The Indian Government has initiated the second stage of the Pradhan Mantri Awas Yojana-Urban 2.0. Under this is they will provide financial aid to the 1 crore urban poor, EWS and middle class families.
The PM-AWAS Yojana 2.0 was approved by the Union Cabinet on August 9, 2024. The financial support of Rs 2.50 lakh will be given for the one lakh houses that will be made munder this 2.0 version of this scheme. Under this 2.0 version of the PM Awas Yojana- Urban, beneficiaries will be provided with the durable housing solution.
People who have taken the home loan for buying, making, or acquiring a resale property after September 1, 2024, are entitled to get 4% subsidy on their loan. This will remain active for the next five years.
The scheme follows the four different components:
- Beneficiary-Led Construction
- Affordable Housing in Partnership
- Credit-Linked Subsidy Scheme
- Affordable Rental Housing Complexes.
Eligibility Criteria
People who are from the Economically Weaker Sections, Lower Income group and the middle income groups. It is important for the people to give proof of their income. EWS people are the one who have annual income up to 3 lakh, LIG people are the one with annual income up to 6 lakh and MIG are the one with annual income up to 9 lakh.
Documents Required
Following documents are required for this process:
- Aadhaar Card
- Aadhaar Card of Family members
- Bank Account Details (Linked With Aadhaar Card)
- Salary Proof
- Proof of Cast or Community
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