The Pradhan Mantri Awas Yojana-Urban (PMAY-U) scheme was launched on June 25, 2015, to provide housing for all in urban areas by the end of December 2024. The mission aims to meet the demand for 1.12 crore houses. As part of the scheme, assistance is provided to implementing agencies, state/union territories, and central nodal agencies to provide houses to all eligible families and beneficiaries.
Beneficiaries
- Economically Weaker Section (EWS): Max annual family income of up to 3,00,00
- Low Income Group (LIG): Maximum annual family income of up to `6,00,000
- Middle Income Groups (MIG I & II): Maximum annual family income of up to `18,00,000
Components of PMAY-U
- In-situ Slum Redevelopment: Assistance of `1 lakh per dwelling for qualified slum residents during redevelopment.
- Credit Linked Subsidy Scheme: Interest subsidy of 6.5 per cent on a loan of up to `6 lakh.
- Affordable Housing in Partnership: `1.5 lakh for each EWS dwelling unit
- Beneficiary-led Individual House Construction/Improvement: `1.5 lakh as Central Assistance to EWS for constructing or improving individual houses.