Pradhan Mantri Awas Yojana (PMAY)

Saransh27 Jun, 2020Real Estate

Pradhan Mantri Awas Yojana is an initiative by Government of India in which affordable housing will be provided to the urban poor with a target of building 20 million affordable houses by 31 March 2022. The Pradhan Mantri Awas Yojana (PMAY) has been introduced by Prime Minister, Narendra Modi on 1 June 2015. In Mission mode envisions provision of Housing for All by 2022, when the Nation completes 75 years of its Independence. The Mission seeks to address the housing requirement of urban poor including slum dwellers through following program verticals: Slum rehabilitation of Slum Dwellers with participation of private developers using land as a resource Promotion of Affordable Housing for weaker section through credit linked subsidy Affordable Housing in Partnership with Public & Private sectors Subsidy for beneficiary-led individual house construction /enhancement.