PM Housing Scheme

What is Pradhan Mantri Awas Yojana?
Pradhan Mantri Awas Yojana premiered for the exact purpose to make housing at a reasonable cost to the weaker people the society, lower income group people, urban poor, and non-urban poor. The Scheme involves a construction of around 2 Crore houses at a reasonable price by 31st March 2022. The scheme is getting financial aid of USD 31 billion from the Central Government.
This Housing Scheme features two aspects:
Pradhan Mantri Awas Yojana Urban (PMAY-U)


Pradhan Mantri Awas Yojana Gramin (PMAY-G)
Primary ingredients of Pradhan Mantri Awas Yojana
In-Situ Redevelopment of slums using land like a resource, using the participation from the non-public sector. This Program is aimed at leveraging the potential of land under slum areas and providing formal urban establishments to slum dwellers.
Credit Linked Subsidy - Under this scheme, the government provides an interest subsidy of 6.5% on housing loans for Fifteen years from the start of the loan, which will make housing affordable. The Net Present Value (NPV) of the interest subsidy shall be calculated at a discount rate of 9%. The loan amount of Rs 6 lakhs is only applicable for the credit-linked subsidy scheme and any amount beyond Rs 6 lakh won't attract any subsidy. The lending institutions will directly credit the interest subsidy to the beneficiaries’ accounts resulting in reduced Equated Monthly Installment (EMI) and reduced housing loan.

Affordable Housing in Partnership (AHP) - In partnership using the Public and Private sector, affordable housing will likely be presented to the EWS Families. The States or Union Territories, either with various agencies or in partnership with various industries can plan affordable housing projects.

Enhancement and construction of beneficiary led house - Underneath this aspect, the beneficiaries who are not able to avail the many benefits of the above three components will be benefited. This mission provides help to families of EWS category to make new houses or enhance the existing houses on their own to cover the beneficiaries. Under this mission, families will have a central assistance of Rs 1.50 lakh to enhance their existing houses or construct new houses. Under the Pradhan Mantri Awas Yojana, the houses will be designed with eco-friendly technology and preference will be provided to old and disabled while allotting ground floors.
Good News for Beneficiaries : Now, the Government is Providing the Facility to Check Name in Pradhan Mantri Awas Yojana List