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Pradhan Mantri Awas Yojana – Housing for All Scheme


Pradhan Mantri Awas Yojana – Housing for All Scheme, Having an own house is a dream of every Indian. But the day to day increasing cost of all the accessories which are necessary to build a house is making it very difficult in these days. India houses millions of people who do not have their own house. In order to provide these with an own house Prime Minister of India Shri Narendra Modi has introduced a scheme called “Prime Minister Awas Yojana” with an initiative of providing own house to every own having no house.

Pradhan Mantri Awas Yojana:

Under this scheme Government will construct affordable housing units for urban poor. Government has selected 4041 towns in different states for this scheme. The main aim of the government behind this scheme is to provide everyone having no home with own house by 2022. But as a part of initial plan 500 cities are selected to implement this project in a phased manner as:

  1. Phase – 1: In this phase  housing units will be created in the selected 100 cities in the period from April 2015 to March 2017
  1. Phase – 2: The 2nd phase of PM Awas Yojana will cover about 200 cities or more and will take place from April 2017 to March 2019.
  2. Phase – 3: The final phase of this scheme will take place between April 2019 to March 2022. This will cover the remaining cities.

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Following are the beneficiaries of this scheme

  1. Women (Including widows)
  2. People belonging to scheduled casts
  3. People belonging to scheduled tribes
  4. Economically weaker sections.
  5. Those who own a pucca house will not be eligible for the benefit under this scheme.

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  1. Interest subsidy of 6.5% will be provided by the government on housing loans for 15 years.
  2. Allotment of homes will be done on the name of the male head of the family or on the joint name of the male and female head of the family.
  3. Central government will provide financial assistance from Rs 1 lakh to Rs 2.3 lakhs.
  4. Environment friendly technology and methods will be implemented in developing the housing units under this scheme.
  5. Older and differently abled persons will be given preference in the allotment of ground floors under this scheme.

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Subsidy, EMI and Interest Rate:

  1. Government on an average will provide a grant of Rs 1 lakh to the beneficiary.
  2. Subsidy of interest at 6.5% will be provided to the economically weaker sections and low income group people on the loans taken under this scheme.
  3. Government’s assistance of Rs 1.5 lakh will be provided to each beneficiary for promoting housing stock for urban poor and 35% of the dwelling units under this scheme would be reserved for economically weaker sections.
  4. Central government’s assistance of Rs 1.5 lakhs will be provided to eligible urban poor who can build new house or undertake improvements of existing houses.

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Execution of this scheme:

  1. Slum redevelopment:

Government will welcome the private participation using land as a resource to develop the housing units in slums.

  1. Economically weaker sections:

EWS: Those whose annual household income is less than or equals to Rs 3 lakhs will be eligible for 30 sq. mts house

LIG: Those whose household income is in between Rs 3-6 lakhs will be eligible for 60 sq mts house.

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