What is the Full Form of PMAY – Features & How to Apply?
PMAY Full Form
The full form of PMAY is Pradhan Mantri Awas Yojana. Launched on 25 June 2015, PMAY is a Government-backed initiative that promotes the concept of ‘housing for all’. The primary aim of PM Aawas Yojana is to provide affordable housing to the mid and lower-income group, and economically weaker sections of the society. Under PMAY, applicants can get interest rate subsidies based on their yearly household income. PMAY has two verticals: PMAY- Urban or Pradhan Mantri Awas Yojana-Shahri, and PMAY-Rural or Pradhan Mantri Awas Yojana-Gramin.
PMAY Details
| PMAY Full Form | Pradhan Mantri Awas Yojana |
| PMAY Verticals | PMAY – UPMAY- G |
| Launch Date | 25 June 2015 |
| Valid Till | PMAY-Urban: 31 December 31, 2024PMAY-Gramin: 31 March, 2024 |
| Official Website | PMAY Urban: https://pmaymis.gov.in/PMAY Rural: https://pmayg.nic.in/netiayHome/home.aspx |
| Office Address | Pradhan Mantri Awas Yojana (Urban) Ministry of Housing and Urban Affairs Nirman Bhawan, New Delhi-110011 |
| Complaints or Suggestion | [email protected]. |
| Other Contact Details | Landline No: 011-23063285,011-23060484 Email ID: [email protected] |
| PMAY Guidelines | Click to View Latest Guidelines |
PMAY Features and Benefits
Here are some of the features and benefits of PMAY:
- Maximum interest rate subsidy of up to 6.50%
- Upper limit for loan for which subsidy is given is Rs.12 lakh
- Maximum subsidy amount is Rs.2.67 lakh
- ECS (Economically Lower Section), MIG (Middle Income Group) and EWS (Economically Weaker Section) are eligible
- Components of PMAY are In-Situ Redevelopment, Affordable Housing in Partnership, Credit-Linked Subsidy Scheme and Enhancement and Construction of Beneficiary-led House
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How to Apply for PMAY Online?
Follow the steps below to apply for PMAY online:
- Step 1
Visit PMAY portal
- Step 2
Click on ‘Citizen Assessment’ and from the dropdown menu select ‘Apply Online’
- Step 3
Now you will be able to view 4 components
- Step 4
Select one the components to apply
Final Word
PMAY (full form – Pradhan Mantri Awas Yojana) has helped the economically weaker section purchase their dream home. Under the Pradhan Mantri Awaas Yojana –Gramin (PMAY-G), a total of 2.7 crore houses have been sanctioned and 2.1 crore houses have been completed by January 6, 2023, shows the Economic Survey 2022-23.
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