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PMAY Housing Scheme

How This Scheme Will Work

This particular residential scheme will operate by offering main assistance to the urban local structures and various other employing agencies through the state. This will be done for:

  • Constructing onsite restoration of the present slum-occupants by doing participation for the usage of the land area as a resource.
  • By offering subsidy linked to credit
  • The initiation of reasonable housing in collaboration.
  • Providing subsidy to those targeted groups for personal house development.

Subsidy Up to 2.30 Lakh

This residential scheme will offer a subsidy linked to credit up to an amount of 2.30 lakh to the house purchasers.

  • This particular subsidy is aimed to be brought from the central government treasury.
  • The subsidy linked to credit is granted to the EWS as well as the LIG sections of the urban population.
  • The present interest rate in the market on housing loans is about 10.5%. However, under this particular residential scheme, the 6.5 % interest rate subsidy is provided to the beneficiaries. This means they are getting at a good rate below the present available rate and can last for a time of about 15 years from the mentioned date.
  • The subsidiary is implemented like a main sector scheme and the other parts of a centrally sponsored scheme.

The Technology Submission of This Housing Scheme

Every construction under this scheme will follow the modern technologies for the construction of apartments or new units. The Government will help in setting up technical cells from the construction materials as well as technology promotion council under the government for supporting this particular technology submission.

  • Fully researched layout plans, as well as prepared construction, plans suitable for numerous geo-climatic areas.
  • Taking up the latest and the modern eco-friendly methods.
  • Green construction concepts by using various natural resources.
  • Earthquake as well as various other disaster resistant technologies. Simple concept designs must be used for ensuring adequate air ventilation as well sunlight.