What happened: MoHUA launches PMAY-U 2.0 to add 1 crore eligible urban beneficiaries
The Ministry of Housing and Urban Affairs (MoHUA) launched Pradhan Mantri Awas Yojana - Urban 2.0 (PMAY-U 2.0) ‘Housing for All’ for implementation in urban areas across the country from 01.09.2024. MoHUA stated that PMAY-U 2.0 is designed to support 1 crore additional eligible beneficiaries by building on learnings from earlier PMAY-U implementation.
PMAY-U 2.0 is implemented through four verticals:
- Beneficiary Led Construction (BLC) - Affordable Housing in Partnership (AHP) - Affordable Rental Housing (ARH) - Interest Subsidy Scheme (ISS)
MoHUA also clarified that PMAY-U and PMAY-U 2.0 follow a demand-driven approach, with no fixed target set by the Government.
Background and earlier position: PMAY-U launched in 2015 and revised for PMAY-U 2.0
Related current affairs
- PMAY-U milestone: 1.25 crore houses sanctioned, 1 crore delivered; 8th CSMC meeting approves 2.09 lakh houses under PMAY-U 2.0
- Implementation status of Pradhan Mantri Awas Yojana–Urban (PMAY-U) and launch of PMAY-U 2.0
- PMAY-U 2.0 Affordable Rental Housing (ARH) vertical: models, EoI and Jammu & Kashmir encouragement
- PMAY-U 2.0 Interest Subsidy Scheme (ISS): eligibility, registration flow and scope of assistance