National Workshop On Pradhan Mantri Awas Yojana – Urban 2.0: A Step Towards ‘Housing for All’

On 14th November 2024, the Ministry of Housing and Urban Affairs (MoHUA), New Delhi, in coordination with the National Housing Bank (NHB), planned a national workshop in New Delhi about the effective implementation of Pradhan Mantri Awas Yojana 2.0 and its Interest Subsidy Scheme (ISS) vertical. Part of the signing ceremonies were MoUs between NHB and 147 Primary Lending Institutions (PLIs) to implement the government scheme.

Key Highlights Of The Workshop

The event saw the participation of more than 250 participants, such as representatives from banks, housing finance companies, and other financial institutes. Even highly ranked officials of the MoHUA, Ministry of Finance and NHB attended the event as well.

Vision for ‘Housing for All’: Hon'ble Minister Shri Manohar Lal asserted to provide genuine beneficiaries such assistance so that every citizen has the opportunity to live in pucca houses and this keeps in mind the vision of Developed India by 2047.

Global Recognition of PMAY-U: The Secretary of MoHUA, Sri Srinivas Katikithala pointed out that the scheme of PMAY-U has made achievements towards the fast emergence of one of the most significant housing programmes for the poor in the world.

Focus on ISS Vertical:

• Offers interest subsidies for housing loans taken by families falling in the EWS, LIG and MIG categories.

• It targets 1 crore urban families for assistance with subsidies not exceeding up to ₹ 1.80 lakhs.

Read More: House Construction Subsidies For Scheduled Castes

Features of PMAY-U 2.0

The government scheme was launched in September 2024 to empower poor and middle-class families by providing them with secure housing and promoting sustainable urban development.

• Four Vertical Approach: Beneficiaries can select the verticals as per their eligibility category and the vertical ISS is directed towards providing interest subsidies to the beneficiaries.

• Implementation Partners: The ISS vertical will be operational through CNAs like NHB, HUDCO, and SBI with PLIs for disbursing the subsidies to the end beneficiaries.

Unified Web Portal for Seamless Implementation

To make the process easier and faster, a unified web portal was introduced by MoHUA. Here are the key features of this portal:

• Allows beneficiaries to apply for the government scheme and track application status.

• Streamlines data exchange among stakeholders.

• Ensures faster approval and subsidy disbursement.

• Facilitates effective monitoring and evaluation of the scheme.

The portal is accessible to all stakeholders and ensures transparency in implementation. Beneficiaries can apply at the PMAY-U Portal.

Achievements and Future Goals

CLSS has been a blessing for several families to afford their homes. Below are its aims and achievements under PMAY-U and its prospects:

• Credit Linked Subsidy Scheme (CLSS): The earlier CLSS vertical under PMAY–U had reached nearly 25 lakh families which evinces its success.

• Target for PMAY-U 2.0: Provision of pucca housing for 1 crore urban beneficiaries across the length and breadth of the nation.

Signing of MoUs

Among the activities that marked the progress in the implementation of the ISS vertical was the signing of MoUs between NHB and 147 PLIs from almost all jurisdictions.

Read More: RERA: Guide To Safe Real Estate Investments!

Conclusion

The workshop acted as a forum for the stakeholders to share ideas and plan further steps on providing 'Housing for All’ under PMAY-U 2.0. The strength of the project lies in its orientation towards integrating the social and physical dimensions of urbanization to uplift millions of urban households with adequate housing and improved living conditions.

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