The Pradhan Mantri Awas Yojana started by the Government of India is a welcome initiative that the Panvelkar Group is supporting.
A roof over everyone's head should be a reality, and not merely a wish. Respected Prime Minister Narendra Modi ji has envisioned that this reality is accomplished by 2022.
The PMAY was launched in 2015 with the primary objective of 'affordable housing' for everyone, with a target of 2 crore homes within the span of seven years.
The biggest beneficiaries of PMAY will be the LIG (Lower Income Groups) and the EWS (Economically Weaker Sections).
Under this scheme, people can avail subsidies between 1 lakh to 2.30 lakhs while purchasing homes. Depending on their category, they will also receive subsidies on home loans, making it even more affordable.
The Panvelkar Group, by offering budget homes in compliance with the PMAY is an ideal choice for middle-income home-owners to invest with.
The first three criteria for eligibility are:
Although there are no strict regulations , if the beneficiary is a family, then the family must comprise of a husband, a wife and children who are unmarried. This is the basic criteria for acting as a beneficiary.
A beneficiary of this accord should not own any Pucca house in either his or her name or in the name of their family members.
Quick Highlights of PMAY
|Scheme Name||Pradhan Mantri Awas Yojana|
|Launch Date||25th June, 2015|
|Estimated Time for Completion||7 years (2022)|
|Primary Objective||Providing affordable houses to Indian citizens|
|Number of Houses to be Built||2 Crores +|
|Primary Target Group||Poor people of India belonging to LIG and EWS groups. LIG stands for low income group and EWS stands for Economically Weaker Sections|
|Primary Target Area||LIG and EWS people of urban areas|
|Scope of Scheme||Across India|
|Previous Name||Housing for All scheme|
|Launched by||Prime Minister Narendra Modi|