Pradhan Mantri Awas Yojana – “Housing for All by 2022” aimed for urban areas was launched on 17th June, 2015 by Prime Minister Narender Modi.
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:
Credit linked subsidy component is being implemented as a Central Sector Scheme while other three components as Centrally Sponsored Scheme (CSS).
All statutory towns as per Census 2011 and towns notified subsequently would be eligible for coverage under the Mission.
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:
Benefits to these categories are as under:
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.
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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