Pradhan Mantri Awas Yojana (PMAY)

Pradhan Mantri Awas Yojana (PMAY)

Onyx Groups is the Top Leading Real Estate Developer and Property Management Services in Chennai. Onyx Group of Companies includes Onyx Realtors, Onyx Constructions, Onyx Property Management, Onyx Home Stay, Onyx Services, Onyx Charitable Trust and is headquartered in Chennai remains nestled in the heart of the Tamil Nadu.

Pradhan Mantri Awas Yojana (PMAY) is a government home loan scheme introduced in June 2015 with a vision to boost affordable housing. PMAY Scheme was launched by Prime Minister Narendra Modi, it aims to provide over 2 crore affordable housing with water connection, toilet facilities and 24*7 power supply to eligible families/beneficiaries by March 31, 2022.

“Housing for All” Mission for urban area has been implemented with effect from 17.06.2015 to provide central assistance to implementing agencies. The Credit Linked Subsidy Scheme is being offered under this mission.

For Middle Income Group(MIG), the interest subsidy will be provided on housing loans for acquisition/construction of houses (including repurchase).

For Economically Weaker Section(EWS)/Lower Income Group(LIG), the interest subsidy will be provided on housing loans for acquisition, construction of house. The Credit Linked subsidy would also be available for home loan availed for new construction and addition of rooms, kitchen, toilet etc. to existing dwellings as incremental housing.

The interest subsidy benefit will be upfront on the principal outstanding.

The availability and amount of interest subsidy is subject to meeting income criteria as per various categories under the scheme.

Official Website – https://pmaymis.gov.in/
Launch Date – 25th June 2015
Expected Completion – By 2022
Toll Free Number – 1800-11-6163
Office Address – Pradhan Mantri Awas Yojana, Ministry of Housing and Urban Affairs Nirman Bhawan, New Delhi-110011.
Click to Download Manual – Pradhan Mantri Awas Yojana (PMAY) Manual

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