Pradhan Mantri Affordable Housing Scheme for Urban People Pradhan Mantri Awas Yojana which is also known as housing for all was launched by the Prime Minister of India Mr. Narendra Modi in June 2015 with a target to offer affordable accommodation to urban poor. Under Pradhan Mantri Yojna, central government is aiming to build 2 crore houses for people who are economically weak by the year 2022. The affordable housing scheme got the support of rupees 2 trillion by the central government. Affordable Housing Scheme is mainly focusing on reasonable homes with all basic amenities like water supply, proper sanitation facilities, electricity supply and a complete access to all other basic needs. Under Pradhan Mantri Awas Yojana everyone will be equally eligible and no discrimination will be done on the basis of caste and religion. Furthermore, first preference will be given to female applicants and ground floor of the houses will give first choice to physically differently abled or to senior citizens. Pradhan Mantri Yojana will work in a very systematic and beneficial procedure. Under awas yojana government will provide subsidy up to 2.30 Lakhs. General home loans ask for 10.5% interest rates but under this scheme buyers will have to give only 6.5% interest for their loan which is 4% below the market rate and will last for 15 years from the date.
The central government will accept all latest techniques to build homes which have to be allotted under the scheme. The government will setup a technology cell which will be modern, innovative and eco friendly. These technologies will be earthquake and other disaster resistant and will adopt simple concepts to ensure proper ventilation.
The Pradhan Mantri Awas Yojana will work in three phases. From April 2015 to March 2017, the first phase of the scheme will start to develop hundred cities and this goal should be achieved in this phase only. Second phase of the scheme will be from April 2017 to March 2019, in this phase, the development of 200 or more cities will be covered. The final phase of this scheme will be from April 2019 to March 2022 and this phase should cover the development of all the remaining cities which are under the scheme. The government has taken a very important decision by launching Pradhan Mantri Awas Yojna, ‘Housing for all scheme’, especially planned and will be launched for the people who are not able to purchase their own house due to financial issues . The Yojna is the perfect housing solution for all the citizens of India.
Source of Content – https://realestateprojectsblog.wordpress.com/2016/07/30/pradhan-mantri-affordable-housing-scheme-forurban-people/