The Pradhan Mantri Awas Yojna (translating to ‘Housing for All’ scheme in English) was launched back in 2015 by Pardahn Mantri Sh. Narendra Modi Ji with the aim of providing affordable housing to the whole of the Indian population. The primary objective of the scheme is to create over two crore different houses across the entire nation to house several middle and lower class people who cannot afford to buy a new house. Meaning, that this scheme was inaugurated with the aim to tackle homelessness in the lower class population of India. The scheme is planned to run from a period of 2015 -2022, that is, seven years.
Making a home in India is too costly. You keep earning and earning for the whole life but you may not be able to live in your own home if you are not earning a handsome amount every month. Pradhan Mantri Sh. Narendar Modi’s Pradhan Mantri Awas Yojana has been launched after understanding this fact. The government of India had understood that a Majdoor, a Fishermen, a Rickshaw Driver, and many other such people who earn about 10000 to 15000 rs a month may not be able to build their own homes even in many years. So, to help such people Pradhan Mantri Awaas Yojna has been launched.
Pradhan Mantri Awaas Yojana – Housing for All – An Indian Government Scheme to Offer Homes at Very Low and Affordable Cost
The entire scheme is divided into three different phases, out of which the phase one is supposed to end this month, that is, March 2017. 100 different cities around the country have been targeted for the creation of homes for people belonging to the ‘Low-income group’ (LIG) and the ‘Economically weaker sections’ (EWS).
The Phase two of the scheme is set to be complete by the end of April 2019, where a 100 more cities will be the target for developing new houses for the population, and the third Phase shall be completed by March 2022, where all the remaining cities will get new homes.
The salient features of the Pardhan Mantri Awaas Yojna – Housing for all scheme include,
A considerable change in the EMI for people applying for the house loans,
A subsidy provided by credit and not mortgaging,
And replacement of the existing slum areas using the lands as a resource enabling private organisation participation
The people around the country can apply for the Pradhan Mantri Awas Yojana by filling an online application which is available on the Indian government website, pmaymis.gov.in. The simple scheme will allow millions of people residing in slum areas to buy/build a home of their own at subsidised rates. The dream of living in your own home can be made true by this scheme.
How to Apply Online for Pradhan Mantri Awas Yojna – Fill PM Awaas Yojna Form Online
Who can apply for Pradhan Mantri Awas Yojna Scheme (PMAY)