PMAYShelter, Clothing and Food are the three basic human needs. The prime necessity is shelter, as it is one of the important aspects of survival and we call it a home. It is a secure space for an individual’s where they spend a good time with their family and prepare for everyday’s life struggles.
Although urbanization is gradually taking shape and population is growing, but it shouldn’t deter our government from thinking about the weaker part of the society. Everyone needs a house for an improved civilization and meet the basic living standard. Hence, our government has taken a significant step with the launch of Pradhan Mantri Awas Yojna, ‘Housing for all Scheme’. It is specifically planned for the ones that cannot afford their own house for financial restraints. The PMAY is a Housing Solution for all the Indian citizens.

Know More about PMAY:
The Pradhan Mantri Awas Yojna or PMAY is a mission started by the NDA Government with a goal of ‘Housing for All” (HFA) scheme, to be achieved by the year 2022. In that year, India will be completing 75 years of Independence. It started in the year 2015, with the mission and would be accomplished by 7years – from 2015-2022.

Our Honorable Prime Minister, Mr. Narendra Modi envisioned the Housing for All (HFA) scheme. In the joint session of the parliament on 9th June 2014, our PM conveyed that by the time our Nation completes 75 years of its independence, PMAY would offer a ‘Pucca House’ for every family complete with 24*7 electricity supply, toilet facilities, water connection and complete access in urban cities.

Objective of PMAY – Housing for One and All
An extensive mission of PMAY Housing Scheme aims to produce:
• As proposed under the mission, 2 million non-slum households of the urban poor are to be covered.
• By the year 2022, the Economically Weaker Section (EWS) and Lower Income Groups (LIG) of our society would be targeted.
• Across the nation’s, length and breadth, 2 crore houses are to be built.
• Complete access, 24*7 electricity, toilet facilities and water access with affordable homes.

The Beneficiary or Targeted Groups for PMAY:
• Scheduled Castes
• Scheduled Tribes
• The economically weaker section and people with low incomes in the society
• Women of India from all castes and religions. Everyone eligible would be treated equally without any bias based on religion or caste.

The Work of PMAY:
The Pradhan Mantri Awas Yojna Housing Scheme would work by offering principal assistance to Urban Local Bodies (ULBs) and other agencies employed via UTs/States for:
• Granting Subsidy for individual house enhancement/construction to the Targeted Groups.
• Establishing Cost-Effective Housing in Partnership.
• By providing Credit Linked Subsidy.
• For the existing slum-inhabitants – building on-site Rehabilitation by beginning private participation utilizing poor land area as a resource.

1Lakh – 2.30Lakh – Subsidy:
The home buyers are to be offered a linked subsidy of 1Lakh to 2.30Lakh with the scheme.
• As a Central Sector Scheme Subsidiary is being implemented, while other factors as Centrally Sponsored Scheme (CSS).
• On housing loans, the current market rate of interest is 10.5%. However, under this scheme, a subsidy of 6.5% rate of interest would be offered to the targeted groups, which is 4% lower than the market rate. It would last for a time of 15years from the starting date.
• The EWS and LIG segments would be granted a credit linked subsidy of the urban population.
• The central government treasury would generate the subsidy.

PMAY’s Technology Sub-Mission:
Entire construction is to adopt latest technologies for building new apartments or units under Pradhan Mantri Awas Yojna (PMAY). Under the Ministry of Building Materials and Technology Promotion Council (BMPTC), the government would create a technical cell to support the Technology Sub-Mission.
• Disaster resistant technologies and earthquakes. To ensure air ventilation and proper sunlight, basic concepts of designs would be adopted.
• Concepts of green buildings utilizing organic resources.
• Taking up innovative and modern eco-friendly technologies.
• Prepared building plans and well-researched layout designs for various geo-climatic zones.

PMAY’s – Three Phases:
1st Phase: Starting from April 2015 – March 2017 – During this phase, the development of overall 100 cities would be completed.
2nd Phase: Beginning from April 2017 – March 2019, after the completion of Phase 1, the development of 200 more cities would be covered for development.
3rd Phase: Initiating from April 2019 – March 2022, the housing development process for all remaining Indian cities would complete its PMAY.

PMAY’s Primary Features:
• 4% less rate of interest value on loans from the market – for the availed houses the targeted groups or beneficiaries will receive 6.5% interest rate.
• Affordability – Subsidy range would be granted anywhere from INR 1Lakh and INR 2.30Lakh to EWS and LIG segments of the urban population.
• Eco-friendly development technologies must be strictly followed by construction developers.
• The senior citizens or physically challenged would get preference for the ground floor of the houses.
• The female applicants would get preference for house allotments.