central government scheme
Pradhan Mantri Awas Yojana - Urban
Common abbreviation: PMAY-UProvides central assistance to urban local bodies and implementing agencies for housing all eligible urban households.
Quick Facts
Overview
PMAY-Urban addresses urban housing shortage among EWS, LIG, and MIG categories by ensuring a pucca house for all eligible families.
Benefits
Interest subsidy on home loans ranging from 3% to 6.5% based on income slab.
Eligibility Criteria
- Applicant must not own a pucca house anywhere in India.
- Urban resident.
- Household income must not exceed ₹6 Lakhs.