Among these initiatives in the Pradhan Mantri Awas Yojana. A government of India initiative the PMAY was introduced in 2015 by prime Minister Narendra Modi. The scheme has been welcomed by leading developers like Vinod Goenka DB Realty and aims to provide affordable housing to the urban poor and give shelter to all by 2022.

1. PMAY: Owning a House is easy

2. Everyone wants to own a home. One’s own home provides security and
contentment. Many people also purchase a home for investment purposes
as renting the home will provide a stable income. You can also use your
home as a guarantee to get various loans. However, homes are not cheap
and due to lack of finances many people are unable to fulfil their dream of
owning a house.
However, the government has launched several schemes which have enabled
people to realise their dreams. Among these initiatives in the Pradhan
Mantri Awas Yojana. A government of India initiative the PMAY was
introduced in 2015 by prime Minister Narendra Modi. The scheme has been
welcomed by leading developers like Vinod Goenka DB Realty and aims to
provide affordable housing to the urban poor and give shelter to all by 2022.

3. Features of PMAY scheme
Some of the features of PMAY include:
The scheme is women friendly as the women applicants will be given
preference. The government has given importance to the environment
as every home constructed under the scheme will be eco-friendly. An
interest subsidy of 6.5 percent will be provided on the loans availed by
the homebuyer for 15 years from the beginning of the tenure of their
loan.
•

4. Beneficiaries
• The beneficiaries need to include the husband, wife, and unmarried
sons/daughters. They should not have a pucca house in their name or
that of any member of the family. The beneficiaries who have
received central assistance under a housing scheme are not eligible.
The beneficiaries can apply for a loan directly. They can also get the
loan through an NGO, urban Local Body etc.

5. Eligibility
• People who are eligible to avail the scheme include the Economically
Weaker Section, Low Income Group, Middle Income Group - 1 (MIG-
1), Middle Income Group - II (MIG - II), Scheduled Caste, Scheduled
Tribe and Other Backward Class and women belonging to the Low
Income Group and Economically Weaker Section.
•
• Pradhan Mantri Awas Yojana is a highly beneficial scheme which has
been well appreciated by the common people and leading builders
like Vinod Kumar Goenka. The scheme has enabled a majority of
people to realise their dream of owning a home.

6. Thanks