PM Housing Scheme

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What exactly is Pradhan Mantri Awas Yojana?
Pradhan Mantri Awas Yojana was published with the aim to render housing at reasonable prices for the weaker sections of the society, less earning group people, suburban poor, and rural poor. The Yojana involves Preparation close to 20 Million houses at a reasonable price by March 31st 2022. The Program is getting financial assistance of USD 31 billion from the Central Government.
This Housing Scheme provides two components:
Pradhan Mantri Awas Yojana Urban (PMAY-U)
Pradhan Mantri Awas Yojana Gramin (PMAY-G)

Primary ingredients of Pradhan Mantri Awas Yojana
In-Situ Redevelopment of slums using land as a resource, with all the participation within the non-public sector. This Program targets leveraging the chance of land under slum areas and providing formal urban establishments to slum dwellers.
Credit Linked Subsidy - Under this scheme, the government will offer 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 does not 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 with the Private and public sector, affordable housing will likely be provided for the economically weaker sections. The States or Union Territories, either with many other agencies as well as in partnership with various industries can plan affordable housing projects.

Enhancement and construction of beneficiary led house - Within this part, the beneficiaries who are not able to avail the key benefits of the above three components will be benefited. This mission provides help families of EWS category to make new houses or enhance the existing houses on their own to cover the beneficiaries. Under this mission, families will have a 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 presented to old and disabled while allotting ground floors.Very good news for Beneficiaries : Now, the Government is Providing the Facility to Check Name in Pradhan Mantri Awas Yojana List