look news india
Pradhan Mantri Awas Yojana 2.0: Although the Central Government had started the Pradhan Mantri Awas Yojana-Urban in its first term, but its second phase was approved in August 2024. In this scheme, the government helps the urban poor and middle class families to realize their dream of owning a house. Let us tell you that 1.18 crore housing units were sanctioned under PMAY-U, out of which more than 85.5 lakh housing units have been completed and handed over to the beneficiaries and the remaining work is in progress. So government assistance of Rs 2.30 lakh crore will be provided under PMAVI-U 2.0 scheme.
What is the eligibility?
PMAVI-U 2.0 scheme will benefit those who fall under Economically Weaker Section (EWS)/Lower Income Group (LIG)/Middle Income Group (MIG). Besides, it is also necessary that the beneficiary should not have any permanent house of his own in the country. Such people will be eligible to buy or construct houses under PMAVI-U 2.0.
what is ews
The family whose annual income is up to Rs 3 lakh comes under the EWS category. So LIG for families with annual income between Rs 3 to 6 lakh and MIG for families with annual income between Rs 6 to 9 lakh.
implemented in four ways
PMAY-U 2.0 has been implemented under Affordable Housing in Partnership (AHP), Affordable Rental Housing (ARH) and Interest Subsidy Scheme (ISS) in addition to Beneficiary Based Construction (BLC).
Center
BLC and AHPB will provide assistance to individual eligible families belonging to EWS categories through LC for construction of house on their land. Affordable housing under AHP will be constructed by public/private organizations and made available for allocation to EWS beneficiaries with financial assistance. Adequate rental houses will be constructed in ARH for the beneficiaries of urban migrant working women/industrial workers/urban migrants/homeless/destitute/students and other similar stakeholders.
What is interest subsidy scheme?
Interest Subsidy Scheme provides subsidy on home loans for EWS/LIG and MIG families. Beneficiaries taking a home loan of Rs 25 lakh for a house up to Rs 35 lakh get a special facility. Such beneficiaries will be given first Rs. for a period up to 12 years. There will be eligibility for 4 percent interest subsidy on loan of Rs 8 lakh. Eligible beneficiaries will be given a subsidy of Rs 1.80 lakh through push button in installments of 5 years. We would like to inform you that beneficiaries can choose one component as per their eligibility and preference among the four components to avail benefits under the scheme.