PMAY-U 2.0: Do you live in the city and are dreaming of your own house, If yes, then there is better news for you. Modi government has brought a great scheme for you – Pradhan Mantri Awas Yojana-Urban (PMAY-U) 2.0.
Under this scheme, the government will help one crore urban poor and middle-class families to build, buy, or rent a house in the next five years. Know how much the central government will help.
Your can make dreams true
Under PMAY-U 2.0, the government will help you in many ways. Whether you want to build your house, buy, or rent, this scheme has something for you. The government has created four main components under the scheme:
Beneficiary Based Construction (BLC): In this, the government gives money directly to the beneficiary, so that he can build his house.
Affordable Housing in Partnership (AHP): In this, the government and private developers together build affordable houses.
Affordable Tenant Housing (ARH): Under this scheme, affordable rental houses will be built, especially for the working class.
Interest Subsidy Scheme (ISS): If you are taking a home loan, the government will give you a subsidy on interest.
How much money will be available for building a house
The cost of building a house under BLC, AHP, and ARH will be divided between the Central Government, State/Union Territory/Urban Local Body, and eligible beneficiaries.
Government assistance under AHP/BLC will be Rs 2.50 lakh per square meter with certain conditions.
How much help will be available state-wise
For the North Eastern States, Himachal Pradesh, Uttarakhand, and Union Territories of Jammu and Kashmir, Puducherry, and Delhi, the Central Government will help Rs 2.25 lakh per house in the BLC and AHP category.
Also, the state government will help at least Rs 0.25 lakh per house. For the rest of the Union Territories, the Central Government will help Rs 2.50 lakh per house.
Apart from this, for other states, the Central Government will help Rs 1.50 lakh per house and the State Government will have to pay at least Rs 1.00 lakh per house.
What is this scheme
Let us tell you that Pradhan Mantri Awas Yojana-Urban is one of the largest affordable housing projects in the world. This scheme, which was started in the year 2015, benefited crores of families across the country.
Under the scheme, 1.18 crore houses were permitted, out of which more than 85.5 lakh houses have been done completing and given to the beneficiaries and the rest houses are under construction.