The central government has extended the validity of Pradhan Mantri Awas Yojana (PMAY) – Urban till December 31, 2024. This flagship scheme of the Modi government to help achieve the objective of ‘Housing For All’ was launched in 2015. Under the Housing For All Mission, all eligible urban beneficiaries were to be provided pucca houses by March 2022. But the scheme had to be extended as during the last two years of the scheme, proposals of 40 lakh homes from the states and union territories were received late. As such , the Centre has granted extension till December 31, 2024 to complete the homes under Housing For All mission.. And accordingly, PMAY- Urban that provides interest subsidy of up to Rs 2.67 lakhs to the beneficiaries, has also been extended.
The Centre had originally projected demand of 100 lakh houses under Housing For All in 2017. Against this demand, 102 lakh houses have been grounded/under construction. Out of these 62 lakhs houses have been completed. Since 2015, the Centre has approved an assistance of Rs 2.03 lakh crore under PMAY- Urban. This is over 10 times the assistance provided by the central government between 2004 and 2014. All the sanctioned houses till March 31, 2022, numbering 122.69 lakh will be provided financial assistance for completion.