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All About PMAY You Should Know

PMAY or Pradhan Mantri Awas Yojana is a Government of India initiative to promote ‘housing for all’. This was brought to action by the present PM Narendra Modi and proposes to build about 2 crore houses by the year 2022 to develop both rural and urban areas and make a better living condition for all.
 

Housing For All Scheme

This scheme was primarily brought to support the cause of housing for all. Especially designed for the weaker section of the society for both rural and urban regions, PMAY is a beneficial scheme. If you want to know about PMAY yojana, you need to understand that this policy is to help and support all those people who need financial assistance to build their own house. If you fall under the low-group income category without a permanent residence of your own, you can apply for this scheme.
 

Its Importance

 

This was also done to develop underdeveloped areas and to urbanise the slum areas. Along with this, housing has become affordable for this scheme. If you are a resident of the urban area then you are entitled to PMAY- U and if you are a rural dweller you are entitled to PMAY- R.

It is necessary to know about PMAY yojana to better understand its features. One can get a subsidy of 6.5% on home loan interest rate and the term is of 20 years. Other than this, senior citizens will get compulsory ground floor housing construction.


PMAY is, after all, a scheme that takes care of the better living. Your house is your dream and you deserve to live in a place that you can call your own.

It is necessary to know about PMAY yojana to better understand its features. One can get a subsidy of 6.5% on home loan interest rate and the term is of 20 years. Other than this, senior citizens will get compulsory ground floor housing construction.

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