Pradhan Mantri Awas Yojana-Urban 2.0
The Union Cabinet chaired by Hon’ble Prime Minister Shri Narendra Modi approved Pradhan Mantri Awas Yojana-Urban 2.0 under which financial assistance will be provided to 1 crore urban poor and middle-class families through States/Union Territories (UTs)/PLIs to construct, purchase or rent a house at an affordable cost in urban areas in 5 years starting from 1st Sept 2024. PMAY-U 2.0 is one of the major flagship programmes being implemented by Government of India to provide all-weather pucca houses to all Eligibility beneficiaries in the urban areas. The Government assistance under PMAY-U 2.0 will be upto 2.50 lakh per unit.
In pursuance of the Hon’ble Prime Minister’s vision, PMAY-U 2.0, with an investment of ₹ 10 lakh crore, will address the housing needs of one crore families, ensuring that every citizen leads a better quality of life. The central assistance of 2.50 lakh crore will be provided ₹ under the Scheme.
TThe contours of PMAY-U 2.0 have been designed on the basis of learnings of PMAY-U scheme, global best practices/ benchmarks and outcomes of series of consultations with multiple stakeholders including States/UTs, Banks, Housing Finance Companies, Private Sector etc.
Preference under the Scheme will be given to Widows, single women, Persons with Disabilities, Senior Citizens, Transgenders, persons belonging to Scheduled Castes/Scheduled Tribes, Minorities and other weaker and vulnerable sections of the society. Special focus will be given to Safai Karmi, Street Vendors identified under the PM SVANidhi Scheme and different artisans under the Pradhan Mantri-Vishwakarma Scheme, Anganwadi workers, Building and Other Construction Workers, residents of slums/chawls and other groups identified during operation of PMAY-U 2.0.
PMAY-U 2.0 will be implemented through four verticals which will provide flexibility to the beneficiaries/States/UTs in choosing different options available under the Scheme.
Pradhan Mantri Awas Yojana – Urban 2.0 (PMAY-U 2.0) Scheme is aimed to provide all-weather pucca houses to all eligible urban households across the country with the vision of ‘Housing for All’. Ministry of Housing and Urban Affairs implements the scheme to provide financial assistance to eligible families in urban areas through the following four verticals:
Beneficiary Led Construction (BLC): The BLC vertical of the scheme shall provide financial assistance upto ₹2.5 lakh to individual eligible families belonging to EWS categories having annual income upto ₹3 lakh, to construct new pucca houses upto 45 sqm (an all-weather dwelling unit) on their own available land.
Affordable Housing in Partnership (AHP): Affordable Housing in Partnership (AHP) vertical shall provide financial Assistance to EWS beneficiaries for owning a pucca house. Under this vertical affordable houses of 30-45 sqm carpet area will be constructed by Public/Private Agencies and made available for allotment to the eligible beneficiaries of EWS category. Financial assistance of upto ₹2.5 lakh per EWS (annual income upto ₹3 lakh) flat is provided together by Central and State agencies on the purchase price of the property to the EWS beneficiary in AHP projects.
Affordable Rental Housing (ARH): This vertical shall ensure affordable and hygienic living spaces for urban dwellers who do not want to own a house but require housing on short term basis or those who do not have the financial capability to construct or buy a house. ARH will promote creation of adequate rental housing for EWS/LIG beneficiaries including urban migrants/homeless/destitute/industrial workers/working women/construction workers, urban poor (street vendors, rickshaw pullers, other service providers etc.), migrants working with market/trade associations, educational/health institutions, hospitality sector, /contractual employees/ amongst others. The State/UT Governments shall ensure that necessary civic/social infrastructure gaps like water, sewer/ septage, sanitation, internal road, community centre, health centre, creche etc. along with desired neighbourhood commercial facilities within the campus as per the requirement are addressed to make these houses liveable. EWS and LIG beneficiaries having annual income of ₹3 lakh and ₹6 lakh respectively can avail of this facility.
Interest Subsidy Scheme (ISS): Under the Interest Subsidy Scheme (ISS) vertical of PMAY-U 2.0, the subsidy will be provided on home loans sanctioned and disbursed on 01.09.2024 or after to eligible beneficiaries of EWS/LIG and MIG for purchase/ repurchase/construction of houses. Households belonging to EWS, LIG and MIG category with an annual income of up to ₹3 lakh, ₹6 lakh and ₹9 lakh, respectively will be eligible to avail the benefit of the Scheme. For identification as an EWS/LIG/MIG beneficiary under the Scheme, an individual loan applicant will submit a proof of income.
APPLY ONLINE CLICK HERE
APPLICATION STATUS CLICK HERE
