Components of Pradhan Mantri Awas Yojana-Urban (PMAY-U)
1. In-situ Slum Redevelopment (ISSR)
Under this component of ISSR, the central assistance of ₹1 lakhs per house is permissible for all houses built for eligible slum dwellers. Under the guidelines, after the redevelopment process, State/UT government will de-notify the slums. Cities/States will provide additional FAR/FSI or TDR to make projects financially stable. Slums who owned private land will get additional FAR/FSI or TDR by State/Cities as per its policy. In such cases no central assistance is permissible.
2. Credit-linked subsidy scheme(CLSS)
Beneficiaries of Middle-Income Group(MIG) -I, Middle-income group (MIG)-II, and Economically weaker section (EWS) /Low-income group (LIG) seeking housing loans from housing Finance, banks, and other such institutions for new construction, acquiring or enhancement of houses are eligible for an interest subsidy of 3%, 4% and 6.5% on loan amount up to ₹12 lakhs, ₹9 lakhs and ₹6 lakhs respectively. The ministry has designated the Nations housing bank(NHB), State bank of India (SBI), and Housing and urban development Corporation (HUDCO) as Central nodal agencies(CNAs) to channel this subsidy to the beneficiaries. For only the MIG category the scheme was been extended up to 31st March 2021.
3. Affordable housing in partnership (AHP):
The government of India will provide ₹1.5 lakhs per EWS house under AHP. An affordable housing project can include a mix of houses of different categories but they should be eligible for central assistance if only at least 35% of the houses project belongs to the EWS category. The UTs/states will decide the sale price of EWS houses with an objective to make them accessible and affordable to the beneficiaries. Cities and state also extend other concessions such as land at affordable, their state share, stamp duty exemption, etc.
4. Beneficiary-led Individual house construction/enhancement (BLC-N/BLC-E):
Under (BLC-N/BLC-E) the government of India will provide central assistance of up to ₹1.5lakh per EWS only to eligible families for individual house enhancement/construction. State/UTs will release central aid to the bank account of the beneficiary through Direct Benefit Transfer (DBT). First urban local bodies will validate the information and then the beneficiary has to submit the building plan so that ownership of land, economic status, and eligibility can be verified.
Pradhan Mantri Awas Yojana-Urban (PMAY-U)
Pradhan Mantri Awas Yojana-Urban is a mission of the government of India launched on 25th June 2015 by the Ministry of Housing and Urban Affairs (MoHUA). The main aim of this yojana is to construct pucca houses for all eligible urban peoples among EWS/LIG and MIG and slum dwellers by the year 2022. Central Nodal Agencies (CNAs), State level Nodal Agencies (SLNAs), Primary Lending Institutions (PLIs), and Implementing Agencies (IAs)/Urban Local Bodies (ULBs) are the main stakeholders who play an essential role in the success and implementation of PMAY-U.
This mission covers the entire urban areas consisting of notified planning areas, special area development authorities, Statutory towns, development authorities, industrial development authorities, or any such authority under state legislation that is entrusted with urban planning and regulations.
It provides ownership of houses in joint name or female member that promotes women’s empowerment. Differently abled persons, SCs, minorities, STs, OBCs, senior citizens, transgender, single women, and other vulnerable and weaker section can avail this yojana. This yojana adopts a cafeteria approach that suits the needs of individuals on the basis of their geographical conditions, economic conditions, topography, infrastructure and availability of land, etc.