PMAY: Pradhan Mantri Awas Yojana Complete Guide 2020 Updated

Pradhan Mantri Awas Yojana by LivyoungRealty.com

Pradhan Mantri Awas Yojana: Complete Guide 2020

Did you know that over 1.53 crore houses have been constructed under the Pradhan Mantri Awas Yojana (PMAY) scheme?

After reading this go-to guide for understanding PMAY, you will be more than equipped to analyze its objectives, features, components, beneficiaries, achievements, and so on.

We will be covering the following topics in order to do so:

CONTENTS

  1. What is PMAY?
  2. Primary Objectives of PMAY
  3. Components of PMAY.
  4. Target Groups of PMAY
  5. Features of PMAY
  6. CLSS
  7. EMI Calculator
  8. Achievements
  9. How to Apply for the Scheme?
  10. Conclusion
  11. FAQs

Let’s dive in!

What is PMAY?

The Pradhan Mantri Awas Yojana or PMAY is a scheme launched by the Government of India in June 2015, primarily aiming to provide housing for all by the year 2022– when India will celebrate its 75th year of independence. It aims to build 20 million houses in the country whilst boosting affordability at the same time.

PMAY has two components based on where it is being implemented- Pradhan Mantri Awas Yojana (Urban) and Pradhan Mantri Awas Yojana (Gramin).

Primary Objectives of PMAY

Apart from various other aims, these are the few primary objectives of the PMAY scheme:

  • To build affordable pucca houses on Plot with round-the-clock water, sanitation, and electricity supply.
  • To address the shortages of nearly 20 million housing units that are needed by the urban and rural poor.
  • Transform slum areas by providing housing for the slum dwellers. This slum rehabilitation program is done in collaboration with private developers.
  • Preference is given to women, minorities, Scheduled Castes, Scheduled Tribes, Transgenders, and differently-abled.

Now that we know the basic aim of the scheme, let’s move on to understanding the differences of PMAY being implemented amongst the urban and the rural populations.

Components of PMAY

  • PRADHAN MANTRI AWAS YOJANA (URBAN)- PMAY (U)

 The scheme provides housing for the urban poor (with specified categories which we will look into shortly) as well as slum dwellers. It aims to build 2 crore houses by the year 2022 in listed urban areas. As of 1st January 2020, according to the Ministry of Housing and Urban Affairs, 4427 cities are covered under the scheme. It includes all the authorities responsible for urban planning, development, and regulations

To access the list of cities selected under PMAY-HFA (U), click here.

The implementation of PMAY (U) is to be done in 3 phases:

  1. Cover 100 cities in selected states and UTs between April 2015 and March 2017
  2. Cover 200 additional cities between April 2017 and March 2019
  • Cover the remaining cities between April 2019 and March 2022.

Home Loan PMAY by LivyoungRealty.com

      2.) PRADHAN MANTRI AWAS YOJANA (GRAMIN)- PMAY-G

The primary aim is to provide assistance to the homeless and those residing in decrepit houses to assist them in the construction of pucca houses. PMAY-G aims to construct 4 crore houses by 2022 in rural areas. This scheme was approved in March 2016, before which it was called the Indira Awas Yojana. It covers all rural areas across the country except Delhi and Chandigarh.

The beneficiaries of this scheme will be identified as per the Socio-Economic and Caste Census (SECC).

Target groups of PMAY & Income Criteria

The beneficiaries of this scheme come under three main categories– Economically Weak Sections (EWS), Low Income Groups (LIG), and Middle-Income Groups (MIG- further categorized into MIG 1 and MIG 2).

For MIG 1&2 categories, earning adults (irrespective of their marital status) can be considered as a separate family.

Eligibility criteria for beneficiaries: 

  • A beneficiary family consists of husband, wife, and unmarried children.
  • Beneficiary families should not own a pucca house in their name or in the name of any other family member, anywhere in India.
  • The individual seeking to benefit from the scheme must not avail the benefits of any other housing scheme under the Central or State Government

Refer to the table below to know what makes these beneficiaries eligible, interest subsidies provided for each category, and more:

ANNUAL HOUSEHOLD INCOME (IN RS) CATEGORIES INTEREST SUBSIDY SUBSIDY CALCULATED ON A MAXIMUM LOAN OF MAXIMUM INTEREST SUBSIDY (IN RS) CARPET AREA
Upto 3 Lakh EWS 6.5% per annum Rs 6,00,000 3.67 Lakhs Not specified
3 Lakh – 6 Lakh LIG
6 Lakh – 12 Lakh MIG- 1 4% per annum Rs 9,00,000 2.35 Lakhs 968 sqft
12 Lakh – 18 Lakh MIG- 2 3% per annum Rs 12,00,000 2.30 Lakhs 1184 sqft

 

PMAY Calculator by LivyoungRealty.com

Calculator and Financial Bill

For people coming under the EWS and the LIG categories who wish to take a loan of up to Rs 6,00,000, they receive an interest subsidy of 6.5% for a tenure of 15 years.

