Explore affordable housing in India, from Pradhan Mantri Awas Yojana (PMAY) to state schemes. Understand key challenges, government policies, and future solutions shaping low-cost housing for EWS, LIG, and MIG groups in India's growing cities.

The Rural Development Ministry allocated 3.8 million houses under PMAY-G for FY25, part of a 5-year plan to build 20 million homes and transform rural housing in India.

Housing finance firms (HFCs) want the government's Credit Risk Guarantee Fund Trust for Low-Income Housing reformed. The idea aims to enhance house loan guarantee cover to ₹25 lakh, up from the present maximum of ₹5 lakh, as per sources.

To promote affordable housing in India, the government has quadrupled the financial allocation to ₹10 lakh crore under the PMAY Urban 2.0 scheme. This extra funding is intended to boost affordable housing, especially for individuals relocating to cities for better jobs.

Mumbai: Leasehold housing societies can now convert to freehold for a fraction of the Ready Reckoner (RR) fee. The state has granted leasehold housing societies this concession, analogous to collector's land (class 2 occupation).

The Indian Finance Ministry has extended PMAY-G funds till September 2024 to build 3.5 million rural dwellings. This prolongation is part of the government's pursuit of "housing for all" by March 2024.

The government's newest proposal in the Interim Union Budget for 2024-25 offers a comprehensive strategy to empower worthy middle-income people. Tenants in chawls, slums, and unauthorised colonies are being offered a chance to buy or build their own houses. A wider approach to improve quality of lif

Indian real estate is hopeful for major improvements when Finance Minister Nirmala Sitharaman presents Budget 2024. The business anxiously awaiting affordable housing definition extension, industry classification, and tax benefits for homebuyers and developers.

A large proportion of urban migrants live in slums, informal settlements and unauthorized colonies, in order to save rental costs. They spend a substantial time commuting to their workplaces either by walking or cycling to reduce the travel expenses.

PMAY (Urban) is built for people living in urban centers across the world, including slum dwellers, to be affordable in terms of accommodation. It is anticipated that demand for slum houses will reach up to 18 million by 2022.

Pradhan Mantri Awas Yojana application form 2021 can be filled online or offline to avail of the benefits of the PM housing scheme.

In 2015, the scheme was developed with a mission “Housing for All”, PMAY or Pradhan Mantri Awas Yojana was initiated with an aim to provide shelter for about 20 million people by 2022.