Title : PMAY

Description :

PMAY Brief Note of Pradhan MantriAwasYojana-Urban

The Government of India has launched Pradhan Mantri Awas Yojana-Urban (PMAY-U) with the objective of assisting the beneficiaries of Economically Weaker Section (EWS) and Low Income Group (LIG) categories of urban area in new construction/purchase or up-gradation/enhancement of existing house for their use. There is also provision of interest subsidy on home-loan for Middle Income Group (MIG-I) and Middle Income Group (MIG-II) categories. The PMAY(U) is divided into following four major verticals:

• Subsidy for beneficiary-led individual house construction
• Affordable Housing in Partnership
• “In situ” Slum Redevelopment-using land as a resource with private participation
• Credit Linked Subsidy-Interest subsidy for EWS/LIG and Middle Income Group (MIG) for new/ incremental housing

In view of weak financial position of most of the urban poor, the State Govt. has decided to provide State Financial assistance @ 40% in proportion to Central assistance to all the eligible beneficiaries. Thus, the total financial assistance under different components may be availed by beneficiaries as under: (Rs. in Lac)