First things first!
The Ministry of Housing and Urban Affairs (MoHUA) has recently sanctioned 5.60 lakh (5,60,695) affordable houses under the Pradhan Mantri Awas Yojana 2019 (Urban).
As per the commitment of the Central Government, it aims to provide affordable housing solutions to the poor population in urban areas under the Pradhan Mantri Awas Yojana Urban Housing Scheme. The scheme is aimed to offer affordable homes to poor urban people who don’t have their own homes.
The Central Sanctioning and Monitoring Committee (CSMS) took this decision in the 43rd CSMS meeting that was held on 25February 2019.
What was the highlight of the 43rd CSMS meeting?
The key point of the 43rd CSMS meeting was that a total of 1,243 projects had been approved across 18 Indian states and Union Territories under BLC/AHP/ISSR verticals.
The total project cost stands at whopping Rs.33,870 crores with Rs.8,404 as the Central assistance. The no. number of pucca houses approved by the Central Government is now over 79.04 lakh under the Pradhan Mantri Awas Yojana Urban Housing Scheme. Also, the total no. of projects approved so far is now 16,506 under PMAY U.
Where will these new houses build?
The Central Government of India will now construct these new houses in 17 states. Such states are Assam, Andhra Pradesh, Bihar, Maharashtra, Karnataka, Uttar Pradesh, Karnataka, Madhya Pradesh, Manipur, Gujarat, Odisha, Tamil Nadu, Chhattisgarh, Haryana, Kerala, Jharkhand, Rajasthan, Meghalaya along with 1 UT Puducherry.
How many houses will be built in each state?
Here is a state/UT wise list of an exact number of houses that will be constructed under Pradhan Mantri Awas Yojana Urban that was passed in the 43rd CSMS meeting. Have a look.
- Uttar Pradesh – 1,79,215 houses
- Andhra Pradesh – 1,10,618 homes
- Maharashtra – 1,01,220 houses
- Karnataka – 48,729 homes
- Madhya Pradesh – 26,587 homes
- Gujarat – 25,861 houses
- Manipur – 13,715 houses
- Tamil Nadu – 12,174 homes
- Bihar – 10,084 houses
- Odisha – 7,472 homes
- Chhattisgarh – 7,076 houses
- Kerala – 4,194 homes
- Haryana – 4,019 homes
- Rajasthan – 3,601 houses
- Assam – 1,419 homes
- Meghalaya – 1,397 homes
- Puducherry – 1,158 houses
Now, all poor and home deprived people cut across various sections of the society living in urban areas of India can apply online filling the PMAY online application form.
What is home loan Pradhan Mantri Awas Yojana?
The Pradhan Mantri Awas Yojana for home loans is a credit-linked subsidy scheme that was launched by the Central Government in 2015 with the intention of ‘Housing for All.’
You can avail a home loan subsidy as per the category that you fall in such as Economically Weaker Section, Lower Income Group, Middle Income Group I and II.
As a result, you can save big on home loan interest rates up to Rs.2.67 lakh, and Rs.2.35 lakh respectively. The subsidy is available on a maximum loan amount of Rs.6 lakh, Rs.9 lakh and Rs.12 lakh as per your income groups.
The subsidized home loan interest rates are 6.5% for EWS/LIG, 4% for MIG – I and 3% for MIG II.
You can realize your home dream by availing subsidized home loan interest rates under the Pradhan Mantri Awas Yojana home loan. To know an exact EMI payable on the same, you can also use a home loan EMI calculator.
To begin, you can apply for the subsided home loan at your preferred bank or non-banking finance company (NBFC) participating under the PMAY scheme.
Also Read: What Essential Things To Know About PMAY?