In a recent address to the nation, PM Modi (Narendra Modi) announced a new scheme to help the urban poor build houses. The scheme called the Pradhan Mantri Awas Yojana (Urban) – Extension, will provide interest subsidy and other financial assistance to eligible familie.
It is targeted at families living in slums, unauthorized colonies, and rented accommodations in urban areas. To be eligible for the scheme, families must have an annual income of less than Rs. 3 lahks.
Under the scheme, the government will provide an interest subsidy of 6.5% on home loans for up to Rs. 2 lahks. This will reduce the monthly EMI for eligible families by up to Rs. 3,000. The government will also provide one-time assistance of Rs. 1.5 lakh to eligible families for the construction or purchase of a house.
Additionally, he scheme is expected to benefit over 2 crore urban poor families. It is a welcome move that will help to improve the living conditions of the urban poor and provide them with a roof over their heads.
Benefits of the scheme:
The Pradhan Mantri Awas Yojana (Urban) – Extension scheme offers a number of benefits to eligible families, including:
- Interest subsidy of 6.5% on home loans for up to Rs. 2 lakh
- One-time assistance of Rs. 1.5 lakh for the construction or purchase of a house
- Relaxed norms for income and asset verification
- Easy application process
How to apply for the scheme:
Eligible families can apply for the Pradhan Mantri Awas Yojana (Urban) – Extension scheme online or through the nearest bank branch. The application form can be downloaded from the website of the Ministry of Housing and Urban Affairs.
The application form must be accompanied by the following documents:
- Proof of identity
- Proof of residence
- Proof of income
- Aadhaar card (for all family members)
- Bank account details
- The application will be processed by the bank and the eligible families will be selected based on their income and asset criteria. The status of the application would be sent to the beneficiaries through SMS or e-mail
Also, to know more visit- https://pmay-urban.gov.in/
Conclusion:
Overall, the Pradhan Mantri Awas Yojana (Urban) – Extension scheme is a welcome move that will help to improve the living conditions of the urban poor. It offers a number of benefits to eligible families, including interest subsidy, one-time assistance, and relaxed norms for income and asset verification. Overall, the application process is also easy. Therefore, I urge all eligible families to apply for the scheme and avail of the benefits.