Context:
In his 77th Independence Day address, the Prime Minister introduced a new scheme to address the housing challenges confronting the urban poor. This initiative works in conjunction with the existing flagship program, Pradhan Mantri Awas Yojana Urban (PMAY-U), launched in 2015.
Relevance:
GS II: Government Policies and Interventions
Dimensions of the Article:
- Pradhan Mantri Awas Yojana Urban
- Components of PMAY-U: Enhancing Urban Housing
Pradhan Mantri Awas Yojana Urban
Implemented by the Ministry of Housing and Urban Affairs (MoHUA), the PMAY-U initiative aims to alleviate the pressing issue of inadequate urban housing among economically disadvantaged sections through the following key points:
Objective and Timeline:
- The mission’s primary objective is to provide durable and permanent houses to eligible urban households by 2022.
- To ensure the completion of all sanctioned houses, the scheme’s duration has been extended until December 2024. The funding and implementation approach remain unchanged.
Target Beneficiaries:
- The scheme targets urban housing shortages among various economic segments, including the EWS/LIG and MIG categories.
- Economically Weaker Section (EWS) with a maximum annual family income of Rs. 3,00,000.
- Low Income Group (LIG) with a maximum annual family income of Rs. 6,00,000.
- Middle Income Groups (MIG I & II) with a maximum annual family income of Rs. 18,00,000.
- Beneficiary families include husbands, wives, unmarried sons, and/or unmarried daughters.
Components of PMAY-U: Enhancing Urban Housing
The Pradhan Mantri Awas Yojana Urban (PMAY-U) comprises several key components aimed at improving urban housing conditions:
In-situ Slum Redevelopment (ISSR):
- Offers Rs. 1 lakh per dwelling as Central Assistance to eligible slum residents during redevelopment.
- Focuses on utilizing land as a resource in collaboration with private developers.
- States/Cities can allocate this assistance to other slum redevelopment projects if needed.
Credit Linked Subsidy Scheme (CLSS):
- Supports EWS/LIG and Middle Income Group (MIG) individuals seeking housing loans.
- Provides interest subsidies as follows:
- 6.5% on loans up to Rs. 6 Lakh
- 4% on loans up to Rs. 9 Lakh
- 3% on loans up to Rs. 12 Lakh
- Designated Central Nodal Agencies (HUDCO, NHB, SBI) channel subsidies through lending institutions.
Affordable Housing in Partnership (AHP):
- Offers Rs. 1.5 Lakh Central Assistance for each EWS dwelling by the Government.
- Focuses on affordable housing projects targeting at least 35% of homes for EWS category.
- States/UTs set affordability limits for EWS homes.
Beneficiary-led Individual House Construction/ Enhancement (BLC-N/ BLC-E):
- Provides up to Rs. 1.5 lakh Central Assistance for constructing/enhancing individual houses.
- Urban Local Bodies verify beneficiary information, land ownership, and eligibility.
-Source: The Hindu
