PMAY-Urban has registered outstanding success. So far, about 1.12 crore houses have been sanctioned for their beneficiaries, out of which more than 83 lakh houses are grounded and more than 50 lakh completed.
In pursuance of the Government’s vision of ‘Housing for All (HFA)’ by 2022, the Ministry of Housing and Urban Affairs (MoHUA) is implementing Pradhan Mantri Awas Yojana-Urban (PMAY-U) since 25.06.2015 for providing assistance to States/ Union Territories (UTs).
1. In-situ Slum Redevelopment (ISSR): Central Assistance of Rs. 1 lakh per house is admissible for all houses built for eligible slum dwellers under the component of ISSR using land as a resource with the participation of private developers.
2. Credit Linked Subsidy Scheme (CLSS): Beneficiaries of Economically Weaker Section (EWS)/Low Income Group (LIG), Middle Income Group (MIG)-I and Middle Income Group (MIG)-II seeking housing loans from Banks, Housing Finance Companies and other such institutions for acquiring, new construction or enhancement of houses are eligible for an interest subsidy of 6.5%, 4% and 3% on loan amount up to Rs. 6 Lakh, Rs. 9 Lakh and Rs. 12 Lakh respectively.
3. Affordable Housing in Partnership (AHP): Under AHP, Central Assistance of Rs. 1.5 Lakh per EWS house is provided by the Government of India.
4. Beneficiary-led Individual House Construction/ Enhancement (BLC-N/ BLC-E): Central Assistance up to Rs. 1.5 lakh per EWS house is provided to eligible families belonging to EWS categories for individual house construction/ enhancement.
5. Affordable Rental Housing Complexes (ARHCs) for Migrant Workers/ Urban Poor:
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