Salient features of the Pradhan Mantri Awas Yojana Scheme

In June 2015, the Prime Minister of India, Shri Narendra Modi launched a scheme with the aim of providing affordable housing to the people of economically weaker sections of the society, residing in urban and rural areas of India. The aim of this scheme is to provide housing to such individuals by the year 2022. This scheme has garnered widespread attention throughout the country. We are talking about the Pradhan Mantri Awas Yojana Scheme, also referred to as the ‘Housing for All 2022 Scheme’. Let’s take a look at some of the salient features of this scheme.

Designed for all sections of the society

The PMAY scheme has been designed in a way that it includes all sections of the society. According to the plan devised by the government, the scheme is split into 2 parts namely:

  • PMAY Urban
  • PMAY Rural

Both sections have their own varieties of features and benefits which are designed by considering the target audience. While the PMAY Urban is specifically focussed towards people residing in the urban cities of India, the PMAY rural is directed towards people residing in the country’s rural areas.

It takes slum residents into account

The PMAY Pradhan Mantri Awas Yojana housing for all scheme offers ‘in-situ’ slum rehabilitation; extending the benefits of the scheme to citizens living in slum areas. Such citizens can select the ‘in-situ’ slum rehabilitation component to get a grant worth ₹1 lakh from the Indian Government. The money procured through the grant can be utilized for constructing an all-weather house.

The construction is beneficiary led

The scheme also offers a component known as the beneficiary led construction through which assistance is provided to the families of people belonging to the economically weaker sections (EWS) of society, looking to construct a new house altogether or to renovate their existing homes. However, to take advantage of this component of the scheme, beneficiaries must own land. Such individuals are provided with financial assistance worth ₹1.5 lakhs in order to construct a house on their piece of land, or to renovate/enhance it.

Affordable housing is offered in partnership

This is another component of PMAY. The affordable housing in partnership module also offers financial assistance worth ₹1.5 lakhs to construct a new house to individuals who do not own a house or a piece of land and can also not afford to build a new house by taking out a home loan. The state and union territories will step in as partners to provide financial assistance to build houses for such individuals.

Credit Linked Subsidy Schemes

Apart from the above mentioned beneficiaries, the PMAY scheme also includes citizens who can afford constructing, purchasing or renovating their homes by taking out a home loan. Through the scheme, the centre provides a subsidy on the home loan’s interest component if individuals can meet the eligibility criteria. Such individuals can avail a maximum subsidy of ₹2.67 lakhs by applying to all major banks in the country.


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