PMAY Housing for All Scheme Jaipur, Rajasthan 2019-2022

PMAY - Introduction

“Pradhan Mantri Awas Yojana is not just about merely building houses. This is a significant step in making the dreams of the poor come true.” – Shri Narendra Modi.

This thought by our hon’ble Prime Minister indicates that owning a house will no longer be just a dream, it will become a reality! Thanks to PMAY Housing for All Scheme Jaipur, Rajasthan. But the scheme came into existence much before, in June 2015 when the Prime Minister announced this special home loan subsidy scheme to promote "Housing for All".

The motive of the scheme is to provide affordable housing to both urban and rural poor with an aim of building 20 million houses by March 31, 2022. It is targeted at families buying their first house living in the Low Income Group (LIG) and Economically Weaker Section (EWS) categories.

As of 1^st February 2019, 1.53 crore houses have already been built under the scheme and in the recently concluded Union Budget, the government has proposed further monetary and legal support to strengthen the scheme’s reach thereby making PMAY Housing for all Jaipur builders and developers of Rajasthan possible.

Aim behind PMAY

The main objective of Pradhan Mantri Awas Yojana, Jagatpura, Jaipur is to provide pucca housing to all, affordable by the year 2022. It also involves the inclusion of widows, people belonging to the lower income group, as well as transgenders under the affordable housing scheme. Through PMAY, the Government also aims to implement and track the programme via an end-to-end e-Governance model using apps like Awaas and AwaasSoft. It also plans to make registration compulsory to avail the benefits of the scheme which includes strict beneficiary names of ‘to be mothers or wives.’

PMAY- Eligibility Criteria

The applicant’s age should be between 21 and 55 years. The income of EWS individuals should not exceed Rs. 3, 00,000 p.a. while Rs. 6, 00,000 p.a. is the income limit for the LIG individuals. The individual applying for the scheme needs to verify that he/she belongs to the LIG or EWS group for which he/she requires to submit an affidavit or self-certificate as a proof of income.

PMAY- Beneficiaries

People who will benefit from this scheme are women, those who come from the Economically Weaker Section (EWS) of the society and people who belong to Scheduled Castes (SC) or Scheduled Tribes (ST).

PMAY- Key Features

The house to be purchased or constructed should be either in the name of the female head of the family or under the joint names of the male and female heads of the family. The applicant requires to provide a declaration of not owning a pucca house. In the absence of an income proof, an affidavit needs to be submitted.

Interest subsidy is available for loans taken for the construction of a new house. It is also present for incremental housing which involves the addition of a room, kitchen, toilet etc. to the existing house. The carpet area should be up to 60 sq. meters and 30 sq. meters for LIG and EWS categories respectively though the individual can construct a bigger house.

Benefits of PMAY

The biggest benefit of this scheme is that the dream of “Housing for all" under the Pradhan Mantri Awas Yojana will get realized. Burden of EMIs will get reduced too as the interest subsidy will be credited upfront to the loan account of the beneficiaries. The individuals who belong to the LIG or EWS group are able to avail the loan at a subsidized rate of 6.5%. Moreover, the interest subsidy on home loan will be available for maximum loan tenure of 20 years.

Conclusion

The introduction of Pradhan Mantri Awas Yojana (PMAY) has been recognized as a revolutionary step towards uplifting the economically weaker sections of the society. Apart from the primary aim of providing ‘Housing for All’ by 2022, PMAY also promises to offer affordable houses with basic facilities like water, electricity and sanitation.