The Pradhan Mantri Awas Yojana (PMAY) has delivered a series of advantages for first-time homebuyers. A subsidy on your home loan interest is one of the top benefits that PMAY extends to you. Claiming the PMAY subsidy on your home loan is a simple foundation of your eligibility, in case you apply for the Pradhan Mantri Awas Yojana as per your income and purchase a home that fulfils the carpet area norms set out through the scheme.<\/p>\r\n
The Union Cabinet has approved Pradhan Mantri Awas Yojana- Urban (PMAY-U) 2.0 to offer financial assistance to 1 crore economically weaker and middle-class families.\u00a0project aims to provide assistance to build, buy, or rent affordable houses in urban locations over the next 5 years. The Government of India has implemented this project as a major step to provide all-weather pucca houses to middle-class families at an affordable price. The PMAY-U scheme has already helped citizens with 1.18 crore houses and has delivered over 85.5 lakh homes to beneficiaries across urban India.<\/p>\r\n\r\n
The primary beneficiaries of PMAY are weaker sections and middle-class families who still need to own a pucca house. Although, special attention will be given to widows, minorities, SC\/STs, construction workers, slum dwellers, Anganwadi workers, etc.<\/p>\r\n
Some eligibility criteria to avail the benefit of PMAY- U 2.0 are as follows-<\/p>\r\n
1. You should not have any pucca house anywhere in the country.
2. For EWS (Economically Weaker Section) families, annual income should not be more than \u20b93 lakhs.
3. For LIG (Low-Income Group) families, annual income should be in the range of \u20b93 lakhs to \u20b96 lakhs.
4. For MIG (Middle Income Group) families, annual income should be in the range of \u20b96 lakhs to \u20b99 lakhs.
5. You must not have previously received any financial aid through a government housing initiative.
Already built houses do not come under the scheme.<\/p>\r\n
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Here are the verticals under which PMAY 2.0 will work to provide benefits to citizens-<\/p>\r\n
Read this in Gujarati.<\/a><\/p>\r\n Also Read-<\/strong><\/p>\r\n Cost Effective Ways of Home Construction<\/a><\/strong><\/p>\r\n