In rural areas interest subvention of 3% is offered on loans up to Rs 2 Lakhs for constructing new homes or extension of old homes. The government will financially assist to get affordable housing projects done in partnership with states/UTs for the EWS.

Further specified target groups include:

  • Indian women of all religions and castes
  • STs and SCs, transgenders, minorities.

These are the primary beneficiaries of the PMAY scheme targets.

Features of PMAY

Now that we’ve understood the scheme’s aims and objectives, components, and target groups- let’s dive into analyzing the various features PMAY leaves us with:

  • There are no restrictions on the value of the house being purchased or loan being availed.
  • Differently abled and senior citizens will be given preference to reside in the ground floors of the houses being constructed under the scheme
  • If you are purchasing a house in the EWS/LIG category, it is mandatory to have a woman owner/ co-owner. This feature helps with women empowerment. 
  • Eco-friendly technologies will be adopted during construction and development.
  • In case of home renovation/ extension in EWS/LIG categories- the carpet area can be a maximum of 323 sq ft and 645 sq ft respectively
  • Credit Linked Subsidy (CLSS) is implemented for weaker and mid-income sections on loans taken for new construction or renovation of existing homes.

There are few among the various features that the scheme provides us with.

Credit linked subsidy scheme (CLSS) 

As we previously studied, the PMAY primarily aims at providing affordable housing for all, rehabilitation of slums, subsidizing interests based on categories for independent house construction or renovation as well as Credit Linked Subsidy Scheme (CLSS).

Among these four main focus-points, Credit Linked Subsidy is the only scheme implemented as a central sector scheme. The benefits of CLSS can be availed by EWS and LIG categories.

CLSS is brought into the picture for two main reasons:

  • The Government of India wants to increase the flow of credit in institutions to meet the housing needs of the urban poor population.
  • To meet the demand for affordable housing prices.

Credit Linked Subsidy Scheme is implemented by two central nodal agencies:

All banks listed under the RBI offer the CLSS. 

Steps for Getting Interest Rate Subsidy through PMAY

  1. Apply for a home loan asking for a subsidy from the institution of your choice.
  2. Upon review of your application, if you meet the necessary eligibility criteria, your application will be forwarded to the Central Nodal Agency.
  3. If your application is verified and cleared, the Central Nodal Agency will pay out the subsidy amount to the lending institution you applied in.
  4. After reducing the total loan amount, this amount will be credited to you by the lending institution.

You will be able to pay the EMIs towards the balance loan amount.

PMAY Loan

Here is a list of banks under PMAY, according to https://www.bankbazaar.com/home-loan/pradhan-mantri-awas-yojana.html

