Mumbai: The houses being built in rural areas of the country under the Pradhan Mantri Awas Yojana (PMAY) will not remain incomplete due to a paucity of money. To build these houses, a loan of up to Rs 70,000 will be available.
The Rural Development Department of the Central Government is finalizing the draft. Under the credit guarantee scheme, the concerned people will get this financial assistance. The role of Self Help Groups (SHGs) will be important in this. Beneficiaries can take this loan from banks on the guarantee of SHGs. Under PMAY, the target is to build 2.72 crore houses in the country by March 2024.
Under the scheme, the beneficiaries of plain areas get financial assistance of Rs. 1.20 lakh, and for hilly areas Rs. 1.30 lakh under the scheme to build infrastructure houses. This cost is shared by the Central and State Governments in the ratio of 60:40. 2.44 crore houses have been sanctioned under the scheme.
