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Courtesy- www.15august.in
Courtesy- www.15august.in

Pradhan Mantri Awas Yojana: Affordable Housing for All by 2022

Name of the scheme: Pradhan Mantri Awas Yojana

Purpose: The scheme envisages the vision of Housing for All by the year 2022.

Details of the scheme:

The scheme aims to construct more than two crore houses across the length and breadth of the nation within a span of next seven years (that is by the year 2022).  The target beneficiaries of the scheme would be poor and people living under EWS and LIG categories* in urban areas of the country.

*(EWS- Economically Weaker Sections and LIG Low Income Groups)

Phases of the scheme:

Pradhan Mantri Awas Yojana Phase 1:  The Phase 1 of PM Awas Yojana would span from April 2015 to March 2017 and a total of 100 cities would be developed during this time.

Pradhan Mantri Awas Yojana Phase 2:  The Phase 2 of the Yojana would span from April 2017 to March 2019 and during this phase, a total of 200 more cities would be covered and developed.

Pradhan Mantri Awas Yojana Phase 3:  The Phase 3 of PMAY would span from April 2019 to March 2022 and during this phase the left over cities would be covered and developed.

Target Group:

Pradhan Mantri Awas Yojana would target specific groups from the society, which are:

  • Women, irrespective of caste and religion
  • Economically Weaker Section of Society (EWS)
  • Scheduled Tribes (ST)
  • Scheduled Casts (SC)

 Interest subsidy:

The government would provide an interest subsidy of 6.5% on housing loans availed by the beneficiaries for a period of 15 years from the start of loan.


  1. An average of Rs 1 lakh would be granted by the Government of India to all the beneficiaries under the scheme.
  2. Through Credit Linked Subsidy Scheme, a subsidy of 6.5% would be given to each beneficiary belong from EWS and Lower Income Group categories.
  3. A central government assistance of Rs 1.5 lakh would go to every beneficiary for promoting housing stock and thus 35% of the units under the project would be earmarked for the Economically Weaker Section category.
  4. In addition to the above, an Rs 1.5 lakh would be provided to all eligible urban poor who want to construct their own house in urban areas or wish to make necessary renovations in their existing houses.
  5. The government would be granting a subsidy to people from these categories so that they buy a home for themselves and their families.  The subsidy amount may range from Rs 1 lakh to Rs 2.30 lakh.

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