A shelter or a home is one of the most important requirements of life. This is the place from where one derives strength and energy to fight the battle of life. But unfortunately, there are many people in India who do not have a shelter above their head. After independence, many Governments have launched various schemes to alleviate the poverty and housing problems of the country. Of all the schemes the PradhanMantriAwasYojana launched by Narendra Modi on 25th June 2015 seems to be the most ambitious and promising project. It targets to build at least 2 crore affordable accommodations for the people who do not have enough money to build their dream houses. The benefits of this scheme are discussed in the following sections.
Housing for All:
As mentioned earlier, the main benefit of this scheme is that the homeless people will get home by 2022. As the scheme gives preference to the low-income group, your per annum income has to be within a certain range to become eligible for this scheme. Most importantly, you should not own a pucca house if you want to be eligible for this scheme. This scheme has been designed to work in three phases. The first phase begins from April 2015 to March 2017 covering 100 cities of the country. The second phase starts from April 2017 to March 2019 covering 200 selected cities. The final phase will commence from 2019 to 2022 covering all the remaining cities.
Benefits for Women and Senior Members:
There are many women in this country who are not financially stable and struggle a lot to make both ends meet. This scheme is a great opportunity for those women who want to have their own house. If you are a woman without a pucca house and belong to the lower income group, then you will be given priority over a male candidate. Some people also call it a pro-woman scheme. The senior citizens of lower income group will also avail special benefits under this scheme. The physically challenged people and the senior citizens are promised to be provided with the ground floor to ensure their physical comfort.
Subsidized Rate of Interest:
This scheme offers a great amount of subsidy which is the best thing about this scheme. Someone who belongs to the economically weaker section of the society will get a subsidy between 100,000 to 230,000 to build a new house. Under this scheme, the rate of interest on bank loans also gets considerably reduced for eligible candidates. You need to pay only 6.5% interest if you take a loan up to 6 lakhs and 4% interest if the loan is up to 9 lakhs. This interest rate is going to help people to save a considerable amount of money. If the program gets completed successful, it will be an extremely proud moment for all Indians. India will finally become a country that will not have a single homeless person.