Pradhan Mantri Awas Yojna (PAMY)

Pradhan Mantri Awas Yojna (PAMY)

Prime Minister Narendra Modi started a mission i.e. Pradhan Mantri Awas Yojna (PAMY) make available  A Shelter for all human being of India.Under this scheme, he aims to provide every citizen of India a home under his budget. Duration of Pradhan Mantri Awas Yojna (PAMY) is Seven Years, It started from 2015 and will end on 2022.

Budget or Income plays a major role for housing affordability. We all know about the challenges that middle and low-income families facing for affordable housing. To overcome these Problems Central Government took an initiative to help people by providing them affordable houses under Pradhan Mantri Awas Yojna (PMAY).

What is Pradhan Mantri Awas Yojna (PAMY):

“Pradhan Mantri Awas Yojna” (PMAY) was launched on 25th June 2015 with the Primary Objective to providing affordable houses to Indian Citizens. Initially, Government target to build 2 Crores + houses under this Scheme.

Under this Scheme, Government targeted poor people of India like LIG (Low Income Group)and EWS(Economically Weaker Section). As well as primarily they are targeting urban areas too.


Features of Pradhan Mantri Awas Yojna (PAMY)

  • Housing Loan of up to 6 to 12 lacs for a period of 15 years or less.
  • Zero Service Tax for a unit under 60 Sqmt (Carpet area as per RERA). Eligible as per GOI service tax mega exemptions notification 25/2012-ST.
  • Subsidy Benefit of 6.5% interest rate on housing loans.


The beneficiaries of the scheme are

  • Families comprising of husband, wife and unmarried children – they should not own a pucca house in his/ her name or in the name of any member of the family, in any part of India
  • Economically Weaker Section (EWS), whose annual household income is up to Rs. 3 lakh
  • Low Income Group (LIG) whose annual household income is above Rs.3 lakh and up to Rs. 6 lakh
  • The House constructed/acquired should be in the name of the female head of the household or in the joint names of male head of the household and his wife. Only in cases, where there is no adult female member of the family, the house can be in the name of a male member of the household.


An Affordable Housing Project selling Flats under Pradhan Mantri Awas Yojna (PAMY) The Palm Village. The location of this project is Noida Extension Price range starts from 9.5 Lac and end On 19 Lac. They offer Studio flats, 1 BHK, 1 BHK+Store and 2 BHK.

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