The Pradhan Mantri Awas Yojana was introduced by the Government of India. This initiative was introduced by the Government of India for providing affordable housing to all the citizens who belong to the economically weaker sections of the society and the low-income groups. This initiative proposes to build around 2 crore houses by the year 2022 for both the urban and rural population of the country. Through this initiative, the Government of India will build affordable houses with good water facilities, sanitation and electricity supply. This initiative aims at transforming the slum areas by constructing homes for the slum dwellers in collaboration with private developers. The Pradhan Mantri Awas Yojana also offers credit linked subsidy to weaker and mid-income sections on the loans which is availed for the new construction or renovation of existing homes.
The citizens who have successfully applied for the scheme get their application reference number with the help of which they can check whether their names have appeared in the Pradhan Mantri Awas Yojana list or not. The scope of the scheme is to build 2 crore houses targeting all the eligible poor families and beneficiaries across all the states and union territories. The states and the union territories have been provided the liberty to formalize and execute the scheme as per the standard guidelines which are defined by the mission so that is it implemented in a timely manner without a delay.
Objectives of the Pradhan Mantri Awas Yojana:
- One of the major objectives of the Pradhan Mantri Awas Yojana has focused at providing the houses which are counted affordable for every eligible candidate by the end of 2022.
- It is important to mote that the Government has also included some of the ignored sections which include lower income members, widows, transgender etc.
- Under the mandatory conditions, filing a registration is necessary. It is important to get the benefits falling under the scheme.
4 features of the Pradhan Mantri Awas Yojana:
- The central government will provide an interest subsidy of 6.5% on housing loans opted by the beneficiaries for a period of 15 years from the time of beginning of the loan – this is 4% less than the market interest rate.
- A house is generally allotted to the female member of the family. In general, the woman applicants will be given preference in this initiative.
- Differently abled and old people are generally given preference when allotting houses on the ground floor.
The houses that are build through this initiative are built used eco-friendly materials and technology.
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