PM Awas Yojana Urban: If you are dreaming of building a small but permanent home in the city, but budget constraints are holding you back, the Pradhan Mantri Awas Yojana-Urban (PMAY-Urban) can be a great support. This central government scheme helps families living in cities who wish to purchase or build a home according to their income. Launched in 2015, the scheme is now being implemented in an even stronger form with PMAY-U 2.0, which aims to provide homes to 10 million urban families over the next five years.

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What is PM Awas Yojana Urban?

PMAY-Urban is the central government’s flagship housing scheme, aimed at providing permanent homes to economically weaker sections, low-income groups, and middle-class people in urban areas. Under this scheme, eligible families are provided financial assistance for building, purchasing, or improving their homes, and interest subsidies are also provided on home loans. PMAY-U 2.0 was clearly expanded in Budget 2024 and pursued with greater goals.

Key Objectives of the Scheme

This scheme is designed for those who live on rent in cities but cannot afford to purchase their own homes. The government aims to ensure that every urban household has access to safe and permanent housing, especially those with limited income and difficulty obtaining bank loans.

Key Features of the Scheme

Under PMAY-Urban, eligible families receive assistance in building or purchasing a home. Those building a home on their own land receive assistance of up to ₹2.5 lakh, of which ₹1.5 lakh is provided by the central government. Funds are released in phases for housing construction, ensuring transparency and proper utilization. The government and builders jointly develop affordable homes for landless families. Rent-based housing for urban migrants and workers living on rent is also part of the scheme.

Home loan borrowers can avail of an interest subsidy of up to ₹2.67 lakh, significantly reducing the cost of the loan.

Four Key Components of the Scheme

PMAY-Urban comprises four key components. Under the beneficiary-led construction model, beneficiaries can build a home on their own land. Under the Affordable Housing Partnership, builders and the government jointly provide affordable housing. There is an Affordable Rental Housing Scheme for renters. Additionally, interest subsidies are provided on home loans, reducing the EMI burden.

Who Can Benefit from PMAY-Urban?

This scheme is available only to families who do not own a permanent home in the city and who have not previously benefited from any government housing scheme. Eligibility is determined by economic category. Those with an annual income up to ₹3 lakh fall into the EWS category, those with an income up to ₹6 lakh fall into the LIG category, and those with an income up to ₹9 lakh fall into the HIG category.

Who is Prioritized?

The scheme prioritizes widows, single women heads of households, persons with disabilities, senior citizens, transgender individuals, and families living in slums, including the underprivileged. Street vendors, Vishwakarma Yojana beneficiaries, and those living in slums are also in special focus.

Application Process

The application is made online. Visit the PMAY-U portal and select the “Apply for PMAY-U 2.0” option. Upload your personal information, Aadhaar number, family details, residence information, and income certificate. After eligibility verification, the application is submitted. Selecting the home loan option requires completing the loan process with the relevant bank.

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Required Documents

Applicants must submit Aadhaar cards, bank statements, income certificates, and, if building on their own land, land documents.