PMAY stands for Pradhan Mantri Awaas Yojana (Gramin) / Indira Awas Yojana.
The Pradhan Mantri Awaas Yojana is a Government of India initiative to provide affordable housing to the urban poor, with a target of building 2 crore affordable houses by March 31, 2022.
The main objective of the PM Awaas Yojana Scheme is housing that is affordable for all by the year 2022.
Scheduled castes and scheduled tribes
Economically Weaker Section (EWS) of the society
PMAY is applicable to borrowers belonging to the
1. Economically Weaker Section (EWS – with a maximum annual family income of Rs. 3,00,00)
2. Low Income Group – (LIG – with maximum annual family income of Rs. 6,00,000) and
3. Middle Income Groups (MIG – I & II – with a maximum annual family income of Rs. 18,00,000)
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