PM Awas Yojana Urban 2.0: On July 23, Finance Minister Nirmala Sitharaman proposed a budget of ₹10 lakh crore for the PM Awas Yojana Urban 2.0. This initiative focuses on providing housing for middle-class and urban poor families. The main goal of PM Awas Yojana Urban 2.0 is to ensure everyone in urban areas has access to affordable housing. This initiative aims to improve living conditions and promote sustainable development in cities.
PM Awas Yojana Urban 2.0
Pradhan Mantri Awas Yojana (PMAY), Finance Minister Nirmala Sitharaman has introduced new support for home loans for the middle and lower-middle classes. In the Budget 2024 speech, it was announced that Rs 10 lakh crore will be invested to help one crore urban poor and middle-class families with their housing needs through PM Awas Yojana Urban 2.0. This plan includes Rs 2.2 lakh crore in central support over the next five years and aims to offer interest subsidies to make loans more affordable.
Objective Of PM Awas Yojana Urban 2.0
Finance Minister Nirmala Sitharaman announced the PMAY Urban 2.0 during the Budget 2024 presentation. This scheme aims to provide housing for all. The government plans to meet the housing needs of one crore poor and middle-class people, investing Rs 10 lakh crores. Over the next five years, the central government will contribute Rs 2.2 lakh crores as part of this initiative.
Read Also:- [Benefits List] PM Awas Beneficiary List
Features & Benefits of PM Awas Yojana Urban 2.0
- The PM Awas Yojana Urban 2.0 is one of the Modi government’s most ambitious initiatives.
- Finance Minister Nirmala Sitharaman unveiled it in the 2024 Budget to improve housing access for everyone.
- A total of ₹10 lakh crore will be invested to meet the housing needs of one crore urban poor and middle-class people.
- The yojana aims to add three crore new homes in both rural and urban areas across the nation.
- Over the next five years, ₹2.2 lakh crore in federal aid will be provided.
- An interest subsidy will be available to help people borrow at affordable rates.
- The scheme will create a more accessible, transparent, and efficient rental housing market.
Eligibility Criteria for PM Awas Yojana Urban 2.0
- Economically Weaker Section (EWS): Families earning up to ₹3,00,000 per year.
- Low Income Group (LIG): Families earning between ₹3,00,001 and ₹6,00,000 per year.
- Middle Income Group-1 (MIG-1): Families earning between ₹6,00,001 and ₹12,00,000 per year.
- Middle Income Group-2 (MIG-2): Families earning between ₹12,00,001 and ₹18,00,000 per year.
- The applicant and their family members should not own a permanent house anywhere in India.
- The family must include a husband, wife, and unmarried children.
- The housing plan should cover the family’s current town or city.
- The family must not have previously benefited from any other housing programs.
PM Awas Yojana Urban 2.0 Apply Online
- First of all, Visit the official PMAY website: https://pmaymis.gov.in/
- On the homepage, find and click the “Apply” link.
- An application form will appear. Fill it out with your details like Name, Email ID, Mobile Number, and Address.
- Upload the required documents as specified.
- Click the “Submit” button to finish your application.