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Government Affordable Housing Schemes

The Government of India and the state governments offer several affordable housing schemes to curb the problem of homelessness in the country. Eligible candidates can benefit significantly from each, thereby allowing them and their families to shift to proper pucca homes.

Affordable Housing Schemes in India

Listed below are some of the affordable housing programmes in India, supported by either the State or Central Government-

  • Pradhan Mantri Awas Yojana (PMAY)
  • Pradhan Mantri Gramin Awas Yojana
  • DDA Housing Scheme
  • Rajiv Awas Yojana
  • NTR Housing Scheme
  • Tamil Nadu Housing Board Scheme
  • MHADA Lottery Scheme 

Among these, the Prime Minister housing scheme is perhaps the most popular. Here is a detailed look at some of these schemes in the country.

Pradhan Mantri Awas Yojana (PMAY)

PMAY was launched in 2015 with the goal to provide 20 million housing units to the homeless by March 2022. At the end of its first phase, more than 1 crore such houses were already constructed and allotted to beneficiaries.

PMAY is divided into two parts, namely –

  • PMAY Urban
  • PMAY Gramin

As the names of these schemes suggest, the former aims at helping urban residents acquire proper housing. The PMAY Gramin scheme, on the other hand, is concerned with providing affordable housing solutions to rural area residents.

Pradhan Mantri Gramin Awas Yojana

Under this government housing scheme, individuals or families earning up to Rs.6 lakh per year are eligible to claim benefits, such as allotment of a housing unit. Such units should feature space of at least 25 square metres. Additionally, beneficiaries would receive financial assistance of Rs.1.2 lakh if they reside in plain areas and Rs.1.3 lakh if they reside in hilly regions.

Tamil Nadu Housing Board Scheme

Tamil Nadu Housing Board Scheme or TNHB is one of the popular housing schemes in India. Under this particular programme, the Tamil Nadu state government provides apartments or flats to LIG and MIG applicants residing within the state’s borders. Such apartments are available for individuals to move in after they service a nominal amount as the initial deposit.

DDA Housing Scheme

The Delhi Development Authority Housing Scheme or DDA is a specialized offering from the Delhi government, which provides apartments to the high-income group, middle-income group and low-income group members. Special reservations are also maintained for limited families from the economically weaker section.

Rajiv Awas Yojana

Rajiv Awas Yojana looks to eliminate slums by offering legalised alternatives to slum-dwellers. Launched in 2009, this particular government housing scheme also ensures the provision of basic civic amenities and infrastructure in existing slums, thereby improving the quality of life for these residents.

NTR Urban Housing Scheme

Residents of Andhra Pradesh can turn to their state’s affordable housing programme, the NTR Urban scheme when seeking assistance related to property affordability. Beneficiaries would need to contribute just around one-third of the home loan principal amount, while the rest will be borne by the state and Central governments.

Home Loan on Housing Schemes

Only a handful of reputed financial institutions offer housing loans to scheme beneficiaries. These lenders would need to adhere to the scheme’s features and charge interest accordingly. Bajaj Housing Finance Limited is one such company, which provides home loan to affordable housing scheme beneficiaries.