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Pradhan Mantri Awas Yojana (PMAY) is a government home loan scheme launched by Prime Minister Narendra Modi in June 2015 with the objective of providing cheap homes. It aims to provide more than 2 crore cheap houses with water connections, toilet facilities and 24-hour power supply to eligible families / beneficiaries by 31 March 2022.

Promoting affordable housing for the weaker section of the society through Credit Linked Subsidy (CLSS): The CLSS PMAY factor provides subsidy on home loan interest rates to those eligible for the scheme.

Types of Pradhan Mantri Awas Yojana

Pradhan Mantri Awas Yojana has been divided into two parts:

Pradhan Mantri Gramin Awas Yojana (PMAY-G)

Prime Minister s Urban Housing Scheme (PMAY-U)

Prime Minister Rural Housing Scheme (PMAY-G)

Pradhan Mantri Grameen Awas Yojana aims to meet the housing needs of the rural poor. Its purpose is to provide water infrastructure as well as financial assistance or pucca houses to all basic amenities, such as power supply, sanitation, etc., to the families living in raw houses in rural areas of India, except cities.

Prime Minister s Urban Housing Scheme (PMAY-U)

The Prime Minister s Urban Housing Scheme aims to cater to the housing needs of the poor in the city. Under this scheme, about 4,331 cities and towns have been selected.

This scheme will work towards progress in these 3 phases:

• Phase 1: It covers 100 cities between 1 April 2015 and March 2017 in select states / union territories.
• Phase 2: This phase includes 200 additional cities between April 2017 and March 2019.
• Phase 3: It covers the remaining cities between April 2019 and March 2022.

The list of beneficiaries under Pradhan Mantri Awas Yojana is as follows:

Economically Weaker Section (EWS): Rs. 3 Lakh Families with annual income up to

Low Income Group (LIG): 3 Lakh to 6 Lakh. Families with annual income between

Middle Income Group I (MIG I): Rs 6 lakh to Rs 12 lakh. Families with annual income between

Middle Income Group II (MIG II): Rs 12 to 18 lakhs. Families with annual income between

Women under EWS and LIG income groups

Scheduled Castes (SC), Scheduled Tribes (ST), and Other Backward Classes (OBC)