What is the Pradhan Mantri Shahari Awas Yojana?

Pradhan Mantri Awas Yojana – Urban (PMAY-U) is a central government mission launched in 2015 to provide affordable housing to all urban households, targeting economically weaker sections, low-income groups, and middle-income families through multiple delivery components.

Key Delivery Components

• In-Situ Slum Rehabilitation using land as resource with private participation
• Credit Linked Subsidy Scheme providing interest subvention on home loans
• Affordable Housing in Partnership with state and private developers

Beneficiary Categories

• EWS households with annual income up to Rs 3 lakh
• LIG households with income up to Rs 6 lakh
• MIG-I and MIG-II families up to Rs 12 and Rs 18 lakh annually

Impact on the Housing Market

• Stimulated affordable housing supply across Tier 1 and Tier 2 cities
• Brought first-time buyers into the formal housing market
• Increased private developer participation in the affordable segment

PMAY-Urban has been India's largest urban housing program, combining demand-side subsidies with supply-side incentives to address the significant housing shortage among lower and middle-income urban households across the country.