Pradhan Mantri Awas Yojana( PMAY)
What’s The Pradhan Mantri Awas Yojana( PMAY)?
The Pradhan Mantri Awas Yojana( PMAY) is an action of the Government of India which aims at furnishing affordable casing to the civic poor by the time 2022.
The scheme was first launched on 25 June 2015. The interest rate for the PMAY scheme starts at6.50 sire and can be profited for a term of over to 20 times.
The perpetration period of the PMAY- Urban scheme has been extended until 31 December 2024. The decision was made by the Union Cabinet after requests from Union homes and countries. before, the end was to give houses by March 2022.
Features and Benefits of PMAY Scheme
- Under the PMAY Scheme, a Subsidy interest rate is handed at6.50 sire on casing loan for the term of 20 times to all the heirs.
- Else abled and elderly citizens will be given preference in allocation of ground bottoms.
- Sustainable andeco-friendly technologies would be used for construction.
- The scheme covers entire civic areas in the country which includes 4041 statutory municipalities with the first precedence given to 500 Class I metropolises. This will be done in 3 phases.
- The credit linked Subsidy aspect of the PM Awas Yojana gets enforced in India in all statutory municipalities from the original stages itself.
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Identification and Selection of Heirs under PMAY
- The Pradhan Mantri Awas Yojana( PMAY)-Civic scheme caters substantially to the casing conditions of the civic poor.
- The scheme also caters to the casing demand of slum residers abiding in confined areas of slums with shy structure, poor sanitation and drinking installations.
- Heirs of PMAY- U substantially include Middle Income Groups( MIGs), Low- income Groups( LIGs) and Economically Weaker Section( EWS).
- While the heirs from the EWS order are eligible for complete backing under the scheme, heirs from LIG and LIG orders are only eligible for the Credit Linked Subsidy Scheme( CLSS) under PMAY.
- In order to be recognised as a LIG or EWS devisee under the Scheme, the aspirant is needed to submit an affidavit as income evidence to the authority.
Type of PMAY Scheme
There are twosub-sections of the PMAY scheme which are divided on the base of the area on which they concentrate
1.Pradhan Mantri Awas Yojana Gramin- The Pradhan Mantri Awas Yojana – Gramin( PMAY- G) was preliminarily known as the Indira Awas Yojana and was nominated as PMAY- G in 2016.
The scheme is aimed at the provision of affordable and accessible casing units to eligible heirs in pastoral regions of India( banning Chandigarh and Delhi).
Under this scheme, the Government of India and the separate state governments partake the cost of development of casing units in the rate of 6040 for plain regions and 9010 for North- Eastern and hilly regions.
2. Pradhan Mantri Awas Yojana Urban- The Pradhan Mantri Awas Yojana – Urban( PMAYU), as the name suggests, is riveted towards the civic areas in India. At present, there,331 municipalities and metropolises which are enlisted under this scheme.
PMAY Loan Eligibility
The government will use the The Socio Economic and Caste Census of 2011( SECC 2011) to identify and elect the list of PMAY heirs.
The vill panchayats along with tehsils will be considered for discussion of heirs before making the list under the pastoral casing scheme.
This is going to be done in order to insure translucency of the design and also make sure that only the meritorious admit the aid in casing.