Pradhan Mantri Gramin Awas Yojana (PMAY-G) is a social welfare program by the government of India which will provide low-cost housing to the rural Indian people. It is for BPL families who are houseless or financially weak to afford a house. This scheme is scheduled for completion by the year 2022 just like the ‘Housing for all’ or the Pradhan Mantri Awas Yojana (Urban) scheme.
Under the Pradhan Mantri Gramin Awas Yojana, if you are from a rural area in India, you can get 3% concession on interest rates on housing loans of upto Rs.2 lakh. You can avail this loan either for constructing a new house or for expanding your existing home.
The PMGAY has several prominent features some of which are mentioned below:
Huge Target
The estimated total number of houses to be constructed under this scheme by the year 2022 is around 4 crores.
Huge Expenses
The estimated total expenditure for this scheme is Rs.60,000 crore.
Direct Transfer
The funds allocated under the scheme will be transferred directly to the beneficiaries.
This scheme is beneficial for people living in rural India. These are the people who will get the most benefit from this scheme:
Understand the eligibility criteria to avail the benefits of Pradhan Mantri Gramin Awas Yojana.
