The Central Government has expanded the scope of Pradhan Mantri Awas Yojana - Urban (PMAY-U) 2.0, allowing families earning up to ₹9 lakh annually to receive financial aid for building or purchasing a house in urban areas. With a target to construct 1 crore new houses, the scheme is a major relief for the urban poor and middle-income groups struggling with housing costs.

🔹 What is PMAY-U 2.0?

Launched on June 25, 2015, by PM Narendra Modi, the scheme aims to provide affordable housing to economically weaker and middle-income families in urban India. PMAY-U 2.0, announced in the 2024 Budget, targets 1 crore urban families over the next five years.

🔹 Key Objectives of PMAY-U:

• Provide affordable housing to urban poor and middle-class families.

• Offer financial assistance to economically weaker sections for home construction or purchase.

• Promote slum redevelopment, rental housing, and housing partnerships with private builders.

🔹 PMAY-U Main Features:

• ₹2.5 lakh subsidy for building a house on own land.

• Interest subsidy up to ₹2.67 lakh on home loans.

• Affordable rental housing for migrants and workers.

• Government-built houses available at low rent.

🔹 Four Main Components of PMAY-U:

🔹 Income Eligibility

You can apply under only one component. Those who have availed housing benefits under any government scheme in the last 20 years are not eligible.

🔹 Priority Beneficiaries

The scheme prioritizes:

• Widows, single women, transgender persons

• Senior citizens, differently-abled, and minorities

• Street vendors under PM SVANidhi

• Artisans under PM Vishwakarma

• Anganwadi workers and construction laborers

• Slum dwellers and identified urban poor

🔹 How to Apply for PMAY-U

📝 Step-by-Step Process:

Step 1:

Step 2:

• Choose your State

• Select Income Category (EWS/LIG/MIG)

• Answer eligibility questions (e.g. Do you own a pucca house?)

• Fill in Aadhaar details, accept declaration, and generate OTP

Step 3:

• Fill your personal and family details

• Provide income proof and house ownership details

• Mention years of urban residence

• Upload required documents

Step 4:

• Enter full address, contact information

• Provide home loan details (if applicable)

• Submit the application

📄 Documents Required:

• Applicant's Aadhaar Card

• Aadhaar of family members

• Bank account details (Account No., IFSC, Bank Name)

• Income certificate (PDF under 100KB)

• Land documents (for BLC component)

❓ FAQs

1. How is the interest subsidy granted?

2. When is subsidy disbursed under BLC?
Within 15 days after application approval — in three installments (40%-40%-20%).

3. Can a person benefit from both PMAY-Rural and PMAY-Urban?
No, you can only apply for one — depending on whether you reside in a rural or urban area.

4. What’s the maximum home loan eligible for subsidy?
Loan amount should be up to ₹25 lakh for subsidy benefits under CLSS.

📌 Summary

• Up to ₹2.67 lakh subsidy on home loans under PMAY-U.

• Families earning up to ₹9 lakh/year now eligible.

• Online application open at: https://pmaymis.gov.in

• Apply only if you meet the income and property ownership criteria.

A golden opportunity for urban families to fulfill their dream of owning a home. Don't miss out — apply before it's too late!