Pradhan Mantri Awas Yojana – Urban is an initiative by the Government of India which ensures to provide housing for all in urban areas.
This scheme came into effect on 17th June 2015; moreover, it also provides assistance to the implementing agencies through States/Union Territories (UTs) and Central Nodal Agencies (CNAs) to achieve the aim of providing houses to all eligible families/ beneficiaries against the validated demand for houses for about Rs. 1.12 crores.
As per PMAY(U) guidelines, the size of a house for the Economically Weaker Section (EWS) can range up to 30 square meters of carpet area, however, States/UTs have the authority to tweak the size of houses in consultation and upon approval of the Ministry.
Following the trail of the government’s constant efforts towards the empowerment of women from EWS and LIG, unlike earlier schemes, PMAY-U has made a mandatory provision for the female head of the family to be entitled as the owner or co-owner of the house.
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The mission focuses to address the housing urban poor including slum dwellers’ requirements through the following initiatives:
Let’s check out the eligibility of PMAY-U, who is eligible for the MIG category within a family, who all can apply, how much is the subsidy provided in rupee terms and how is the subsidy impacting the loan amount-
This means that anyone who is earning between Rs 6 lakh up to Rs 18 lakh per annum can avail of the subsidized loan benefits given that all the other conditions are met.
Let’s understand this in a better way with the help of a table explaining the details of both MIG 1 and II
|MIG I – PMAY Urban
|MIG II – PMAY Urban
|Household annual income
|Loan amount for interest subsidy
|Dwelling unit carpet area
|160 square meter
|200 square meter
|Max loan tenure (in years)
|Rs. 2.35 lakhs
|Rs. 2.30 lakhs
Note: 1 sq mt = 10.7639 sq ft
The scheme is designed for providing a house for all. So, this implies that those who already own a home or any of their family members own a home cannot avail of the benefits of PMAY.
Individuals in the MIG – I category will be eligible for a 4% interest subsidy on a loan amount up to Rs 9 lakh, and in the case of the MIG – II slab, individuals will get a 3% subsidy on a loan amount up to Rs 12 lakhs.
In case an additional loan is needed, the lender will provide it but the additional loans beyond the subsidized loan amount will be provided at a non-subsidized rate.
Beneficiary: A beneficiary family consists of a husband, wife, and unmarried children. The beneficiary family should not have a pucca house in their name (an all-weather dwelling unit) in any part of India.
Central Nodal Agencies: Nodal Agencies are identified by the Ministry for the purposes of implementation of the Credit linked subsidy component of the scheme.
Implementing Agencies: These are the agencies such as Urban Local Bodies, Development Authorities, Housing Boards, etc. that are selected by the State Government/SLSMC for implementing PMAY HFA Urban mission.
Economically Weaker Section(EWS): EWS households are households having a yearly income up to Rs. 3 lakhs. States/UTs shall have the flexibility to change the annual income criteria as per the local conditions in consultation with the Centre.
EWS House: EWS house can be defined as an all-weather single unit or a unit in a multi-storeyed superstructure having a carpet area of up to 30 sq. m. with adequate basic civic services and amenities like proper toilet, water facility, electricity supply, etc. States can evaluate the area of EWS as per their local needs with information to the Ministry.
As per the data of the Ministry of Housing and Urban Affairs, the pace of progress of PMAY-U in all states and union territories, as of 1st July 2019 are as follows: