There are several affordable housing schemes initiated in India to promote affordable housing for low and middle-income groups. Here are some of the notable affordable housing schemes in India:
Affordable housing schemes:
Pradhan Mantri Awas Yojana (PMAY) – Urban: Launched in 2015, PMAY-U aims to provide affordable housing for the urban poor. It includes two components – In-Situ Slum Redevelopment and Credit-Linked Subsidy Scheme (CLSS) for Economically Weaker Sections (EWS) and Lower Income Groups (LIG).
Pradhan Mantri Awas Yojana (PMAY) – Gramin: This scheme focuses on providing affordable housing in rural areas. It aims to provide pucca houses with basic amenities to eligible beneficiaries.
Affordable Housing in Partnership (AHP) Scheme: Under PMAY-U, this scheme encourages public-private partnerships for affordable housing projects. It targets EWS and LIG segments.
Rajiv Awas Yojana (RAY): This scheme was aimed at creating a slum-free India and promoting affordable housing for the urban poor. It has been subsumed under PMAY-U.
Credit-Linked Subsidy Scheme (CLSS): Part of PMAY-U, CLSS provides interest subsidies on home loans for EWS, LIG, and Middle-Income Group (MIG) beneficiaries.
Other Housing Scheme:
Deen Dayal Upadhyaya Grameen Kaushalya Yojana (DDU-GKY): While not exclusively an affordable housing scheme, DDU-GKY focuses on training rural youth and placing them in jobs, thereby indirectly contributing to their ability to afford housing.
Housing for All in Urban Areas: This is an overarching goal of the government, and various states have their own schemes to achieve this objective. Also, offering incentives and subsidies to encourage affordable housing development.
State-Specific Schemes: Many states in India have their own affordable housing schemes tailored to their specific needs and conditions. Examples include the Mukhyamantri Awas Yojana in Gujarat and the Maharashtra Housing and Area Development Authority (MHADA) housing schemes.
These schemes offer various benefits such as interest subsidies, direct financial assistance, and support for infrastructure development. To avail of these benefits, individuals should check eligibility criteria, application procedures, and the availability of schemes in their respective states.
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