Since property and land prices are continually rising, buying a house or land remains a dream for many. People, living in metropolitan cities in India are especially unable to afford it.

In view of this, the Government of India launched Pradhan Mantri Awas Yojna (PMAY) in June 2015. It aims to provide Housing for All (HFA) by 2022 and the construction of 112.24 lakh homes in urban areas. As of now, about 112.52 lakh homes have been sanctioned.

The construction of these homes has started in Maharashtra, West Bengal, Tamil Nadu, etc. which will help to provide homes to all classes of society. The provision of houses under this scheme is not limited to urban areas but also in rural areas which guarantee development in rural real estate and associated industries.

Another benefit of this scheme is it ensures female ownership of the property whether or not she bought it. Preference is given to salaried women, widows, disabled, minorities, transgenders, and senior citizens. While building houses under this scheme, the developers have to ensure that they use eco-friendly construction technology and materials, without any damage to the environment in and around the construction site.

From April 2021 data, in Delhi, around 3980 houses have been sanctioned, 44560 houses grounded and 27960 houses have been completed. It excludes North Delhi MCD and south Delhi MCD. In Delhi NCR around 24,027 houses have been sanctioned, 64,607 houses grounded and 48,007 houses have been completed.

This scheme ‘Housing for All by 2022’, is a credit-linked subsidy scheme (CLSS), and individuals who avail of this scheme in form of residential property or land to construct homes are eligible for interest subsidies. But the scheme has a clause that people belonging to Economically Weaker Section (EWS), Lower Income Group (LIG), or Middle-Income Group MIG) are eligible to avail this.

The subsidy benefit for MIG-I and MIG-II categories ended on March 31, 2021, but the benefits for EWS and LIG categories have been extended till March 31, 2022.

The eligibility for this scheme states that the beneficiary family must not have any house or the beneficiary family has not availed any central assistance under any housing scheme from the government of India. Any adult in the house who is earning or even children who live with their parents but they are earning can avail this scheme. Married couples, currently living on rent but their parents own a house are also eligible to avail this scheme.

The eligibility criteria for EWS, LIG, MIG categories states that any household which has an annual income up to Rs 3 lakh comes under the EWS category, Households with an annual income between 3 lakhs to 6 lakhs come under LIG category. The household that has an annual income between Rs 6 lakh and 12 lakhs comes under MIG-I and between 12 lakhs to 18 lakhs comes under the MIG-II category.

Since the house is a basic need for everyone. With the PMAY scheme, all sections of society can fulfill their dream of having a house.

It is affordable, convenient and a boon to the middle class and lower class of Indian society.