Launched in June 2015 and envisages Housing for All by 2022. It involves building of more than two crore houses in a span of seven years.
- The beneficiaries are poor and people living under EWS and LIG categories in the country.
- The scheme is divided into three phases.first phase: Total of 100 cities will be covered from April 2015 to March 2017. Second Phase : 200 cities will be covered from April 2017 to March 2019. Third phase, the leftover cities will be covered from April 2019 to March 2022.
- The government is providing an interest subsidy of 6.5% on housing loans which can be availed by beneficiaries for 15 years from start of loan date.
- The government will grant Rs 1 lakh to all the beneficiaries of the scheme. In addition, Rs 1.5 lakh will be given to all eligible urban poor who want to construct their houses in urban areas or plan to go for renovation in their existing houses. One can also avail loans under this scheme to build toilets in existing houses.
2 November 2016
- Memorandum of Understanding (MoU) has been signed by Ministry of Housing & Urban Poverty Alleviation and Common Services Centre e-Governance Services India Limited of the Ministry of Electronics and Information Technology
- 60,000 located in urban areas will enable online submission of applications from November 3,2016 at a nominal cost of Rs.25/- per application
26 November 2016
Over 12 lakh houses sanctioned for urban poor under PMAY(Urban)
- Central assistance of Rs.19,682 cr committed; Rs.6,172 cr released to States
- Under Pradhan Mantri Awas Yojana (PMAY), launched in June last year, a total of 12,27,088 affordable houses for Economically Weaker Sections (EWS) in urban areas have so far been approved with a total central assistance commitment of Rs. 19,682 cr of which Rs.6,172 cr has been already released. This was stated by Minister of State for Housing & Urban Poverty Alleviation Rao Inderjit Singh in a written reply in Lok Sabha today.