PMAY Reviving and Boosting Housing Sector in India

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The affordable housing sector in India is one of the significant contributors to the country’s real estate sector. Leveraging this key fact, the Pradhan Mantri Awas Yojana (PMAY) was launched by the Government of India with a mission of bestowing the urban poor with ‘Affordable Housing’ through a credit-linked subsidy on Home Loans. Operating across four verticals – Credit Linked Subsidy Scheme (CLSS), Beneficiary Led Construction (BLC), Affordable Housing in Partnership (AHP) and In Situ Slum Rehabilitation (ISSR), the PMAY directed the scheme towards the urban poor belonging to the Economically Weaker Section (EWS), Lower Income Group (LIG) and Middle Income Groups (MIG-1 and MIG-2).

However, ever since the post-lockdown period in 2020, the Pradhan Mantri Awas Yojana has been a key driver of boosting and reviving India’s housing sector that slowed down during the lockdown. Here is a slew of initiatives taken under the Pradhan Mantri Awas Yojana in 2020 that resulted in boosting the housing sector performance:

Housing For All Mission

The Government’s ‘Housing for All’ mission under the PMAY by the year 2022 has given a boost to the affordable housing sector in India. As defined by the Government, affordable housing refers to housing units worth upto Rs. 45 Lakhs with a carpet area of 60 sqm (in metropolitan cities) and 90 sqm (in other cities and towns).

The slashing of GST rates from 8 percent to 1 percent for the affordable housing segment has helped create affordable housing demand among the economically weaker sections. Additionally, an additional outlay of Rs. 18,000 Crores allocated in the Union budget 2020-21 to the existing Rs. 8000 Crores of the Pradhan Mantri Awas Yojana has given an extra push to the mission as well as the construction activity with greater demand for cement, steel, and job opportunities in the housing sector.

CLSS Extension and Carpet Area

In a much-needed relief for the housing sector, the Finance ministry in 2020 announced an extension of the deadline for availing the CLSS scheme under the PMAY until March 31, 2021, for those with a household income between Rs. 12-18 Lakhs per annum. This move is seen to have a positive impact in reviving the real-estate sector by instilling demand amongst 2.5 Lakh MIG-1 and MIG-2 beneficiaries for affordable homes.

Further, in a move to attract more beneficiaries and propel housing demand, the carpet area for houses eligible under CLSS under the Pradhan Mantri Awas Yojana has been increased to 160 sqm from 120 sqm among MIG-1 and to 200 sqm from 150 sqm among MIG-2. This increase in carpet area shall improve the construction activity and help the housing sector march forward.

Affordable Rental Housing Complexes (ARHC)

During the 2020 lockdown period, migrant workers in the informal sector bore the brunt of uncertainty due to a lack of proper welfare schemes that could have alleviated their suffering. In light of these events, ARHC was introduced a sub-scheme under the Pradhan Mantri Awas Yojana for providing ease of living to the urban migrants engaged in the unorganised sector of the economy.

The ARHC scheme unlocks the existing vacant housing stock in urban spaces and makes them available for affordable rental purposes to the urban migrants working in the informal sector. It is implemented through private-public partnerships or purely through public entities, creating novel investment opportunities and promoting entrepreneurship in the rental housing sector through the development of ARHCs. Also, the upcoming Model Tenancy Law is expected to even out anomalies in the rental housing sector and provide a further boost to it.


The Special Window for Affordable and Mid-Income Housing Fund aims to provide priority funding to the construction projects in the affordable and middle-income segments that were stressed and stalled. The fund shall in turn provide financial relief to the developers to finish their stalled projects and consequently ensure the delivery of homes to the home buyers in the affordable and mid-income categories of the Pradhan Mantri Awas Yojana and boost overall sales in the affordable housing sector.

How to Verify Pradhan Mantri Awas Yojana List 2020

To check if you have made it to the Pradhan Mantri Awas Yojana List 2020 as an eligible beneficiary, follow the steps mentioned below:

  • Visit the official website of Pradhan Mantri Awas Yojana at (

  • Go to the ‘Search Beneficiary’ tab on the home page and click on ‘Search by Name’.

  • Enter your Aadhaar number and click on the ‘Show’ button.

  • You can now see the beneficiary details on your screen, along with your name, if a record is found.


To know more about the Pradhan Mantri Awas Yojana, you may visit Bajaj Markets, a trusted financial platform with a variety of financial products and services. Besides, if you are an eligible beneficiary under the PMAY, you can also avail of a Home Loan on Bajaj Markets and claim an interest subsidy on the availed amount. The loan documentation process is quite simple and involves minimal paperwork.


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PMAY: Pradhan Mantri Awas Yojana Scheme

Your dream of owning a home need not wait!, Pradhan Mantri Awas Yojana (PMAY) along with Bajaj Markets will make your dream come true And the best part! With PMAY scheme, you can get a significant subsidy on your Home Loan interest amount.