Budget 2023: PM Awas Yojana allocation enhanced by 66% to Rs 79,000 crore

The Narendra Modi-led government launched PMAY in 2015 with the objective of providing affordable housing to all citizens. The scheme was created to assist the middle-income community, economically disadvantaged groups (EWS), and low-income groups (LIG).

Through this credit linked subsidy scheme (CLSS), the government aimed to provide its beneficiaries an interest subsidy to avail loans to purchase or build a house. The scheme is divided into two sections based on the areas it serves: Pradhan Mantri Awas Yojana-Urban (PMAY-U) and Pradhan Mantri Awas Yojana Gramin (PMAY-G) or Rural.

Source: Official websites

According to a PIB notification, as of January 3, 2022, overall, 1.14 crore houses had been sanctioned of which 53.42 lakh houses had been completed and delivered. The notification added that 16 lakh houses were being constructed using new technologies.

The PMAY mandates that the female head of the house be the owner or the co-owner. As per the PIB notification, 66.90 percent houses in the rural areas are either in the name of women beneficiaries or under joint name of both wife and husband.

According to the PIB data, as of 24th January 2022, 1.70 crore pucca houses have been constructed under PMAY-G and another 73 lakh houses were completed under the Indira Awaas Yojana (IAY), later restructured as PMAY-G in 2016, after 2014. 2.17 crore houses have been sanctioned under PMAY-G all over the country, according to the official data.