PMAY-credit linked subsidy scheme
The Pradhan Mantri Awas Yojana (PMAY) has been introduced by Prime Minister, Narendra Modi on 1 June 2015. PMAY Scheme is an initiative provided by the Government of India which aims at providing affordable housing to the urban poor. The mission is to provide housing for all by the year 2022, by that time Nation completes 75 years of its Independence.
If you are looking to own a home of your own, under the Pradhan Mantri Awas Yojana (Urban), PMAY (U) scheme, here are few important things to consider about the PMAY scheme, even while you arrange the amount for down payment, decide the location and the home loan lender.