Pradhan Mantri Awas Yojana

Pradhan Mantri Awas Yojana

A house for everyone by year 2022, is what Pradhan Mantri Awas Yojana promises.

The government of India has previously launched this housing scheme, now this has been restructured and launched as Pradhan Mantri Awas Yojana.

The main aim for this scheme is to achieve a yardstick of building two crore houses across the different boundaries of the nation. The total estimated span to complete this project would be seven years, starting from 2015. This scheme basically targets the poor and people living under EWS and LIG categories in urban areas.

The Yojana has been categorized in three phases.

Phase 1- This phase would cover a span from April 2015 to March 2017. PM promises, to develop 100 cities at least, during this phase. This phase targets completion of all work undertaken by March 2017.

Phase 2-Under this mid phase a target for covering 200 cities has been put as a benchmark. This span would start from April 2017 to March 2019.

Phase 3- The final phase span starts from April 2019 to March 2022. During the phase, the remaining cities would be covered to meet the construction and development target.

As beneficiaries of Pradhan Mantri yojana, the focus would be prioritized to weaker groups of the society. The beneficiaries would comprise Women, irrespective of the caste and religion including widows, urban homeless families from Economically Weaker Section of Society (EWS), Scheduled Tribes (ST), and Scheduled Casts (SC).

Under this scheme, the above-mentioned beneficiaries would get an amount ranging from Rs 1 lakh to Rs 2.30 lakh. This will enable to make houses from themselves and their families.

To be eligible under this scheme, one should not have a ‘pucca’ house. The eligible member would get 30 square meter carpet area with basic infrastructure like toilets etc. The minimum size of each component constructed should be as per the standards of National Building Code and relevant to Bureau of Indian Standard codes. The design of the houses would be structured keeping in mind the safety as priority against natural calamities such as floods, cyclones, earthquakes, landslides etc.

The central feature of this scheme would be providing an interest subsidy of 6.5% on housing loans to all the eligible beneficiaries for a period of 15 years. The current rate of housing loan in India is 10.50%. Another chief feature of this scheme is to provide housing for female members of the family. Preference would be given to differently-abled and older people under this Yojana. Eco-friendly technology would be used while construction, in order to safeguard the nature.

Components of this scheme include a grant of 1 Lakh from Government of India with a subsidized rate of interest of 6.5 percent. The Central government would provide assistance of 1.5 lakh for promoting housing stock subject to the condition that 35 percent of the habitation of the proposed are earmarked by the EWS category and an additional assistance of 1.5 lakh would also be provided for the eligible urban poor to construct or to undertake renovation work for their existing houses.

The application form for enrollment is still not available. The government will soon come up with the information for enrolling themselves under this scheme. Any specific documents required for the enrollment has not been confirmed yet. Public are coming up with many questions related to this scheme and anxious to enroll under it. Since this scheme is in the initial phase of its launch, many news and information are still awaited.

The scheme launched on 25th June 2015, is promising enough to bring the change in the current civilization, we are living in. Most of us are deprived of the basic amenity of having a roof over head. House for everyone is definitely a great initiative taken by government of India and would surely build a better Infrastructured India.

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