Housing Finance Companies Under PMAY

  1. Aadhar Housing Finance Ltd.
  2. Aditya Birla Housing Finance Ltd.
  3. Akme Star Housing Finance Ltd.
  4. Aptus Value Finance Corporation Ltd.
  5. Aptus Value Housing Finance India Ltd.
  6. Aspire Home Finance Corporation Ltd.
  7. AU Housing Finance Ltd.
  8. Can Fin Homes Ltd.
  9. Capital First Home Finance Ltd.
  10. Capri Global Housing Finance Private Limited
  11. Cent Bank Home Finance Ltd.
  12. Dewan Housing Finance Corporation Ltd.
  13. DHFL Vyasa Housing Finance Ltd
  14. DMI Housing Finance Pvt. Ltd.
  15. Edelweiss Housing Finance Pvt. Ltd
  16. Equitas Housing Finance Pvt. Ltd.
  17. Fast Track Housing Finance Company Ltd.
  18. Fullerton Home Finance Company Ltd
  19. GIC Housing Finance Ltd
  20. GRUH Finance Ltd.
  21. Habitat Microbuild India Housing Finance Company Pvt. Ltd.
  22. HBN Housing Finance Ltd.
  23. Hinduja Housing Finance Limited
  24. Home First Finance Company Ltd.
  25. Housing and Development Corporation Limited
  26. Housing Development Finance Corporation Ltd.
  27. ICICI Home Finance Company Ltd.
  28. IKF Housing Finance Private Limited
  29. India Bulls Housing Finance Ltd.
  30. India Home Loan Ltd.
  31. India Infoline Housing Finance Ltd.
  32. India Shelter Finance Corporation Ltd.
  33. Khush Housing Finance Ltd.
  34. L&T Housing Finance Ltd.
  35. LIC Housing Finance Ltd.
  36. Magma Housing Finance
  37. Mahindra Rural Housing Finance Ltd.
  38. Mamata Housing Finance Company Pvt. Ltd.
  39. Manappuram Home Finance Pvt. Ltd.
  40. Manipal Housing Finance Syndicate Ltd.
  41. MAS Rural Housing and Mortgage Finance Ltd.
  42. Mentor Home Loans India Ltd.
  43. Micro Housing Finance Corporation Ltd
  44. Muthoot Homefin Ltd.
  45. Muthoot Housing Finance Company Ltd.
  46. National Trust Housing Finance Ltd.
  47. New Habitat Housing Finance and Development Ltd.
  48. Nivera Home Finance Ltd
  49. North East Region Housing Finance Ltd.
  50. Orange City Housing Finance Ltd.
  51. Panthoibi Housing Finance Company Ltd.
  52. PNB Housing Finance Ltd.
  53. RAAS Housing Finance (India) Ltd.
  54. Reliance Home Finance Ltd.
  55. Religare Housing Development Finance Corporation Ltd.
  56. Repco Home Finance Ltd.
  57. Sahara Housing Finance Corporation Ltd
  58. Saral Home Finance Ltd.
  59. SEWA Grih Rin Ltd.
  60. Shriram Housing Finance Ltd.
  61. Shubham Housing Development Finance Company Pvt. Ltd.
  62. SRG Housing Finance Ltd.
  63. Sundaram Home Finance Limited
  64. Supreme Housing Finance Limited
  65. Swagat Housing Finance Company Ltd.
  66. Swarna Pragati Housing Microfinance Private Limited
  67. Tata Capital Housing Finance Ltd.
  68. Ummeed Housing Finance Private Limited
  69. USB Housing Finance Corporation Ltd
  70. Vastu Housing Finance Corporation Ltd
  71. Viva Home Finance Ltd.
  72. West End Housing Finance Limited

Public Sector Banks Under PMAY

  1. Allahabad Bank
  2. Andhra Bank
  3. Bank of Baroda
  4. Bank of India
  5. Bank of Maharashtra
  6. Bhartiya Mahila Bank Ltd.
  7. Canara Bank
  8. Central Bank of India
  9. Corporation Bank
  10. Dena Bank
  11. Indian Bank
  12. Indian Overseas Bank
  13. Oriental bank of Commerce
  14. Punjab & Sind Bank
  15. Punjab National Bank
  16. State Bank of Patiala
  17. Syndicate Bank
  18. UCO Bank
  19. United Bank of India
  20. Vijaya Bank

Private Sector Banks Under PMAY

  1. Axis bank Ltd.
  2. Catholic Syrian Bank
  3. City Union Bank
  4. DCB Bank Ltd.
  5. Dhanlaxmi Bank Ltd
  6. ICICI bank Ltd.
  7. J & K Bank
  8. Karnataka Bank Ltd.
  9. Karur Vysya Bank Ltd.
  10. Lakshmi Vilas Bank
  11. Nainital Bank Ltd.
  12. South Indian Bank Ltd.
  13. Tamilnad mercantile Bank Ltd
  14. The Federal Bank Ltd.
  15. Yes Bank

