What is Pradhan Mantri Awas Yojana ?

The Pradhan Mantri Awas Yojana (PMAY) is a Central Government scheme with the aim to provide Housing for All in urban areas by 2022.

Benefits

• The PMAY scheme offers a large number of families across the country an opportunity to purchase a house at a low cost. This is done through interest subsidies.
• The beneficiary families of the Pradhan Mantri Awas Yojana receive credit or interest subsidies on their home loan. The amount of interest subsidy is based on the income category to which the family belongs.

 Features

• Interest subsidy of 6.5 percent on housing loan will be provided for 15 years to the beneficiaries.
• Older and Differently abled persons will be given preference in the allotment of ground floors under the Pradhan Mantri Awas Yojana scheme.
• Eco friendly and sustainable technologies will be used during the construction process.

Details of Pradhan Mantri Awas Yojana are as follows.