Pradhan Mantri Awas Yojana | प्रधानमंत्री ग्रामीण आवास योजना
Pradhan Mantri Awas Yojana aims to provide affordable housing, with new initiatives in urban and rural areas for eligible beneficiaries.
PMAY-Urban 2.0 Implementation
The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved Pradhan Mantri Awas Yojana-Urban 2.0 (PMAY-U 2.0). This phase aims to construct, purchase, and rent 10 million houses for eligible beneficiaries at affordable costs. The scheme emphasizes women's ownership, with provisions for 100% ownership of houses by women in its second phase.
Interest Subsidy Reinstated
The government has reinstated the interest subsidy under PMAY-U 2.0, allocating ₹4,000 crore for the scheme. This move is expected to boost affordable housing by providing financial assistance to beneficiaries.
Rural Housing Targets
The Ministry of Rural Development aims to sanction 10 lakh houses under the Pradhan Mantri Awas Yojana-Gramin (PMAY-G) in January 2025. This initiative is part of the government's efforts to create poverty-free villages through efficient implementation of housing schemes.
Affordable Housing Loan Scheme
A new housing loan scheme is on the horizon, targeting low and middle-income groups. Loans up to ₹20 lakh will be available without the need for collateral, with the government guaranteeing a portion of the loan. This initiative aims to make homeownership more accessible to a broader segment of the population.
Beneficiary Identification Survey
The government has launched a survey to identify new beneficiaries for its rural housing scheme. Eligible rural households can conduct self-surveys via a mobile app or with assistance from trained surveyors. This phase aims to construct two crore houses over five years, benefiting an estimated 10 crore people.
These developments underscore the government's commitment to providing affordable housing and improving living standards across both urban and rural areas in India.
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