 Rural Banks under PMAY

  1. Allahabad UP Gramin Bank
  2. Andhra Pradesh Grameena Vikas Bank
  3. Arunachal Pradesh Rural Bank
  4. Assam Gramin Bank
  5. Bangiya Gramin Vikas Bank
  6. Baroda Gujrat Gramin bank
  7. Baroda Rajasthan Kshetriya Gramin Bank
  8. Baroda Uttar Pradesh Gramin Bank
  9. Bihar Gramin Bank
  10. Bihar State Co-operative Bank Ltd.
  11. Bombay Mercantile Co-operative Bank
  12. Central Godavari Grameena Bank
  13. Chaitanya Godavari Grameena Bank
  14. Chhattisgarh Rajya Gramin Bank
  15. Chhattisgarh Rajya Sahakari Bank Maryadit
  16. Citizen Credit Co-op Bank Limited
  17. Cosmos Co-operative Urban Bank Ltd.
  18. Cosmos Co-operative Urban Bank Ltd.
  19. Dena Gujarat Gramin Bank
  20. Ellaquai Dehati bank
  21. Gramin Bank of Aryavart
  22. J& K Grameen Bank
  23. J&K State Cooperative Bank
  24. Jalgaon Janata Sahakari Bank Ltd.
  25. Janta Sahakari Bank Ltd
  26. Jharkhand Gramin Bank
  27. Jharkhand State Co-Operative Bank Ltd.
  28. Kalupur Commercial Co-operative Bank Ltd.
  29. Karad Urban Co-operative Bank Ltd.
  30. Karnataka Vikas Grameena Bank
  31. Kashi Gomti Samyut Bank
  32. Kaveri Grameena Bank
  33. Kerala Gramin Bank
  34. Kerala State Co-Operative Bank Ltd.
  35. Langpi Dehangi Rural Bank
  36. Madhya Bihar Gramin Bank
  37. Madhyanchal Gramin Bank
  38. Mahanagar Co-Operative Bank Ltd.
  39. Maharashtra Gramin Bank
  40. Manipur Rural Bank
  41. Meghalaya Co-Operative Apex Bank Ltd
  42. Meghalaya Rural Bank
  43. Mehsana Urban Co-Operative Bank Ltd.
  44. Mizoram Cooperative Apex Bank Ltd.
  45. Mizoram Rural Bank
  46. Nagaland Rural Bank
  47. Narmada Jhabua Gramin
  48. Nutan Nagarik Sahakari Bank Ltd.
  49. Odisha Gramiya Bank
  50. Odisha State Cooperative Bank
  51. Pandyan Grama Bank
  52. Pragathi Krishna Gramin Bank
  53. Prathama Bank
  54. Prime Co-operative Bank Ltd.
  55. Punjab & Maharashtra Co- operative Bank Ltd
  56. Punjab GRamin Bank
  57. Purvanchal Bank
  58. Rajasthan Marudhara Gramin Bank
  59. Rajkot Nagarik Sahakari Bank Limited
  60. Sangli Urban Co-Operative Bank Ltd.
  61. Sardar Bhiladwala Pardi People’s Co-Operative Bank Ltd.
  62. Sarva Haryana Gramin Bank
  63. Sarva UP Gramin Bank
  64. Sarvodaya Commercial Co- operative Bank
  65. Satlij Gramin Bank
  66. Saurashtra Gramin Bank
  67. Shikshak Sahakari Bank Ltd.
  68. Shree Panchganag Nagari Sahakari Bank Ltd.
  69. Shri Mahila Sewa Sahakari Bank Ltd.
  70. Sikkim State Co-Operative Bank Ltd.
  71. Telangana Grameena Bank
  72. The Ahmedabad Mercantile Co- operative Bank Ltd.
  73. The Bharat Co-operative Bank (Mumbai) Ltd.
  74. The Goa State Co-Operative Bank Ltd.
  75. The Greater Bombay Co- operative Bank Ltd.
  76. The Gujarat State Co-operative Bank Ltd
  77. The Kalyan Janata Sahakari Bank Ltd.
  78. The Nawangar Co-operative Bank Ltd.
  79. The Punjab State Cooperative Bank Ltd.
  80. The Surat People’s Cooperative Bank Ltd.
  81. The West Bengal State Co- operative Bank Ltd.
  82. Tripura Gramin Bank
  83. Utal Grameen Bank
  84. Uttar Bihar Gramin Bank
  85. Uttarakhand State Cooperative Bank Ltd.
  86. Uttarbanag Kshetriya Gramin Bank
  87. Vanachal Gramin Bank

 For more information on CLSS, click here, and here for the official website of the Ministry of Housing and Urban affairs.

EMI under PMAY scheme

Another merit of the PMAY scheme is that it makes it easier for those who are economically weaker to buy a home loan through EMIs at affordable and fair rates of interest.

