PMAY-U 2.0: Applications Open for 1 Crore New Homes – Here How to Apply

The Union Cabinet, under the leadership of Prime Minister Narendra Modi, has sanctioned the Pradhan Mantri Awas Yojana – Urban 2.0 (PMAY-U 2.0). Under this scheme, 1 crore urban poor and middle-class families will receive financial assistance through states/union territories (UTs) and financial institutions (PLIs) for house construction, purchase, or rental. The scheme will be implemented for five years from September 1, 2024.

Eligibility Criteria & Beneficiaries:

1. A beneficiary family consists of a husband, a wife, and their unmarried children.
2. The scheme applies to EWS (Economically Weaker Section), LIG (Low-Income Group), and MIG (Middle-Income Group) families in urban areas.
3. The beneficiary family should not own a permanent house anywhere in India.
4. The government will provide financial assistance of up to ₹2.50 lakh per housing unit.

Four Key Components of PMAY-U 2.0:

PMAY-U 2.0 will be implemented through four major components, offering flexibility to beneficiaries and states/UTs:

1. Beneficiary-Led Construction (BLC)
2. Affordable Housing in Partnership (AHP)
3. Affordable Rental Housing (ARH)
4. Interest Subsidy Scheme (ISS)

Key Features of PMAY-U 2.0:

1. Developed based on learnings from PMAY-U, global best practices, and consultations with stakeholders like state governments, banks, housing finance companies, and the private sector.
2. Minimum 30 square meters (sqm) carpet area per housing unit with essential civic and social infrastructure.
3. States/UTs can set the maximum house size at 45 sqm, but no additional financial aid will be provided by the central government.
4. States/UTs will provide basic infrastructure like water supply, sewage, and roads using their own resources.

Interest Subsidy Scheme (ISS) Benefits: EWS, LIG, and MIG beneficiaries will receive home loan subsidies for buying, repurchasing, or constructing homes. The subsidy applies only to loans approved and disbursed on or after September 1, 2024.

Annual Income Limits for Eligibility:

1. EWS (Economically Weaker Section): Up to ₹3 lakh
2. LIG (Low-Income Group): Up to ₹6 lakh
3. MIG (Middle-Income Group): Up to ₹9 lakh

Beneficiaries must submit an income certificate to verify eligibility.

Documents Required for PMAY-U 2.0 Application:

1. Aadhaar Card of the applicant
2. Aadhaar Cards of family members
3. Bank account details
4. Income certificate
5. Caste certificate (if applicable)
6. Land ownership documents (for BLC category applicants)

How to Apply for PMAY-U 2.0 Online?

1. Visit the official website at www.pmay-urban.gov.in.
2. Click on the "Apply for PMAY-U 2.0" option.
3. Enter details such as annual income, category, and other required information.
4. Complete Aadhaar authentication using OTP.
5. Upload address proof, income proof, and other necessary documents.
6. Submit the application and regularly check the application status.

The PMAY-U 2.0 aims to provide affordable housing to urban poor and middle-class families. If you meet the eligibility criteria, apply now to benefit from government financial aid and interest subsidies. Don't miss this opportunity—apply today and move closer to owning your dream home.

Read More- Pradhan Mantri Awas Yojana 2.0: Affordable Housing for the Poor