What are the key features of the Pradhan Mantri Awas Yojana - Urban (PMAY-U) scheme
Get an explanation about the PMAY-U scheme and its significance.
The Pradhan Mantri Awas Yojana - Urban (PMAY-U) scheme is a flagship housing scheme by the Government of India aimed at providing affordable housing to urban poor.
Key features of PMAY-U scheme:
- Subsidized interest rates for home loans
- Credit linked subsidy scheme for Economically Weaker Sections (EWS), Low-Income Groups (LIG), and Middle-Income Groups (MIG)
- Construction of affordable houses by beneficiaries or through private developers
- Promotion of affordable housing through public-private partnerships
- Focus on creating sustainable and inclusive urban development
- Addresses the housing needs of urban poor
- Promotes affordable housing and homeownership
- Boosts economic growth by generating employment in the construction sector
- Improves living conditions and overall quality of life in urban areas
- Enhances urban infrastructure and development
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