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PMAY(U): Pradhan Mantri Awas Yojana – Urban 2022

Personal Finance

Are you searching for affordable and accessible housing schemes for rural regions of India? So you are in the correct spot. The Government of India’s Pradhan Mantri Awas Yojana (PMAY) programme aims to give poor urban access to affordable housing by 2022. Under the PMAY programme, the cost of building new homes is split between the state governments and the government of India in the following ways — 60:40 for plain areas and 90:10 for hilly and northeastern areas.

Check information listed below for more details.

Pradhan Mantri Awas Yojana-Urban (PMAY), which is being run by the Ministry of Housing and Urban Affairs (MoHUA), started on June 25, 2015. It is one of the most important projects of the Indian government. The goal of the mission is to make sure that all eligible urban households will have a pucca house by 2022.

The Indira Awas Yojana was renamed to the Pradhan Mantri Awas Yojana-G (PMAY-G) in 2016, replacing the earlier name. The program’s goal is to provide eligible beneficiaries in India’s rural areas with housing that is both affordable and accessible. For a term of up to 20 years, the (PMAY) scheme’s interest rate starts at 6.50% per annum. The scheme’s implementation period has been extended till December 2024, following requests from states and Union Territories.

This programme is meant to help low-income people in cities get affordable, environmentally friendly homes. As a credit-linked subsidy scheme (CLSS), it gives PMAY scheme beneficiaries an interest subsidy when they take out a loan to buy or build a new primary residence.

What is the Objective of PM Awas Yojana?

India’s middle class has been hit very hard by the constant rise in the cost of land and buildings. This is especially true for people who live in large cities. The government of India announced the Pradhan Mantri Awas Yojana, or PMAY, to promote and support housing that is both sustainable and affordable.

In India, this credit-linked subsidy scheme (CLSS) with the slogan “Housing for all by 2022” plans to build more than 2 crore homes for people from lower-income groups. Qualified borrowers would be able to get loans with lower interest rates to buy homes, buy land, or build new homes.

The loan interest subsidy is only for people in the Economically Weak Sections (EWS), the Lower Income Group (LIG), or the Middle Income Group (MIG).

What are the Features of the PMAY Scheme?

  • Pradhan Mantri Awas Yojana 2022 aims to accomplish the universal provision of shelter by the year 2024. In addition to its stated goal, the plan has the above benefits for its recipients.
  • The goal of pradhan mantri awas yojana is to provide low-cost housing for those from economically disadvantaged backgrounds. Housing for women and members of minority groups, such as the Scheduled Castes and Scheduled Tribes, is a top priority.
  • The initiative is available to seniors, and the government would give preference to pradhan mantri awas yojana gramin online applications for properties on the ground floor.
  • Participants must enrol in the Pradhan Mantri Awas Yojana before they can receive rewards. In addition, the recipient must be a woman, typically a mother or a wife.
  • Under the PM Awas Yojana, the transgender community, widows, and those from lower economic brackets are given preference.

Pradhan Mantri Awas Yojana Eligibility Criteria

  • The annual household income of a person is used to classify him or her into extremely low-income, low-income, or middle-income brackets. A family can’t get Pradhan Mantri Awas Yojana Gramin (PMAY) online application benefits if their annual income is more than Rs. 18 lakh, which is the upper limit of the MIG group’s income bracket.
  • It’s important for a woman’s name to be on important property papers like the deed. A woman can use the Pradhan Mantri Awas Yojana if she owns her home outright or if she and another person, at least one of whom must be a woman, own the property together. Only if there are no women in the house can this be broken.
  • (PMAY) can only be used to buy a brand new home. To be eligible for the credit-linked scheme mentioned above, a person can’t own any other pucca homes.
  • The recipients of this (PMAY) programme must never have received housing-related funds or benefits from the federal or state governments for it to be effective. The neighbourhood, town, village, or city where the house or piece of property is situated must be included in the 2011 Census.
  • The Pradhan Mantri Awas Yojana, which is a credit-linked subsidy programme, is not open to anyone who has already gotten help from the banks.
  • Any work done on an existing home that is the main reason for getting a loan must be done within 36 months of the first loan payment.


The goal of this article is to look at the Pradhan Mantri Awas Yojana (PMAY) in depth. We hope that after reading this article, you have a much better understanding of the scheme’s goal: that all eligible urban households will have a pucca house that is both affordable and easy to get to.

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