What Is PMAY? Pradhan Mantri Awas Yojana Explained

Pradhan Mantri Awas Yojana (PMAY) is a flagship initiative by the Government of India aiming to provide affordable housing to urban and rural poor, economically weaker sections (EWS), low income groups (LIG), and middle income groups (MIG). ### Key Highlights: - **Credit Linked Subsidy Scheme (CLSS)**: Interest subsidy on home loans for eligible first-time homebuyers. - **Eligibility**: The applicant or family members must not own a pucca house anywhere in India. - **Beneficiary Categories**: EWS, LIG, MIG-I, and MIG-II based on annual household income.