It is very easy to calculate your EMI account, the provision is available in the official website.

    1. Visit the official website of Pradhan Mantri Awas Yojana- click here to directly go to the EMI calculator page
    2. Fill in the details asked- Total loan amount (in Rs), Rate of Interest, Total Loan Period (in Months)
    3. Click “Calculate” to get results.

Calculate EMI here

Achievements

With an increase in subsidized loan amount to Rs 12 Lakh, the scheme is expected to cover a larger proportion of the urban poor. For those in the low and mid-income sections, the PMAY reduces the cost of purchasing a home by Rs 1 lakh to Rs 2.3 Lakh. The increase in loan amount to Rs 12 Lakh and the extension of the scheme to cover the mid-income groups will make the dreams of more affordable homes come true.

According to a report published by livemint, as of December 2019-

  • 30 lakh houses have been constructed and a total of 57 lakh houses are under construction.
  • “Compared to the earlier JNNURM scheme, PMAY (U) has achieved 10 times more in a span of 4.5 years, whereas the earlier scheme had taken 10 years to achieve a significantly less number”, mentioned the report.
  • The wide-spread construction activities have resulted in employment generation.
  • Across six states, six lighthouse projects are being implemented so as to act as a laboratory to execute eco-friendly and green methods of construction and development.

PMAY TECHNOLOGY SUB-MISSION

To adapt faster, efficient, and green technology of construction, a Technology Sub-Mission has been set up. It will also look into the layout designs and building plans specific to various climatic and geographic zones. The Sub-Mission will coordinate with different regulatory bodies, states, and cities to ensure the efficient reach of modern methods of construction.

According to the Ministry of Housing and Urban Affairs, 

The Sub-Mission will work on the following aspects:

  • Design & Planning
  • Innovative technologies & materials
  • Green buildings using natural resources and
  • Earthquake and other disaster resistant technologies and designs. Simple concept of designs ensuring adequate sunlight and air should be adopted.

A technical cell has been set up in the Building Materials and Technology Promotion Council (BMTPC) under the Ministry to support the Sub-mission.

Among various other success pointers, these are a few.

PMAy by LivyoungRealty.com

How to apply for the scheme

You can apply for the PMAY scheme both online and offline. Here is a step-by-step guide for you if you choose to apply online:

  • Visit the official website for Pradhan Mantri Awas Yojana- https://pmaymis.gov.in/
  • Click on the “Citizen Assessment” drop-down option. Click on either the “For slum dwellers” or  “Benefit under 3 components” as per your category.
  • Fill in your Aadhaar card number and enter the application page.
  • Fill in the necessary details accurately.
  • Download the application form.
  • Print the page for reference.
  • Submit the form at your nearest CSC office outlet and financial institution/banks along with the necessary

Steps for Changing/ Editing Details After Application:

    • Visit the official website for Pradhan Mantri Awas Yojana- https://pmaymis.gov.in/
    • Fill in Application reference number and aadhar card details
    • Click on “Edit”

 

 

CONCLUSION

The Pradhan Mantri Awas Yojana or PMAY scheme aims to provide affordable “housing for all” by the year 2022. The mission started in June 2015 and has been rapidly progressing ever since.

The main objectives of the scheme include building affordable houses with round-the-clock water and electricity supply as well as sanitation; addressing the shortage of nearly 20 million housing units for rural and urban poor; slum rehabilitation.

The PMAY has two main components based on where it is being implemented- the Urban Scheme and the Gramin Scheme.

The prime target groups for the schemes are categorized based on income criteria– Economically Weak Sections of EWS (annual income up to Rs 3 lakh); Low Income Groups of LIG (Annual income lies between from 3 lakhs and 6 lakhs); the scheme is also extended to Middle Income Groups or MIG (which is further classified into MIG 1- annual income between 6 Lakhs and 12 Lakhs, and MIG 2- annual income between 12 Lakhs and 18 Lakhs).

Based on these categories, income subsidies, carpet area, etc are specified.

Some features of the scheme include eco-friendly methods of construction and development, Credit Linked Subsidy, women empowerment, and so on.

We then looked into the details of the Credit Linked Subsidy Scheme and how it addresses both the demand for affordable housing as well as the Government’s want to increase credit flow in institutions to meet the housing needs of urban poor.

We studied the various achievements of PMAY so far and learned how to apply for the scheme online.

