Pradhan Mantri Awas Yojana – Urban 2.0 (PMAY-U 2.0) 2024: Complete Details, Eligibility, Benefits, and Application Process

Welcome to sarkariyojnalabh.com, your trusted source for the latest updates on government schemes, jobs, results, admit cards, and application processes in Hindi and English. Today, we bring you a detailed overview of the Pradhan Mantri Awas Yojana – Urban 2.0 (PMAY-U 2.0), a flagship housing scheme by the Government of India aimed at providing affordable housing to urban poor and middle-class families. This scheme was approved by the Union Cabinet on August 9, 2024, and launched by the Honorable Prime Minister on September 17, 2024. All information in this blog is verified from official sources like the Press Information Bureau (PIB) and the Ministry of Housing and Urban Affairs (MoHUA) to ensure accuracy and reliability. Let’s dive into the details!

What is PMAY-U 2.0?

The Pradhan Mantri Awas Yojana – Urban 2.0 is the second phase of the PMAY-U scheme, aligned with the government’s ‘Housing for All’ vision. It aims to assist 1 crore urban households in constructing, purchasing, or renting affordable homes over the next five years (2024-2029). With a total investment of ₹10 lakh crore, including ₹2.30 lakh crore in central assistance, the scheme prioritizes women, slum dwellers, SC/ST communities, minorities, and other marginalized groups.

Objectives of PMAY-U 2.0

• Provide affordable housing to 1 crore urban poor and middle-class families.
• Ensure inclusive access for slum dwellers, SC/ST, minorities, widows, persons with disabilities, and other vulnerable groups.
• Promote modern, innovative, and eco-friendly construction technologies.
• Support rental housing for urban migrants, workers, and students.
• Contribute to the ‘Housing for All’ goal by 2047.

Benefits of PMAY-U 2.0

The scheme offers financial assistance, interest subsidies, and other benefits to eligible beneficiaries. Key benefits include:

• Financial Assistance:
  • Beneficiary-Led Construction (BLC) and Affordable Housing in Partnership (AHP): Central assistance of ₹1.50 lakh to ₹2.50 lakh per housing unit, depending on the region:
    • Other states: ₹1.50 lakh (central) + minimum ₹1.00 lakh (state).
    • North-Eastern states, Himachal Pradesh, Uttarakhand, J&K: ₹2.25 lakh (central).
    • Other Union Territories: ₹2.50 lakh (central).
• Interest Subsidy Scheme (ISS): 4% subsidy on home loans up to ₹8 lakh for 12 years, with a maximum subsidy of ₹1.80 lakh disbursed in 5 annual installments. Applicable for loans up to ₹25 lakh and property value up to ₹35 lakh.
• Technology Innovation Grant (TIG): ₹1,000 per sq. meter for AHP and ₹3,000 per sq. meter for Affordable Rental Housing (ARH), with an additional ₹2,000 from states.
• Affordable Rental Housing (ARH): Provides rental homes for working women, migrant workers, and students through existing government housing or new constructions.
• Progress Update: Over 6 lakh houses have received in-principle approval as of December 2024.

Eligibility Criteria

To be eligible for PMAY-U 2.0, applicants must meet the following criteria:

• Income-Based Eligibility:
  • Economically Weaker Section (EWS): Annual income up to ₹3 lakh.
  • Low Income Group (LIG): ₹3-6 lakh.
  • Middle Income Group (MIG): ₹6-9 lakh.
• Applicants must not own a pucca house anywhere in India.
• Priority Groups: Slum dwellers, SC/ST, minorities, widows, persons with disabilities, sanitation workers, street vendors (PMSVANidhi beneficiaries), artisans (PM Vishwakarma), Anganwadi workers, and construction workers.
• Coverage: All statutory towns as per the 2011 Census, subsequently notified towns, and planning/development areas.

Components of PMAY-U 2.0

1. Beneficiary-Led Construction (BLC): Financial aid for EWS families to build homes on their own land. Landless beneficiaries may receive land titles from states/UTs.
2. Affordable Housing in Partnership (AHP): Housing projects in collaboration with states/UTs or private/public agencies. Redeemable vouchers for private projects.
3. Affordable Rental Housing (ARH): Two models—utilizing existing government housing or new construction. TIG applicable.
4. Interest Subsidy Scheme (ISS): Subsidized home loans for eligible categories.

Application Process

The application process is simple and digital:

1. Visit the official PMAY-U 2.0 portal: https://pmaymis.gov.in/PMAYMIS2_2024/PmayDefault.aspx
2. Upload required details like Aadhaar, income proof, and bank details.
3. Select your category (EWS/LIG/MIG) and submit the form.
4. Track your application status online.

• Alternatively, apply offline through Common Service Centers (CSCs) or PMAY help centers.
• Required Documents: Aadhaar card, income certificate, bank account details, residence proof, passport-size photo.
• States/UTs will complete demand surveys by March 31, 2025.

Timeline

• Launch Date: September 17, 2024.
• Duration: 5 years (2024-2029).
• States/UTs must formulate an Affordable Housing Policy by March 2025.

Additional Information

• PMAY-U 2.0 is a Centrally Sponsored Scheme, with ISS as a Central Sector Scheme.
• Under PMAY-U 1.0, 1.18 crore houses were sanctioned, with 88.32 lakh completed.
• The scheme has generated 917 crore person-days of employment in construction.
• For updates, visit PIB or MoHUA.

Conclusion

PMAY-U 2.0 is a reliable and official opportunity for urban families to own or rent affordable homes. All information in this blog is sourced from verified government channels like PIB and MoHUA to ensure accuracy. If eligible, apply today to secure your dream home. Stay tuned to sarkariyojnalabh.com for the latest government scheme updates. Have questions? Drop them in the comments!

Keywords: PMAY-U 2.0 2024, Pradhan Mantri Awas Yojana Urban, Eligibility and Benefits, Application Process, Government Scheme 2025.