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Pradhan Mantri Awaas Yojana was launched in June 2015 with an aim to provide affordable housing to urban poor. Under PMAY, it is proposed to build 2 crore houses for urban poor including Economically Weaker Sections and Low-Income Groups in urban areas by the year 2022 through a financial assistance of ₹2 trillion from central government. This Mission has four components viz., In-situ Slum Redevelopment with private sector participation using land as resource, Affordable Housing through Credit Linked Subsidy, Affordable Housing in Partnership with private and public sector and Beneficiary led house construction/ enhancement. Under these components, central assistance will be in the range of ₹1 lakh to ₹2.30 lakh. The houses given under this scheme will be owned by females or jointly with males.
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