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What Essential Things To Know About Pradhan Mantri Awas Yojana?

Pradhan Mantri Awas Yojana or the PMAY is a scheme launched by the Government of India to facilitate housing for all by 2022. It was stated that every individual of the weaker sections of the society who does not own a house will get a house building fund from the government. It was also open for the Middle-income group of the society.
Some of the essential things one must know about Pradhan Mantri Awas Yojana are:

The Objectives of PMAY

  • Enhancing houses as a legacy.
  • Promote the affordable housing scheme by the CLSS method.
  • Housing for the slum dwellers.
  • Affordable housing funds from both private and government subsidy.

The Features:

  • The interest subsidy offered by the government on home loans has a tenor of 20 years. This can be availed under the Pradhan Mantri Awas Yojana 2019.
  • Preference is given to women, senior citizens and backward classes as well as the minority class.
  • For the disabled and senior members, the ground floor accommodation has been made compulsory.

Eligibility Criteria
Without proper PMAY eligibility criteria, one cannot avail of the benefits of this scheme.
The things one must meet are as follows:​

  • The applicant must have a family consisting of spouse and unmarried children.
  • One must not own a pucca house in any part of the country.
  • The applicant cannot be a beneficiary under any central government scheme.

This scheme aims at constructing houses for poor and weaker section people. This will also bring a positive change in the growth and development of the nation. Learn more and stay informed about the PMAY.

Additional Read: What Essential Things To Know About PMAY?

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