The Pradhan Mantri Awas Yojana (PMAY) is one of the most talked-about housing schemes launched in 2015.
Prime Minister Narmada Modi launched this home scheme. It was done to provide affordable housing solutions to the poor population of India.
Its intention was to offer ‘Housing for all by 2022’.
Under this, low-cost houses are being built across urban and rural India. It is being done using eco-friendly and sustainable technologies.
If you want to know about the basics of the PMAY, here is a quick post!
What are the features of the PM Awas Yojana?
Besides building homes across India to provide shelter to marginalized sections of the society, PMAY also offers an interest subsidy on home loans.
Anyone or a beneficiary family without a pucca home anywhere in India is entitled to apply for the PMAY. A beneficiary family includes a husband, wife, unmarried sons and daughters.
If you earn an income between Rs.3 lakh and Rs.18 lakh per year, you may enjoy a home loan interest subsidy. The maximum home loan interest subsidy is up to 6.5% or up to Rs.2.67 lakh.
If you have not availed of housing plan assistance earlier from either the Central or the State Government, you can apply for the Pradhan Mantri Awas Yojana.
Many top banks and other lenders in India are participating in the PMAY to provide you with affordable home loans. You can approach a lender and get all details about applying for it. Generally, such details are mentioned on their websites.
With the launching of the PMAY scheme, finding shelter for people who don’t have a home in India has become possible.
