Pradhan Mantri Awas Yojana-Housing for All (Urban)

Pradhan Mantri Awas Yojana – “Housing for All by 2022” aimed for urban areas was launched on 17th June, 2015 by Prime Minister Narender Modi.
Pradhan Mantri Awas Yojana - Urban

Objective of Pradhan Mantri Awas Yojana

To achieve Housing for All by 2022 when the Nation completes 75 years of its Independence. The mission seeks to address the housing requirement of urban poor including slum dwellers.

The Mission will be implemented during 2015-2022 and will provide central assistance to Urban Local Bodies (ULBs) and other implementing agencies through States/UTs for:

  • In-situ Rehabilitation of existing slum dwellers using land as a resource through private participation
  • Credit Linked Subsidy
  • Affordable Housing in Partnership
  • Subsidy for Beneficiary-led individual house construction/enhancement.

Credit linked subsidy component is being implemented as a Central Sector Scheme while other three components as Centrally Sponsored Scheme (CSS).

Who is eligible?

All statutory towns as per Census 2011 and towns notified subsequently would be eligible for coverage under the Mission.

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Credit Linked Subsidy Scheme (CLSS)

In order to expand institutional credit flow to the housing needs of urban poor, the Credit Linked Subsidy Scheme acts as demand driven intervention. The scheme bifurcate beneficiaries into two categories:

  • Economically Weaker Section (EWS) and Lower Income Group (LIG)
  • Middle Income Group (MIG)

Benefits to these categories are as under:

  1. CLSS for EWS/LIG
    • Interest Subsidy: 6.5%
    • Loan tenure: 20 years or lower
    • Loan amount: Upto Rs 6 lakhs (additional loan beyond 6 lakhs will be at non-subsidized rate)
    • Carpet Area: 30 Sq mts for EWS and 60 sq mts for LIG
  2. CLSS for MIG

The newly launched CLSS for MIG covers two income segments in the MIG viz. Rs.6,00,001 to Rs.12,00,000 (MIG-I) and Rs.12,00,001 to Rs.18,00,000 (MIG-II) per annum.

Item MIG-I MIG-II
Income Rs.6,00,001 to Rs.12,00,000 Rs.12,00,001 to Rs.18,00,000
Interest Subsidy 4% 3%
Loan Amount Rs 9 lakhs Rs 12 lakhs
Loan tenure 20 years or lower 20 years or lower
Carpet Area 120 sq mts 150 sq mts

Nodal Agency

Housing and Urban Development Corporation (HUDCO) and National Housing Bank (NHB) have been identified as Central Nodal Agencies (CNAs) to channelize this subsidy to the lending institutions and for monitoring the progress.

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