Under the scheme, three crore new rural and urban houses at the cost of Rs 3,60,000 crore will be constructed “to meet the housing requirements arising out of the increase in the number of eligible families.”
“In the last 10 years, 4 crore houses, a big social transformation has come from Pradhan Mantri Awas Yojana. A detailed discussion has taken place for the implementation of 3 crore more new houses, it was one of PM Modi’s early promises. The budget provision for this will be Rs 3,60,000 crores. 2 crore houses will be in rural areas and 1 crore houses will be in urban areas,” said Vaishnaw.
Financial assistance will be provided to 1 lakh urban poor and middle-class families in 5 years, as per the scheme.
What is the eligibility criteria?
- Families belonging to EWS/LIG/Middle Income Group (MIG) segments having no pucca house anywhere in the country are eligible to purchase or construct a house under PMAY-U 2.0.
- EWS households are families with an annual income up to Rs 3 lakh.
- LIG households are families with an annual income from Rs 3 lakh up to Rs 6 lakh.
- MIG households are families with an annual income from Rs 6 lakh up to Rs 9 lakh.
PMAY-U is one of the major flagship programmes being implemented by Government of India to provide all-weather pucca houses to all eligible beneficiaries in the urban areas. Under PMAY-U, 1.18 crore houses have been sanctioned while more than 85.5 lakh houses have already been constructed and delivered to the beneficiaries.
Prime Minister Modi in his Independence Day speech on August 15t last year had announced that the government will come up with a new scheme for the coming years to provide benefit to weaker section and middle-class families in owning a house.
Content Source: economictimes.indiatimes.com