Pradhan Mantri Awas Yojana

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What is Pradhan Mantri Awas Yojana?
Pradhan Mantri Awas Yojana was introduced for the exact purpose to grant housing cheaply to the weaker sections of the society, less earning group people, urban poor, and non-urban poor. The Yojana involves building close to 20 Million houses at a reasonable price by 31st March 2022. The Yojana is receiving financial aid of USD 31 billion from the Central Government.
Pradhan Mantri Awas Yojana offers two aspects:
Pradhan Mantri Awas Yojana Urban (PMAY-U)
Pradhan Mantri Awas Yojana Gramin (PMAY-G)
Primary elements of Pradhan Mantri Awas Yojana
In-Situ Redevelopment of slums using land like a resource, with the participation in the private sector. Pradhan Mantri Housing Scheme is aimed at leveraging the potential for land under slum areas and providing formal urban establishments to slum dwellers.

Credit Linked Subsidy - Under this scheme, the government will furnish an interest subsidy of 6.5% on housing loans for 15 years from the start of the loan, which will make housing affordable. The Net Present Value (NPV) of the interest subsidy is going to be calculated at a discount rate of 9%. The loan amount of Rs 6 lakhs is only applicable for the credit-linked subsidy scheme and any amount beyond Rs 6 lakh won't attract any subsidy. The lending institutions will directly credit the interest subsidy to the beneficiaries’ accounts resulting in reduced Equated Monthly Installment (EMI) and reduced housing amount borrowed.

Affordable Housing in Partnership (AHP) - In partnership using the Public and Private sector, affordable housing might be made available to the EWS Families. The States or Union Territories, either with various agencies or even in partnership with different industries can plan affordable housing projects.

Enhancement and construction of beneficiary led house - Under this component, the beneficiaries who are not able to avail the many benefits of the above three components will be benefited. This mission provides assist to families of EWS category to build new houses or enhance the existing houses on their own to cover the beneficiaries. Under this mission, families will receive central assistance of Rs 1.50 lakh to enhance their existing houses or construct new houses. Under the Pradhan Mantri Awas Yojana, the houses will be created with eco-friendly technology and preference will be provided to old and disabled while allotting ground floors.Great news for Beneficiaries : Now, the Government is Providing the Facility to Find Name in Pradhan Mantri Awas Yojana List