The scheme aims to provide financial assistance to one crore urban poor and middle-class families for constructing, purchasing, or renting houses at affordable costs.
PMAY-U refers to Pradhan Mantri Awas Yojana (Urban)
Nodal Agency: Ministry of Housing and Urban Affairs
It is a major initiative by the Union government to provide all-weather pucca houses to eligible beneficiaries in urban areas.
Achievements: 1.18 crore houses have been sanctioned under PMAY-U, with over 85.5 lakh houses already constructed and delivered.
Eligibility Criteria
Target Segments: Families belonging to EWS, LIG, and Middle Income Group segments with no ‘pucca’ house anywhere in the country are eligible.
Coverage Area: The scheme covers all statutory towns as per Census 2011 and subsequently notified towns, including Notified Planning Areas, and regions under various Urban Development Authorities.
Financial Assistance and Investment
Assistance to Urban Poor: Financial assistance will be provided to urban poor through States and Union Territories over the next five years.
Subsidy and Investment: The scheme includes a government subsidy of ₹2.30 lakh crore, contributing to a total investment of ₹10 lakh crore.
Fund Increase: The Credit Risk Guarantee Fund Trust’s corpus has been increased from ₹1,000 crore to ₹3,000 crore.
Objective: By enhancing the Credit Risk Guarantee Fund, the government aims to boost affordable housing initiatives under PMAY-U.
This will likely increase homeownership rates among low-income segments of the population.
Beneficiaries: The fund will benefit the Economically Weaker Section (EWS) and Low Income Group (LIG) segments by providing credit risk guarantees on affordable housing loans.
Fund Management Transfer: Management of the Credit Risk Guarantee Fund will be transferred from the National Housing Bank to the National Credit Guarantee Company.
Comprehensive coverage with a concise format Integration of PYQ within the booklet Designed as per recent trends of Prelims questions हिंदी में भी उपलब्ध
Quick Revise Now ! UDAAN PRELIMS WALLAH
Comprehensive coverage with a concise format Integration of PYQ within the booklet Designed as per recent trends of Prelims questions हिंदी में भी उपलब्ध
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