The Union Cabinet chaired by Hon’ble Prime Minister Shri Narendra Modi approved Pradhan Mantri Awas Yojana-Urban 2.0 under which financial assistance will be provided to 1 crore urban poor and middle-class families through States/Union Territories (UTs)/PLIs to construct, purchase or rent a house at an affordable cost in urban areas in 5 years starting from 1st Sept 2024. PMAY-U 2.0 is one of the major flagship programmes being implemented by Government of India to provide all-weather pucca houses to all Eligibility beneficiaries in the urban areas. The Government assistance under PMAY-U 2.0 will be upto 2.50 lakh per unit.

In pursuance of the Hon’ble Prime Minister’s vision, PMAY-U 2.0, with an investment of ₹ 10 lakh crore, will address the housing needs of one crore families, ensuring that every citizen leads a better quality of life. The central assistance of 2.50 lakh crore will be provided ₹ under the Scheme.

TThe contours of PMAY-U 2.0 have been designed on the basis of learnings of PMAY-U scheme, global best practices/ benchmarks and outcomes of series of consultations with multiple stakeholders including States/UTs, Banks, Housing Finance Companies, Private Sector etc.

Preference under the Scheme will be given to Widows, single women, Persons with Disabilities, Senior Citizens, Transgenders, persons belonging to Scheduled Castes/Scheduled Tribes, Minorities and other weaker and vulnerable sections of the society. Special focus will be given to Safai Karmi, Street Vendors identified under the PM SVANidhi Scheme and different artisans under the Pradhan Mantri-Vishwakarma Scheme, Anganwadi workers, Building and Other Construction Workers, residents of slums/chawls and other groups identified during operation of PMAY-U 2.0.

PMAY-U 2.0 will be implemented through four verticals which will provide flexibility to the beneficiaries/States/UTs in choosing different options available under the Scheme.