PradhanMantriAwasYojana and Its Features


In India, many people live below the poverty line and without any roof above their head. The accommodation issue is one of the major issues of the country. The ever-increasing population of this country also fuels the issue. The Central Government of India has initiated a noble project to provide accommodation to people who are socially and economically weak. This revolutionary project is called PradhanMantriAwasYojana or PMAY. This scheme is described as one of the most ambitious and noble schemes introduced by the Government of India. The major objective of this scheme is to provide accommodation to every Indian citizen by 2022.

Pradhan Mantri Gramin Awas Yojana:

There are two parts of this scheme, one of them is PradhanMantriGramninAwasYojana and the other is PradhanMantriAwasYojana (urban). As the name suggests PMAY Gramin is an ambitious project to provide affordable accommodation to the economically weaker section of the rural area. By the year 2022, PMAY Gramin targets to build at least 1 crore homes in the rural area. One can also take home-loan under this scheme. This loan can be used either to renovate an existing home or to build a new one.

How to Apply for PradhanMantri Awas Yojana Loan?

PradhanMantriAwasYojana is not for everyone. Only economically backward people can benefit from this scheme. There are three sections of society who can apply for this project and they include MIGs or Middle-Income Groups, LIGs or Lower Income Groups and EWS or Economically weaker section. The application procedure for this scheme is very simple and easy. There are various websites on the internet who provide information on the application procedure. If you face any problem while applying to this scheme, you may seek the assistance of these websites or someone knowledgeable.

PMAY (Urban):

The PradhanMantriAwasYojana Urban is another component of PMAY. This scheme targets to provide accommodation to every urban dweller by 2022. This scheme has been developed for all the states and union territories. Anyone who buys a house in this scheme will get a subsidy up to 2.35 lakh. If your annual income is between 6-12 lakhs, you can avail 4% interest subsidy on a loan up to Rs. 9 lakhs and you will get 3% interest subsidy on a loan up to Rs. 12 lakhs if your annual income is in the range of 12-18 lakhs.

How to Apply for PMAY (Urban)?

Firstly, to apply for PMAY (Urban) scheme, your annual income has to be under 3 lakhs. Families who can prove that their annual income ranges between 3 lakhs to 6 lakhs will become eligible to be beneficiaries of this scheme. You can apply to this scheme either through CSC or online. If you are the doing it online, you won’t be charged a single penny and if you are seeking the help of a CSC, you have to give a fee of Rs. 25.

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