Pradhan mantri awas yojana – wikipedia gas finder

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Pradhan Mantri Awas Yojana ( PMAY), with two components Pradhan Mantri Awas Yojana (Urban) ( PMAY-U) for the urban poor and Pradhan Mantri Awaas Yojana (Gramin) ( PMAY-G and also PMAY-R) for the rural poor, is an initiative by Government of India in which affordable housing will be provided to the urban poor with a target of building 20 million affordable houses by 31 March 2022. [1] [2] [3] [4] This scheme is converged with other schemes to ensure houses have a toilet, Saubhagya Yojana electricity connection, Ujjwala Yojana LPG gas connection, access to drinking water and Jan Dhan banking facilities, etc. [5] Cumulative total number of funded houses approved thus far is 39,25,240 in urban area including the subsumed RAY scheme and completion of construction of 5 million rural houses by March 2018 and 10 million rural houses by March 2019 (c. Feb 2018). [6] [5]

The features of Pradhan Mantri Awas Yojana are that the government will provide an interest subsidy of 6.5% on housing loans availed by the beneficiaries for a period of 20 years under credit link subsidy scheme(CLSS) from the start of a loan. the houses under Pradhan Mantri Awas Yojana would be constructed through a technology that is eco-friendly, while allotting ground floors in any housing scheme under PMAY, preference will be given to differently abled and older persons. Finance [ edit ]

The government has approved an investment of ₹439.22 billion (US$6.7 billion) for construction of 6,83,724 houses for urban poor including central assistance commitment of ₹100.50 billion (US$1.5 billion) by April 2016. [7] Eligibility criteria [ edit ]

Condition for PMAY: (a) Beneficiary max age 70 years, (b) EWS (Economic Weaker Section) annual income Less than Rupees 3 Lac and LIG (Lower Income Group) Annual Income 3,00,001 to 6,00,000 Lac INR as well as Mid Income group since Feb 2017, and (c) The beneficiary should not have an own dwelling unit on the name of any family member in any part of India. [4]

As of 25 April 2016, the government has identified 2,508 cities and towns in 26 states for beginning construction of houses for urban poor. [11] Construction of 1,86,777 additional houses for the benefit of urban poor with an investment of Rs.11,169 cr with central assistance of Rs. 2,797 cr was approved in February 2018, taking the cumulative total houses approved to 39,25,240 houses including subsumed RAY scheme, of the targeted 20 million houses by March 2022. [6]

IIFL Home Loans have been helping beneficiaries avail Credit linked Subsidy under Pradhan Mantri Awas Yojana across the country. Till 17 August 2017, the company has helped 4187 beneficiaries avail government subsidy. [12] ICICI Bank is giving subsidised home loans to the people eligible for this scheme. [13] AU Housing Finance Limited is also doing subsidy based funding under this scheme.

"Rajiv Awas Yojana (RAY)" was an Indian government program that attempts to help slum dwellers gain appropriate housing and address the processes by which slums are created and reproduced. It was introduced by the Indian government’s Ministry of Housing and urban poverty Alleviation. [14] The programme was a Centrally Sponsored Scheme, which ran from 2013 to 2014. [15] The scheme aimed to make India slum-free by 2022 by providing people with shelter or housing, free of cost. It began with a pilot project, before launching in mission mode. [16] The government earmarked ₹322.30 billion (US$4.9 billion) for its implementation during India’s 12th Five Year Plan. [14] One million beneficiaries were proposed to be covered under Rajiv Awas Yojana. [17]

Site selection was to be made by the states in consultation with the Centre giving priority to district headquarters, cities of religious heritage and tourist importance, with due consideration to the criterion of the pace of growth of the city, of slums within the city and predominance of Scheduled Caste, Scheduled Tribe and minority population and other weaker and vulnerable section of the society. [14] SBI has now slashed down the interest-rate of home loans above Rs. 75 lakh by 10 basis points. From June 15, 2017, the rate for the same will be 8.55-8.6%. References [ edit ] See also [ edit ]