Chinmaya IAS Academy – Current Affairs Chinmaya IAS Academy – Current Affairs
- Recently, Pradhan Mantri Awas Yojana (PMAY)- Urban has completed seven years of successful implementation.
- With a total investment of Rs 8.31 Lakh Crore, PMAY-U has so far sanctioned 122.69 lakh houses, out of which more than 1 crore houses have been grounded and over 61 lakh houses have been completed and delivered to the beneficiaries.
Pradhan Mantri Awas Yojana-Urban
- Pradhan Mantri Awas Yojana (PMAY) falls under the Government’s mission – Housing for All by 2022 for urban housing being implemented by the Ministry of Housing and Urban Affairs (MoHUA).
- It makes home loans affordable for the urban poor by providing a subsidy on the Interest Rate of a home loan during repayment by way of EMI (Equated Monthly Installments).
Beneficiaries:
- The Mission addresses urban housing shortage among the EWS/LIG and MIG categories including the slum dwellers.
- Economically Weaker Section (EWS) – with a maximum annual family income of Rs. 3,00,00.
- Low Income Group (LIG) – with maximum annual family income of Rs. 6,00,000) and
- Middle Income Groups (MIG I & II) – with a maximum annual family income of Rs. 18,00,000)
- A beneficiary family will comprise husband, wife, unmarried sons and/or unmarried daughters.
Affordable Housing through Credit Linked Subsidy (CLSS):
Beneficiaries of EWS, LIG, MIG (I &II) seeking housing loans from Banks, Housing Finance Companies and other such institutions for acquiring, new construction or enhancement of houses are eligible for an interest subsidy of:
- 5% on loan amount up to Rs. 6 Lakh
- 4% on loan amount up to Rs. 9 Lakh
- 3% on loan amount up to Rs. 12 Lakh
Geotagging:
- Geotagging is a process of adding geographical identification to various media like photography.
- Under the PMAY-U guidelines, it is mandatory for the state government to ensure that all houses built under the scheme are geotagged to the Bhuvan HFA (housing for all) application.
- Bhuvan is an Indian Geo Platform developed by the Indian Space Research Organisation (ISRO).
- It is a web-based application which allows users to access various map related services.
SOURCE: THE HINDU,THE ECONOMIC TIMES,MINT
