ClearIAS Blog • FREE Study Materials • Guidance Articles • UPSC Books • UPSC PDFs • ClearIAS Courses • ClearIAS Mobile Apps • UPSC • UPSC • UPSC Syllabus • UPSC Exams • UPSC Results • UPSC FAQs • Toppers • Reviews • UPSC Toppers • What’s New? • Latest Updates • New Courses • Login What is Pradhan Mantri Awas Yojana-Urban(PMAY-U)? Who are the beneficiaries of the scheme? What are its features? Read further to know more. India is home to nearly 1.3 billion people. With the rising population, the absolute number of families living in huts or shacks has continued to grow. It was the unflinching commitment of the government to build and provide pucca houses to change the living conditions of poor people in both rural and urban areas, that culminated in the launch of Pradhan Mantri Awas Yojana – Gramin and Urban. Table of Contents • • • • • • • What is Pradhan Mantri Awas Yojana-Urban (PMAY-U)? PMAY-U is one of the major flagship programs being implemented by the Government of India, to provide all qualified beneficiaries with all-weather pucca homes in the nation’s urban areas through States, UTs, and Central Nod...

What is the Pradhan Mantri Awas Yojana-Urban? The government had launched the Pradhan Mantri Awas Yojana (Urban) on June 25, 2015, to provide pucca houses to all eligible beneficiaries by 2022. The PMAY-U is one of the two schemes envisioned under the PMAY-U. It is focused on the urban areas, while the other one—PMAY-G—is for rural areas. The scheme has four verticals: “In-situ” Slum Redevelopment (ISSR); Credit Linked Subsidy Scheme (CLSS); Affordable Housing in Partnership (AHP) and Beneficiary-led individual house construction/enhancements (BLC), As per information available on the PMAY-U, 1.21 crore houses have been sanctioned under the scheme till May 9 2022, of which 58.82 lakh houses have been completed/delivered. A maximum number of 28.17 lakh houses have been built under the BLC vertical. The remaining 30.65 lakh houses have been built under the other three verticals—ISSR, CLSS and AHP. How much money has been spent on the PMAY-U? The Centre has committed Rs 2.01 lakh crore for the PMAY-U, of which Rs 1.18 lakh crore has been released and Rs 1.10 lakh crore has been spent. What is the Beneficiary-led individual house construction/enhancements (BLC)? Under the BLC vertical, a beneficiary receives a financial assistance of Rs 2.5 lakh from the government to build his or her house. The PMAY-U guidelines define a beneficiary family as a family comprising of “husband, wife and unmarried [sons and/ or unmarried daughters.]” “The beneficiary family should not own a pucca...

Pradhan Mantri Awas Yojana was launched under the ‘Housing for All’ (HFA) mission in 2015. As per its Credit Linked Subsidy Scheme component, beneficiaries who opt for a PMAY 2021-22 Beneficiary • A beneficiary family comprises a husband, wife, unmarried sons and/ or unmarried daughters • An adult earning member (irrespective of marital status) can be treated as a separate household Particulars MIG I MIG II Household Income (Rs. p.a) 6,00,001-12,00,000 12,00,001-18,00,000 Eligible Housing Loan Amount for Interest Subsidy (Rs.) Up to 9,00,000 Up to 12,00,000 Interest Subsidy (% p.a.) 4.00% 3.00% Maximum loan tenor (in years) 20 20 Maximum dwelling unit carpet area 160 Sq. m. 200 Sq. m. Discount Rate for Net Present Value (NPV) calculation of interest subsidy (%) 9.00% 9.00% Max. Interest Subsidy Amount (Rs.) 2,35,068 2,30,156 Lump sum amount paid per sanctioned to PLIs in lieu of Processing Fee (Rs.) to the extent of loan amount on which subsidy is applicable 2,000 2,000 Application of scheme on existing home loans sanctioned on or after 01.01.2017 Applicability of No Pucca House Yes Yes Woman Ownership/ Co-ownership Not mandatory Not mandatory Quality of House/ Flat Construction National Building Code, BIS Codes and as per NDMA Guidelines adopted Approvals for the Building Design Compulsory Basic Civic Infrastructure (water, sanitation, sewerage, road, electricity etc.) Compulsory *The details mentioned above are based on the scheme framed by the Government of India under ...

The Cabinet, chaired by Prime Minister Narendra Modi, has extended the Pradhan Mantri Awas Yojana-Urban (PMAY-U) scheme till December 31, 2024, wherein financial assistance is to be provided for the completion of already sanctioned 122.69 lakh houses till March 31, 2022, according to an official statement. PMAY-U Housing for All is a major flagship programme being implemented by the government to provide all-weather pucca houses to all eligible beneficiaries in the urban areas across the country. The statement said that during 2004-14, 8.04 lakh houses were completed under the urban housing scheme. Under the Prime Minister Narendra Modi-led government, the issue of providing houses to all eligible urban dwellers in saturation mode was brought into focus and the scheme of PMAY-Urban was conceptualised. In 2017, the original projected demand was 100 lakh houses. “Against this original projected demand, 102 lakh houses have been grounded/under construction. Further, out of these, 62 lakh houses have been completed. Out of the total sanctioned 123 lakh houses, the proposals of 40 lakh houses were received late (during the last two years of the scheme) from the states/ UTs which require another two years to complete them. Therefore, based on the requests from the states/ UTs, the Union Cabinet decided to extend the implementation period of PMAY-U till December 31, 2024," according to the statement. It added that the central assistance approved since 2015 is Rs 2.03 lakh crore a...