PMAY Uttar Pradesh – State Govt. to Built Two Lakh Houses

PMAY Uttar Pradesh

PMAY Uttar Pradesh: After presenting the UP Budget 2017-18, Uttar Pradesh government is going to construct 2 lakh affordable homes under Pradhan Mantri Awas Yojana in 1 year. Uttar Pradesh government has also received 3,000 crores for the construction these houses under PMAY.  The PMAY Uttar Pradesh model was finalized by the Chief Minister Yogi Adityanath in Lucknow. These housing units would be constructed by the UPAVP, LDA and SUDA.

UPAVP has already taken the loan from HUDCO. However, UPAVP demanded a loan of Rs. 3000 crores to develop these houses under PMAY Uttar Pradesh.

Under this scheme, the government will provide subsidy on home loan interest to the beneficiaries of the scheme. The PM Awas Yojana Subsidy will be provided in four categories.

  • Subsidy on Loan Interest: Under this scheme, the eligible beneficiaries of the scheme will be able to get a house or enchantment of house on affordable price through the subsidy on loan for EWS, LIG MIG and MIG category people. In which the people will get a subsidy of 6.5%, 4% and 3% interest subsidy on the loan of 6 lakh, 9 lakh, and 12 lakh.
  • Subsidy to Construct House on Own Land: In the second category, the people will the subsidy on loan to reconstruct the house. Besides, the applicants will get the financial assistance of Rs. 1 lakh from central government Rs. 0.67 lakh from the state government.
  • Benefits will Available on Participation: These houses will be constructed with the public-private partnership including the Parastatal Agency for affordable housing facilities. In this facility, the center will provide Rs. 1.5 lakh and the state will provide Rs. 1 lakh per house.
  • Subsidy for Personal Construction: In the fourth category, the government will provide the subsidy to the beneficiaries for constructing personal housing and enhancement of house. The central and state government will give Rs. 1.5 lakh and Rs. 1 lakh for the construction of new houses of EWS category.

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