PMAY-U 2.0 refers to the Pradhan Mantri Awas Yojana – Urban 2.0, which is an extension of the Pradhan Mantri Awas Yojana – Urban (PMAY-U) scheme . It aims to provide affordable housing to the urban poor and middle-class families .
Here’s a detailed overview:
- Objective: PMAY-U 2.0 aims to provide financial assistance to eligible families/beneficiaries for constructing, purchasing, or renting affordable houses in urban areas . The goal is to achieve “Housing for All” .
- Duration: The scheme is implemented for five years, starting from September 1, 2021 .
- Coverage: PMAY-U 2.0 covers all statutory towns as per Census 2011 and towns notified subsequently, including planning and development authorities .
- Beneficiaries: The scheme targets urban poor and middle-class families, with a preference for women (especially widows and single women), persons with disabilities, senior citizens, transgender individuals, Scheduled Castes/Tribes, minorities, and other vulnerable groups . Special attention is given to Safai Karamcharis, street vendors (PM SVANidhi Scheme), artisans (Pradhan Mantri-Vishwakarma Scheme), Anganwadi workers, construction workers, and slum dwellers .
- Financial Assistance: The scheme provides central assistance of up to ₹2.50 lakh per house for eligible beneficiaries .
- Four Verticals: PMAY-U 2.0 is implemented through four verticals :
- In-situ Slum Redevelopment (ISSR): Providing houses to eligible slum dwellers by utilizing land as a resource with private sector participation .
- Credit Linked Subsidy Scheme (CLSS): Providing interest subsidies on home loans to Economically Weaker Sections (EWS), Low Income Groups (LIG), and Middle-Income Groups (MIG) .
- Affordable Housing in Partnership (AHP): Providing financial assistance for affordable housing projects undertaken in partnership with states/UTs, urban local bodies, and private developers .
- Beneficiary-led Construction (BLC): Providing financial assistance to individual eligible families belonging to EWS categories for constructing or enhancing their own houses .
- Interest Subsidy Scheme (ISS): The ISS vertical provides interest subsidies to EWS, LIG, and MIG categories on home loans .
- Monitoring and Implementation: Robust monitoring systems are established to track the progress of housing projects and ensure timely disbursement of subsidies .
- Economic Implications: PMAY-U 2.0 is expected to increase access to affordable housing, stimulate economic growth through increased construction activities, promote social equity, and improve urban infrastructure .
- Unified Web Portal: A unified web portal is used to simplify application processes, track status updates, and facilitate communication between stakeholders .
