Question

what are the main features of pmgy

Answer 1

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The features of Pradhan Mantri Awas Yojana are as following:



1. The government would provide an interest subsidy of 6.5% on housing loans availed by the beneficiaries for a period of 15 years from the start of loan.

2. The houses under Pradhan Mantri Awas Yojana would be allotted to preferably the female member of the family. Along with this, preference would be given to the female applicants. This scheme is mostly a pro-women scheme.

3. While allotting ground floors in any housing scheme under the PMAY, preference would be given to differently-abled and older people.

4. The construction of houses under PMAY would be carried out through technology that is eco-friendly.

5. In addition to the above, an Rs 1.5 lakh would be provided to all eligible urban poor who want to construct their own house in urban areas or wish to make necessary renovations in their existing houses

6. Under this scheme, the ICICI will provide housing loans at subsidized rates of 6.5 % annually for the loan amount of Rs. 6 lakh (maximum). This subsidy will be credit linked. This housing loan will be provided along with the partnership with National Housing Bank, which will administer the entire housing project. And the maximum loan tenure to get the subsidy is 15 years.