The Union Cabinet chaired by Hon’ble Prime Minister Shri Narendra Modi approved Pradhan Mantri Awas Yojana-Urban 2.0 under which financial assistance will be provided to 1 crore urban poor and middle-class families through States/Union Territories (UTs)/PLIs to construct, purchase or rent a house at an affordable cost in urban areas in 5 years starting from 1st Sept 2024.
A beneficiary family will comprise of husband, wife, unmarried sons and/or unmarried daughters. Families belonging to EWS/LIG/MIG segments, living in urban areas, should not own a pucca house (an all-weather dwelling unit) either in his/her name or in the name of any member of his/her family in any part of India. The Government assistance under PMAY-U 2.0 will be upto ₹ 2.50 lakh per unit.
The Scheme will be implemented through following four verticals: Beneficiary Led Construction (BLC) Affordable Housing in Partnership (AHP) Affordable Rental Housing (ARH) Interest Subsidy Scheme (ISS) which will provide flexibility to the beneficiaries/ States/UTs in choosing different options available under the Scheme.
The contours of PMAY-U 2.0 have been designed on the basis of learnings of PMAY-U scheme, global best practices/ benchmarks and outcomes of series of consultations with multiple stakeholders including States/UTs, Banks, Housing Finance Companies, Private Sector etc.
The Scheme will support construction of houses with a minimum of 30 square meter (sqm) carpet area along with basic civic amenities and social infrastructure. Further, States/UTs will have the flexibility in terms of determining the size of houses up to 45 sqm and other facilities in consultation with the Ministry, without any enhancement in financial assistance from Government of India. States/UTs through their implementing agencies will provide trunk infrastructure from their own resources up to project site.
Preference under the Scheme will be given to Widows, single women, Persons with Disabilities, Senior Citizens, Transgenders, persons belonging to Scheduled Castes/Scheduled Tribes, Minorities and other weaker and vulnerable sections of the society. Special focus will be given to Safai Karmi, Street Vendors identified under the PM SVANidhi Scheme and different artisans under the Pradhan Mantri-Vishwakarma Scheme, Anganwadi workers, Building and Other Construction Workers, residents of slums/chawls and other groups identified during operation of PMAY-U 2.0.