Follow on Google News News By Tag Industry News News By Location Country(s) Industry News
Follow on Google News | All You Need to Know About Pradhan Mantri Awas YojanaBy: Ritu Housing Since the beginning of the 21st century, India has seen a massive shift in terms of urban migration. World's largest democracy is also the fifth largest economy and the demands of this growth are unprecedented. In order to meet this demand of the growing urban population and migration, the Indian government under the leadership of Honourable Prime Minister Shri Narendra Modi launched the Pradhan Mantri Awas Yojana (PMAY) in the year 2015 which has four major verticals namely, 1. Slum Rehabilitation 2. Credit Linked Subsidy Scheme 3. Affordable housing in partnership with private & public sectors 4. Subsidy for beneficiary- What is PMAY? Pradhan Mantri Awas Yojana (http://www.rituhousing.com/ What is Pradhan Mantri Awas Yojana (Urban) (PMAY-U)? This subdivision aims to cater to the urban population and has two further divisions under its belt. The urban dwellers have been divided into two-income groups of The Middle Income Group (MIG) will comprise of households having an annual income between Rs.6,00,001 up to Rs.12,00,000 and the Middle Income Group (MIG) - II will comprise of households having an annual income between Rs.12, 00,001 up to Rs.18, 00,000. What is Pradhan Mantri Awas Yojana (Gramin) (PMAY-G and also PMAY-R)? Beneficiaries of PMAY - G are eligible for a 3% concession on interest rates on housing loans of up to Rs.2 lakh. This loan can be availed for upgrading your existing home or for constructing a new home in rural areas. The eligibility Criteria? Since the scheme focuses to provide housing for all, everyone who falls under the income slab and doesn't own a home is eligible for this benefit. The rule says, "The beneficiary family should not own a pucca house and the beneficiary family should not have availed of central assistance under any housing scheme from Government of India." A beneficiary family will comprise of husband, wife, unmarried sons and/or unmarried daughters. End
Account Email Address Account Phone Number Disclaimer Report Abuse
|
|