Pradhan Mantri Awas Yojana – Urban 2017-18 Target Set at 12 Lakh Affordable Homes

May 23, 2017 | Last Modified: May 23, 2017 at 4:12 pm

The government has set a target of constructing affordable homes under Pradhan Mantri Awas Yojana – Urban 2017-18. For the current financial, the government has set a target of constructing 12 lakh homes under PMAY-Urban, a dream project of Narendra Modi government. In the last financial year, the government developed only 1.49 lakh under governments flagship scheme PMAY (Urban).

Under the scheme, central government targeted to ensure housing for all by the year 2022 through Prime Minister’s Housing Scheme. So far, the The government has approved the construction of 18.76 lakhs affordable houses in 2151 cities & towns across the country. Besides, the government has issued the funding for the construction 13.06 Lakh homes.

Pradhan Mantri Awas Yojana – Targets

As per the information received from the source, central government has set the following target for current and upcoming financial years.

Financial Year Target No. of Houses to be Constructed
2017-18 12,00,000 Houses
2018-19 26,00,000 Houses
2019-20 26,00,000 Houses
2020-21 30,00,000 Houses
2021-22 29.80,000 Houses

The government is providing benefits to PMAY eligible beneficiaries through several components. Credit Linked Subsidy is the second targeted component of PMAY under which interest subsidy on home loan under PMAY is being provided to EWS, LIG and MIG candidates for a maximum tenure of 20 years.

CLSS for MIG has also been announced by the government, along with guidelines of CLSS for EWS/LIG recently has also been updated.

The facility of online applications for Pradhan Mantri Awas Yojana for assessments of candidates through its official portal pmaymis.gov.in.