People want to achieve few things in life and having their home is one of such things. Government runs several schemes for different type of things, PM- AWAS YOJNA- (URBAN) is one one of them.
To support people’s dream the scheme offers a support to people to have their permanent home. Usually people apply for home loans but there are some people who fails do such things. This scheme is for them.
It supports the weaker section of society, people from lower income group and also the people from middle income group.
This is a centre based scheme, the facilities provided under the scheme is given by the central government.
PM AWAS YOJNA-URBAN 2.0
The PM Awas Yojna Urban 2.0 was launched in September 2024 by PM Narendra Modi. Under this scheme financial support will be provided to poor and middle class families to build or buy a ‘Pucca’ house in the Urban area.
Some new things have been added in the 2.0 version of this scheme. Under this version houses will be made for 1 crore urban poor and middle class families. The amount for the scheme has also been increased. 29 states and Union Territories have signed MoU for implementing PM AWAS YOJNA-URBAN 2.0.
The scheme will be implemented in four verticals and the beneficiaries need to select one of the vertical.
The scheme includes four verticals:
- Beneficiary Led construction(BLC)- Under this financial support will be provided to families with qualified individuals economical weaker section to build the house on their own land.
- Affordable Housing in Partnership (AHP)-Under this the beneficiary gets the financial support for buying house established by the states or UTs or private organizations or public.
- Affordable Rental Housing (ARH)- This vertical is for the development of rental purposes, which aims at serving to housing requiremnt of working people, migrants and others.
- Interest Subsidy Scheme (ISS)- Under this vertical subsidy will be provided on the home loan.
Eligibility Criteria
The scheme is applicable for the families who comes under Economically weaker section, low income group and the middle income group. The EWS households with annual income up to 3 lakhs can go for the scheme. Lower Income Group with annual income between Rupees 3 to 6 lakhs can apply for the scheme. Middle Income Group having annual income between Rs 6 lakh to 9 lakh are eligible for the scheme.
PM Awas Yojna-Urban 1.0
Under the first version of the scheme over 88 lakh houses has been given to the beneficiaries, as per reports. Total 118.64 lakhs houses has been sanctioned under the scheme.
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