Union Cabinet approves Pradhan Mantri Awas Yojana-Urban (PMAY-U) 2.0 Scheme | Current Affairs | Vision IAS
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Union Cabinet approves Pradhan Mantri Awas Yojana-Urban (PMAY-U) 2.0 Scheme

Posted 10 Aug 2024

2 min read

PMAY-U 2.0, with an investment of ₹ 10 lakh crore, will address the housing needs of one crore families. 

Key features 

  • Ministry of Housing and Urban Affairs
  • Vision: ‘Housing for All’
  • Type:  Centrally Sponsored Scheme except for the ISS component (Central Sector Scheme).
  • Tenure: Till 2028-29
  • Eligibility: Families having no pucca house anywhere in the country and belonging to:
    • Economically Weaker Section (EWS)
    • Low Income Group (LIG)
    • Middle Income Group (MIG)
  • Coverage: All statutory towns as per Census 2011 and towns notified subsequently. 
  • Key verticals:
    • Beneficiary-Led Construction (BLC): Financial aid for EWS families to build homes on their land (Land rights may be provided by States/UTs to Landless).
    • Affordable Housing in Partnership (AHP): Redeemable Housing Vouchers will be given to EWS families to own houses built through different partnerships. 
    • Affordable Rental Housing (ARH): 2 modes-
      • Converting Government vacant houses into ARH or
      • Construct, Operate and Maintain rental housing by Private/Public agencies
    • Interest Subsidy Scheme (ISS): Subsidised home loans to beneficiaries.
  • Technology & Innovation Sub-Mission: To facilitate adoption of modern, innovative and green technologies
  • Other 
    • Technology Innovation Grant (TIG)
    • Affordable Housing Policy by States/UTs.
    • Facilitating equity by special focus on vulnerable groups.

About PMAY-U 1.0 

  • It was launched in  2015 to provide all-weather pucca houses to all eligible beneficiaries in the urban areas. 
  • So far 1.18 crore houses have been sanctioned while more than 85.5 lakh houses have already been constructed and delivered to the beneficiaries.
  • Tags :
  • Ministry of Housing and Urban Affairs
  • PMAY-Urban
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