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Pradhan Mantri Awas Yojana – Housing for All (URBAN)

  • It envisions Housing for All by 2022 and it subsumed Rajiv Awas Yojana and Rajiv Rinn Yojana
  • It covers all 4041 statutory towns as per Census 2011 with focus on 500 Class I cities in three phases
  • Centre and State will be funding in the ratio of 75:25 and in case of North Eastern and special category States in the ratio of 90:10
  • Beneficiaries – Urban poor who does not own a pucca house, Economically Weaker Section (EWS) and Lower Income Groups (LIG – eligible only for credit linked subsidy scheme)
  • HUDCO and NHB have been identified as Central Nodal Agencies (CNAs) to channelize this subsidy to the lending institutions
  • Credit Linked Subsidy – It is an interest subsidy available to a loan amount upto Rs 6 lakhs at the rate of 6.5 % for tenure of 20 years or during tenure of loan whichever is lower
  • The houses will be allocated preferably in the name of Women in the family