PMAY-U delivers 85 lakh houses of 118 lakh sanctioned as of July 15

NEW DELHI: The Ministry of Housing and Urban Affairs, Government of India, has informed through a press release that out of the 118.65 lakh houses sanctioned under the Pradhan Mantri Awas Yojana—Urban (PMAY-U) as of July 15, 114.33 lakh houses have been grounded for construction and 85.04 lakh have already been completed and delivered. 

PMAY-U is a flagship scheme of the Government of India launched on June 15, 2015, to resolve the issue of housing needs in urban areas. Under this scheme, the central government provides fixed financial assistance of ₹1 lakh per house for In-Situ Slum Redevelopment (ISSR) and ₹1.5 lakh for Affordable Housing in Partnership (AHP) and Beneficiary-led Individual House Construction/Enhancement (BLC). Apart from that, the government also provided an interest subsidy of up to ₹2.67 lakh per house for beneficiaries of the Economically Weaker Sections (EWS) and Lower Income Groups (LIG) under the Credit Linked Subsidy Scheme.

The rest of the cost is borne by the states, union territories, urban local bodies, or the beneficiary. The scheme was expected to conclude by March 31, 2022, but it was extended to December 31, 2024, except for the credit-linked scheme.