Pradhan Mantri Awas Yojana – Urban (PMAY-U), a flagship Mission of Government of India being implemented by Ministry of Housing and Urban Affairs (MoHUA), was launched on 25th June 2015. The Mission addresses urban housing shortage among the EWS/LIG and MIG categories including the slum dwellers by ensuring a pucca house to all eligible urban households by the year 2022, when Nation completes 75 years of its Independence.
PHASES
3 Phases of PMAY envisage starting and completing the house construction work as follows:
PMAY Phase-1 from April 2015 to March 2017 to cover 100 cities.PMAY
Phase-2 from April 2017 to March 2019 to cover additional 200 cities. PMAY Phase-3 from April 2019 to March 2021 to cover the remaining cities.
Phase-3 from April 2019 to March 2021 to cover the remaining cities.
THE SCHEME
Beneficiary Led Construction
Beneficiaries could avail the benefits of scheme component for New construction and Enhancement of existing house. Highlights of ‘Beneficiary Led (Individual House) Construction’ or Enhancement (BLC) Progress to be tracked through geo tagged photographs of the house.
Eligibility For New Construction
Urban residents of EWS : Economically Weaker Section (annual income upto Rs 3 lakh) & LIG: Low Income Group (annual income Rs 3 to 6 lakh).
Beneficiary families should not own a pucca house anywhere in India.
Benefit
To individual eligible families belonging to EWS categories, to either construct a new house or enhance existing house on their own to cover the beneficiaries, who are not able to take advantage of other components of the mission.
Such families may avail of central assistance of Rs. 1.50 lakhs for construction of new house or for enhancement of existing house under the mission.
Affordable Housing in Partnership
Affordable Housing in Partnership which is a supply side intervention. The Mission will provide financial assistance to EWS houses being built with different partnerships by States/UTs/Cities.
Affordable housing projects are the projects where atleast 35% of houses are constructed for EWS category
To increase availability of houses for EWS category at an affordable rate, States/UTs, either through its agencies or in partnership with private sector including industries, can plan affordable housing projects.
Central Assistance at the rate of Rs.1.5 Lakh per EWS house would be available for all EWS houses in such projects.
The States/UTs would decide on an upper ceiling on the sale price of EWS houses in rupees per square meter of carpet area in such projects with an objective to make them affordable and accessible to the intended beneficiaries. For that purpose, States/UTs and cities may extend other concessions such as their State subsidy, land at affordable cost, stamp duty exemption etc.
The sale prices may be fixed either on the project basis or city basis
Credit Linked Subsidy Scheme for EWS/LIG (CLSS for EWS/LIG)
Pradhan Mantri Awas Yojana (Urban) – Housing For All Mission, in order to expand institutional credit flow to the housing needs of urban poor is implementing credit linked subsidy component as a demand side intervention
Beneficiaries of Economically Weaker Section (EWS) and Low Income Group (LIG) seeking housing loans from Banks, Housing Finance Companies and other such institutions would be eligible for an interest subsidy at the rate of 6.5 % for a tenure of 20* years or during tenure of loan whichever is lower.
The credit linked subsidy will be available only for loan amounts upto Rs 6 lakhs and additional loans beyond Rs. 6 lakhs, if any, will be at nonsubsidized rate.
Interest subsidy will be credited upfront to the loan account of beneficiaries through Primary Lending Institutions (PLI), resulting in reduced effective housing loan and Equated Monthly Installment (EMI).
The Net Present Value (NPV) of the interest subsidy will be calculated at a discount rate of 9 %.
IN SITU SLUM RE DEVLOPMENT
“In-situ” slum rehabilitation using land as a resource with private participation for providing houses to eligible slum dwellers is an important component of the “Pradhan Mantri Awas Yojana (Urban) – Housing for All” mission. This approach aims to leverage the locked potential of land under slums to provide houses to the eligible slum dwellers bringing them into the formal urban settlement. Slums so redeveloped should compulsorily be denotified.
Eligibility
Slums, whether on Central Government land/State Government land/ULB land, Private Land, should be taken up for “insitu” redevelopment for providing houses to all eligible slum dwellers.
Eligibility of the slum dwellers like cut-off date etc. will be decided by States/UTs preferably through legislation.
In Margherita Municipal Board PMAY-HFA Urban Mission started from the financial year 2017-18 With the Beneficiary Led Construction schemes under phase –I
No of DPR :
