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All You Need to Know About Pradhan Mantri Awas Yojana

PMAY or the Pradhan Mantri Awas Yojana was initiated by the Honorable Prime Minister of India, Shri Narendra Modi ensure even those people have a roof over their heads who are not financially well-off.

The Pradhan Mantri Awas Yojana was launched on June 1, 2015 and was aimed at providing affordable pucca housing solutions to the poor living in both urban and rural areas. In order to enable the development of low-cost homes, a number incentives were passed on by the Government to the developers to help them tide over their financial instabilities.

What does it entail?

PMAY aims to provide affordable housing to those individuals who fall under LIG (Low Income Group), MIG (Middle Income Group), and EWS (Economically Weaker Sections). Considering the size of the project, it has been divided into two parts – PMAY Urban and PMAY Gramin.

PMAY Urban – The focus here is to convert urban slums with temporary housing units with pucca or permanent houses

PMAY Gramin – This scheme is applicable for those living in rural areas and will also include those living on rent or those who already own a house but which requires construction can also avail this scheme.


Eligibility Criteria

There are two aspects to PMAY. Firstly, it will offer permanent housing solutions to those who belong to LIG, MIG, and EWS segments and secondly, a credit liked subsidy scheme or CLSS can be availed on home loans that are availed for construction, extension, and improvement of already existing properties.

To avail CLSS, following is the eligibility criteria –

  • The applicant should not own a pucca house in either her/his name or any of her/his family member’s name anywhere in the country,
  • In case of a married couple, either of the spouse or both of them in joint ownership can apply for a single subsidy
  • They applicant should not have availed any central assistance under any housing scheme from the Government or under PMAY earlier.

Reference Read: Pradhan Mantri Awas Yojana- A Roof for the Middle Income Group

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