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    Uttar Pradesh to Get Over 8,500 Houses Under The Pradhan Mantri Awas Yojana:

    The central government under the helm of Prime Minister Narendra Modi initiated the Pradhan Mantri Awas Yojana back in 2014 in a bid to provide housing for all backward and economically weaker classes in the country.

    Based on this project, the government at the center has decided to provide over 8,500 houses across districts in Uttar Pradesh under the same Pradhan Mantri Awas Yojana.

    What Exactly Is Happening With This Project?

    The State Urban Development Authority, under the guidance of the centre, has started providing a final touch to the list of districts that will house the project. This project was previously called the Indira Gandhi Awas Yojana has been changed to Pradhan Mantri Awas Yojana by the centre and the eligibility criteria for the same has been revamped.

    What Is The Eligibility Criteria To Get A House Under This Project?

    The government has set an eligibility criteria every applicant should meet. They are:

    1. The applicant should be between the ages of 21 and 55.
    2. For Economically Weaker Section (EWS) applicants, the maximum annual income should not exceed Rs. 3 lakh.
    3. For Low Income Group (LIG), on the other hand, the maximum annual income should be less than Rs. 6 lakh per annum.

    Who Are The Likely Beneficiaries Of This Initiative?

    The main beneficiaries under the Housing for All 2022 initiative as as follows:

    1. Women.
    2. People from Economic Weaker Sections (EWS) and Low Income Groups (LIG). These people also need to provide an affidavit or self-certificate as proof of in
    3. People from the Scheduled Castes (SCs).
    4. People from the Scheduled Tribes (STs).

    What Are The Financial Benefits Offered Under This Scheme?

    Earlier Rs. 70,000 was provided by the Pradhan Mantri Awas Yojana. However, this number has been increased to Rs. 1,20,000 currently.

    How Can One Apply For Houses Under The PMAY?

    Earlier, applicants had to submit physical application to the local Urban Development Authority. But, as the government realised that managing a massive amount of crowd is going to be an arduous task, it has begun with an online application process, where in interested parties need to fill an online form to apply for housing. This application for the PMAY can be found on the SUDA website.

    Are There Any Loan Available For PMAY House Seekers?

    Yes. This project has been taken up in conjunction with a number of public and private sector banks in India. Hence, any applicant opting for a house under Pradhan Mantri Awas Yojana will get subsidised loan from banks. Below is a brief update on the banks offering loans under PMAY:

    • All LIG and EWS individuals meeting the PMAY eligibility criteria will also be automatically eligible for interest rate subsidy at the rate of 6.5%.
    • The loan is valid for 15 years or till the repayment of the initial Rs. 6 lakh (whichever is lower). Any loan amount beyond Rs. 6 lakh will be provided at a non-subsidised rate.

    All in all, the Pradhan Mantri Awas Yojana has come up as a boon for millions of poor Indians who aren’t able to afford regular housing. This novel initiative is likely to contribute to the country’s growth in the long run.

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