What are the Affordable Housing Schemes Available in India

Various affordable housing schemes have been introduced in India in recent years as a result of the combined efforts of the Central Government and the State Governments. With the current economic situation, these government programs will assist you in avoiding the excessive charges offered in the sector while providing superior construction quality.

The Government of India encourages home ownership through incentives and benefits of all kinds. In the recent past, the Government of India has launched affordable housing schemes or low-cost housing schemes to aid people with low income in buying a home. These government housing schemes elevate the overall standard of living and help people with moderate income in achieving their dreams. They are regulated either by the central or the state government. Potential homeowners can fulfill this goal with home loan help. Government home loan scheme can assist in owning the desired home.

Current Government Schemes

You can benefit from the below stated govt housing schemes:

1. Pradhan Mantri Awas Yojana (PMAY Urban):

PMAY aims at extending housing for everyone who does not have a home, including slum-dwellers by year 2022. Under this mission, the female head of the family must be the owner or the co-owner of the property. 114.02 houses have been sanctioned, out of which, 54.45 houses have been completed already. The applicant family should not own an existing pucca house. There are currently 2 categories under PMAY - Economically weaker section (EWS) and Lower income group (LIG). Families earning an annual income up to INR 3 lakh fall under EWS category. Households earning an annual income between INR 3 lakh to INR 6 lakh belong to the LIG category. EWS and LIG can get houses up to 60 sq. mt. You can apply for the PMAY scheme both online and offline.

SMFG Grihashakti offers convenient home loans under this scheme. You can get the desired loan amount with flexible repayment and minimal documents. You can also avail of the PMAY interest subsidy when you take this loan. Please note that the subsidy will depend on the applicant’s eligibility as well as the NHB’s policy at the time of application. Please check the latest news to know if this subsidy is still available.

2. Pradhan Mantri Awas Yojana – (PMAY Gramin)

PMAY Gramin was originally launched as Indira Awaas Yojana. This is a scheme devised to help homeless families and provide them with pucca houses that include all the required basic amenities by 2024. The PMAY Gramin scheme is one of the many government initiatives aimed at eliminating poverty. This scheme offers financial support to poor families in home construction, and shares the cost with the state. Families living in kutcha or dilapidated houses will get his assistance. The minimum house size is 25 sq. feet carpet with basic amenities like electricity, drinking water, and LPG gas connection will also be attempted. Households with no adult members, female headed households with no male adult, households with no literate adults are eligible for this scheme.

3. Delhi Development Authority (DDA) Housing Scheme

Launched in December 2018, the DDA housing scheme offers apartments for high to low income groups, along with certain extra benefits for the EWS (economically weaker section) group. You have to be registered under Housing Registration Schemes under the specific categories. Flats are rolled out on a first-cum-first basis. Final allotment is made based on eligibility criteria. You become eligible at 18 years, you should not be owning a residential flat or plot in the urban area of Delhi in your name or your spouse’s name or your dependent’s names, which is larger than 67 sq mt. You can apply via a bank on DDA’s website and by registering. Then you log into the portal, fill up the application form, and click on submit. Once you are selected, you need to submit documents like your PAN card, Aadhaar card, voter’s ID, bank statements, and ITR.

4. Tamil Nadu Housing Board Scheme (TNHB)

Tamil Nadu Housing Board Scheme offers shelter to people from various income groups like EWS, LIG, MIG, and HIG. Over 4.3 lakh units have already been supported through this scheme. Citizens from low-income groups are encouraged to purchase flats economically.

You need to be a native of Tamil Nadu who is 21 years of age during the time of allotment. You should not be owning a flat or plot through TNHB. You can select your flat and then apply at the city division by paying the required registration fee.

5. Maharashtra Housing and Area Development Authority (Mhada) Lottery Scheme

Mhada lottery scheme is meant for buyers from various income groups in Mumbai, Pune, Konkan, and Aurangabad. However, a fixed portion is reserved for the poorer sections of the population. Salaried resident of Maharashtra above 18 years with valid documents are eligible. Categories include LIG with income of INR 25,001–INR 50,000, MIG with income of INR 50,001–INR 75,000 MIG, and HIG with income of INR 75,000 and above. You can visit the official MHADA website for the city for application.

6. Rajiv Gandhi Awas Yojana Housing Scheme

The Rajiv Gandhi Awas Yojana Housing Scheme is one of the best Government-led initiatives in the favor of the socially and economically weaker sections of our society, in the state of Karnataka. It was introduced in 2000 to not only provide affordable housing but also ensure that cost-efficient construction methods are implemented and advanced technologies are applied to increase transparency in the process.

The online web portal is called Ashraya and it equips users with an online mode of registration. It contains exhaustive information about the scheme and explains the eligibility criteria in detail.

7. NTR Housing Scheme

The NTR housing scheme in Andhra Pradesh was introduced in 2016 as part of PMAY in honor of the 125th birth anniversary of Dr. B. R. Ambedkar. The NTR Gramin scheme is for rural beneficiaries while the NTR Urban BLC is for urban residents. Under this scheme, flat sizes touch 450 sq. ft. in area and INR 8,00,000 in price. The benefits are that carpet area sizes of 300 sq. ft. would be as affordable as INR 5,62,000 and that at 365 sq. ft. would cost only INR 6,75,000. All houses will be given electricity facilities like 9W LED bulbs, 20W LED tube lights, and powerful fans.

8. Rajiv Awas Yojana (RAY)

The Rajiv Awas Yojana (RAY) is a housing scheme launched by the Government of India in June, 2011. It is a part of the Pradhan Mantri Awas Yojana (PMAY) and aims to provide affordable housing for all, with a specific focus on slum dwellers and the urban homeless. It promotes public transport and non-motorized transport to reduce dependence on private vehicles and provide basic services like water, sanitation, and solid waste management in slums and informal settlements.

9. Haryana Housing Board (HHB)

The Haryana Housing Board (HHB) is a government agency responsible for the planning, construction, and management of affordable housing in the Indian state of Haryana. The organisation is in charge of the state's 6200 housing sites. Sirsa, Karnal, Rohtak, Faridabad, and other cities have various plots distributed among them. The scheme is open for all categories of citizens like General, EWS, LIG, MIG, HIG, and Janta Flats, etc.