Housing for All Scheme

What Is the Housing for All Scheme or Pradhan Mantri Awas Yojana?

The Housing For All Scheme or Pradhan Mantri Awas Yojana (PMAY) is an initiative taken by the Government of India which aims to provide affordable housing to the urban poor people by the year 2022. This scheme was first launched on 1st June 2015 by the Government of India and the interest rate for this scheme starts at 6.50% per annum. It can be availed for a tenure of up to 20 years. The last date for availing of this scheme for the EWS and LIG categories has been extended to 31st March 2022.

The Finance Minister of the Country, Nirmala Sitharaman announced the Union Budget for the year 2021 where she proposed the extension of eligibility for affordable housing. She also announced affordable rental housing projects and affordable rental housing for migrant workers. She further announced that an additional deduction of Rs. 1.5 lakh for all the housing loans which will be availed before 31st March 2022 and an extension for availing tax holidays for affordable housing projects by 31st March 2022.

What Are The Features of The Housing For All Scheme or Pradhan Mantri Awas Yojana (PMAY)?

The features of The Housing For All Scheme or Pradhan Mantri Awas Yojana (PMJAY) are mentioned below:

• The subsidy rate of interest under this scheme is 6.50% per annum on the housing loan for a tenure of 20 years to all the beneficiaries.
• Senior citizens and differently-abled will also be given preference in the allocation of the ground floors.
• Eco-friendly and sustainable technologies would be used for construction
• The scheme will cover an entire urban area in India which includes 4041 statutory towns with the first priority given to 500 class 1 cities.
• This procedure is divided into three phases.
• The credit linked subsidy aspect of the Prime Minister Awas Yojana will get implemented in the country in all statutory towns from the initial stages.

Who Are The Beneficiaries Of The Housing For All Scheme or Pradhan Mantri Awas Yojana (PMAY)?

The beneficiaries of the scheme are listed as under:

In addition to these beneficiaries, people belonging to the ST, SC and OBC categories and women belonging to LIG and EWS income groups will also be eligible for this scheme.

What Is The Eligibility Of The Housing For All Scheme or Pradhan Mantri Awas Yojana (PMAY)?

The Government of India will be using The Socio-Economic and Caste Census of 2011 (SECC 2011) in order to identify and select the list of the beneficiaries of this scheme. The village panchayats along with the tehsils will be considered for consultation of the beneficiaries before making this list of the rural housing schemes. It will be done in order to ensure the transparency of the project.

List of State Level Nodal Agencies for The Housing For All Scheme or Pradhan Mantri Awas Yojana (PMAY) 

Housing For All Scheme or Pradhan Mantri Awas Yojana (PMJAY) FAQs

✅ How much time will it take to get the subsidy amount from the Housing For All Scheme?

It usually takes around 3 to 4 months for the subsidy amount to be credited to you.

✅ What is the maximum annual income should I have to be eligible for the Housing For All Scheme?

The maximum annual income has to be less than Rs. 18 lakh.

✅ Is there any registration fee for Housing For All Scheme?

Yes, you will have to pay Rs. 25+ service tax at the Common Service Centres.