12 Lakh Houses to be constructed in Pradhan Mantri Awas Yojana – Urban (PMAY-U) 2017-18. A Central Government Scheme.

Central government aims to ensure housing for all by the year 2022 through Pradhan Mantri Awas Yojana. The government has so far sanctioned construction of 18.76 lakhs houses across the country. Out of total, funding for construction of 13.06 Lakh homes have been issued.

The number of sanctioned and constructed homes is huge because of delay in land acquisition for construction of homes. The delay in land acquisition is one of the biggest reasons of delayed construction of PMAY homes.

Targets of Pradhan Mantri Awas Yojana:

As per the report in moneycontrol.com, following targets of construction of homes have been set by the central government.

Financial Year                    Target No. of Houses to be Constructed
2017-18                                         12 Lakh
2018-19                                         26 Lakh
2019-20                                         26 Lakh
2020-21                                         30 Lakh
2021-22                                         29.80 Lakh

Eligible Beneficiaries of PMAY are being provided benefits through several components. One of the largest benefit component of PMAY is Credit Linked Subsidy under which interest subsidy is being provided to EWS, LIG and MIG candidates on home loans availed in 2017 for a maximum tenure of 20 years. The government has announced CLSS for MIG and updated guidelines of CLSS for EWS/LIG recently.

Central government is inviting online applications for Pradhan Mantri Awas Yojana for assessments of candidates through its official portal pmaymis.gov.in.