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Poverty has been one of the major issues in India ever since independence. It has led to a large chunk of the population living without shelter across the nation.
To overcome such a situation and help the economically weaker section of the society with an own home, the PM Awas Yojana was launched.
The Pradhan Mantri Awas Yojana (PMAY) came into being in 2015. And it was a dream project of PM Narendra Modi.
If you want to know about the basics of the PMAY, here is an article!
PMAY scheme features and benefits
- The PMAY scheme works on building affordable homes across urban and rural regions of India. It is done with sustainable and eco-friendly technologies.
- Women and differently-abled citizens are given preference in the allotment of the homes built and on their ground floors.
- Anyone or a beneficiary family not having any pucca home anywhere in India is eligible to apply for the PM Awas Yojana. A husband, wife, unmarried sons and unmarried daughters comprise of beneficiary family.
- Besides constructing homes, the PMAY plan also offers an interest subsidy on home loans as per your income groups.
- If you are earning an amount between Rs.3 lakh and Rs.18 lakh, you can avail of a loan between Rs.6 lakh and Rs.12 lakh. The interest subsidy on housing loans varies between 2.3% to 2.65% ranging from Rs.2.3 lakh and Rs.2.67 lakh. If it is your first-ever pucca home for which you want to apply under PMAY, you can pocket repayment savings.
PMAY scheme is surely a great initiative to help poor sections of the society fulfil the wish of living in a home.
