Under the leadership of Prime Minister Narendra Modi, the Central Government launched the Pradhan Mantri Awas Yojana-Urban (PMAY) with the aim of providing affordable housing to economically weaker (EWS) and middle class families in urban areas. Now the second phase of this scheme (PMAY 2.0) has started, whose aim is to provide houses to one crore families in the next five years.

Government will spend this much

Under PMAY 2.0, the Central Government has allocated a budget of Rs 2.30 lakh crore. In the first phase of the scheme, 1.18 crore houses were sanctioned, out of which 85.5 lakh houses have been handed over to the beneficiaries. In this phase, eligible beneficiaries will be helped to build, buy and rent affordable houses under four categories.

Benefits will be available under these four categories

1. Beneficiary Based Construction (BLC):

• Under this, the government will provide financial assistance of Rs 2.25 lakh for building a house up to 45 square meters on one's own land.
• The annual income of the person should be up to Rs 3 lakh.
• Additional financial assistance from the state government will be announced later.

2. Affordable Housing in Partnership (AHP):

• Houses will be built for EWS and LIG (Lower Income Group) categories under private or government projects.
• The central government will provide assistance of Rs 2.25 lakh and the state government will provide assistance of Rs 50 thousand.

3. Affordable Rental Housing (ARH):

• Rental houses will be constructed for people unable to build or buy a house.
• The Central Government will provide technical grant (TIG) of Rs 3000 per square meter per unit and Rs 2000 per square meter.

4. Interest Subsidy Scheme (ISS):

• Those taking home loan up to Rs 25 lakh on houses worth up to Rs 35 lakh will get interest subsidy of up to Rs 1.80 lakh.
  People of EWS, LIG ​​and MIG (middle income group) will get the benefit of this scheme.
• Apply like this

To apply under the scheme, visit www.pmay-urban.gov.in website. Click on PMAY-U 2.0 and upload your income, address and other documents. Submit the form after authenticating the Aadhaar number. The status of the application can be tracked on the portal.

The second phase of Pradhan Mantri Awas Yojana is a big step towards realizing the dream of affordable houses for poor and middle class families in urban areas. This will not only provide homes to people, but will also improve the quality of living in urban areas.