Pradhan Mantri Awas Yojana-Urban extended till December 2024: All you need to know

The Union Cabinet, chaired by Prime Minister Narendra Modi, has extended the Pradhan Mantri Awas Yojana-Urban (PMAY-U) scheme till December 31, 2024. According to an official statement, the financial assistance will be provided for the completion of already sanctioned 122.69 lakh houses till March 31, 2022.

The flagship PMAY-U housing scheme is a flagship programme being implemented by the government which aims at providing pucca houses to all eligible beneficiaries in the urban areas across the country. 

Launched in June 2015, the original deadline for the scheme - ‘Housing for All’ Mission - was March 2022. The scheme covers the entire urban area of the country, i.e., all statutory towns as per Census 2011 and towns notified subsequently, including Notified Planning/ Development Areas.

The scheme is being implemented through four verticals: Beneficiary Led Construction/ Enhancement (BLC), Affordable Housing in Partnership (AHP), In-situ Slum Redevelopment (ISSR) and Credit Linked Subsidy Scheme (CLSS).

Based on the request of states and Union territories, the Union Cabinet, chaired by Prime Minister Narendra Modi, decided to extend the implementation period of PMAY-Urban till December 31, 2024, the statement stated.

Under the Modi government, the issue of providing houses to all eligible urban dwellers in saturation mode was brought into focus and the scheme of PMAY-Urban was conceptualised, it said.

In 2017, the original projected demand was 100 lakh houses. Against this demand, 102 lakh houses have been grounded/under construction, the statement said.

"Further, out of these, 62 lakh houses have been completed. Out of the total sanctioned 123 lakh houses, the proposals of 40 lakh houses were received late (during last 2 years of scheme) from the states/UTs, which require another two years to complete them," the government said in the statement.

Therefore, based on the requests from the states and UTs, Union Cabinet decided to extend the implementation period of PMAY-U till December 31, 2024, the statement added.

Central assistance approved since 2015 is Rs 2.03 lakh crore against Rs 20,000 crore in 2004-2014, it said, adding that up to March 31, 2022, central assistance/subsidy of Rs 1,18,020.46 crore has already been released and Rs 85,406 crore will be released till December 31, 2024.

The continuation of the scheme up to December 31, 2024 will help in completion of already sanctioned houses under BLC, AHP and ISSR verticals.