For any queries regarding the PMAY scheme, here are some customer helpline numbers via https://www.bankbazaar.com/home-loan/pradhan-mantri-awas-yojana.html

  1. 1800-11-6163 (Urban, HUDCO)
  2. 1800-11-3388 (Urban,NHB)
  3. 1800-11-3377 (Urban,NHB)
  4. 1800-11-6446 (Gramin)

For region-specific information, you may use the following pages:

PMAY- ICICI Bank

PMAY- Axis Bank

I hope this guide helped you gain a detailed and comprehensive outlook on the PMAY scheme.

For more information, do refer to the further resources I’ve mentioned below:

https://pmaymis.gov.in/

https://www.bajajfinserv.in/home-loan-pradhan-mantri-awas-yojana

https://www.bankbazaar.com/home-loan/pradhan-mantri-awas-yojana.html

https://www.bankbazaar.com/home-loan/pradhan-mantri-awas-yojna-credit-linked-subsidy-scheme.html

http://mohua.gov.in/cms/progress-pmay.php

https://medium.com/@wavecity/objectives-and-features-of-pradhan-mantri-awas-yojana-scheme-75499797866e

https://housing.com/news/interest-subsidy-scheme-ews-lig-work/

Here are some helpful videos for further reference:

https://www.youtube.com/watch?v=Jk3bZwEzwtM

https://www.youtube.com/watch?v=w-F53YCAA3E

https://www.youtube.com/watch?v=zC20ZO_OIN4

FAQs on Pradhan Mantri Awas Yojana

Who is eligible for Pradhan Mantri Awas Yojana?

Ans.) The prime target groups for the schemes are categorized based on income criteria– Economically Weak Sections of EWS (annual income upto Rs 3 lakh); Low Income Groups of LIG (Annual income lies between from 3 lakhs and 6 lakhs); the scheme is also extended to Middle Income Groups or MIG (which is further classified into MIG 1- annual income between 6 Lakhs and 12 Lakhs, and MIG 2- annual income between 12 Lakhs and 18 Lakhs). Based on these categories, income subsidies, carpet area, etc are specified. 

How to Apply for the PMAY scheme?

Ans.) You can apply for the PMAY scheme both online and offline. Here is a step-by-step guide for you if you choose to apply online:

  • Visit the official website for Pradhan Mantri Awas Yojana- https://pmaymis.gov.in/
  • Click on the “Citizen Assessment” drop-down menu. Click on either the “For slum dwellers” or  “Benefit under 3 components” as per your category.
  • Fill in your Aadhaar card number and enter the application page.
  • Fill in the necessary details accurately.
  • Download the application form.
  • Print the page for reference.
  • Submit the form at your nearest CSC office outlet and financial institution/banks along with the necessary

How to check your name in PMAY 2019 Beneficiary List?

Ans)  Go to the official website of PMAY.

  • Find the “Search Beneficiary” drop-down menu and click on the “Search by Name”
  • Enter the first 3 characters of your name. Click “Show”.

Is Pradhan Mantri Awas Yojana available to existing home loan borrowers?

Ans) No. An existing home loan borrower is not eligible for the scheme. Only the people who match the eligibility criteria can avail the benefits of the PMAY scheme.

How can I get a loan under PMAY?

Ans.) Eligible applicants may apply for loans in his/her preferred bank of Non-Banking Financial Company. The application form will ask for various details of the applicant including, investments, other loans, income, properties, etc.

How do I check my PMAY list? 

Ans.)Go to the official website of PMAY.

  • Find the “Search Beneficiary” drop-down menu and click on the “Search by Name”
  • Enter the first 3 characters of your name. Click “Show”.

What is the PMAY scheme?

 Ans.) The Pradhan Mantri Awas Yojana or PMAY scheme aims to provide affordable “housing for all” by the year 2022. The mission started in June 2015 and has been rapidly progressing ever since.

The main objectives of the scheme include building affordable houses with round-the-clock water and electricity supply as well as sanitation; addressing the shortage of nearly 20 million housing units for rural and urban poor; slum rehabilitation.

What is Pradhan Mantri Awas Yojana (PMAY)- Credit Linked Subsidy Scheme (CLSS)?

 Ans.) The Credit Linked Subsidy Scheme addresses the demand for affordable housing as well as the Government’s want to increase credit flow in institutions to meet the housing needs of urban poor.