PMAY-U 2.0: Kerala's 30,000 Eligible Beneficiaries to Receive ₹4 Lakh Housing Assistance

The government of Kerala has approved the second phase of the Pradhan Mantri Awas Yojana-Urban 2.0 (PMAY-U 2.0), which covers about 30,000 eligible beneficiaries who will get ₹4 lakh each in housing assistance, as per the Times of India news report. 

This scheme has been approved by the Kerala government to get an additional ₹450 crore central assistance from the Centre. 

Here’s Funding Details and Eligibility Criteria for Beneficiaries  

The news report indicates, the funding pattern for the second phase of Kerala’s PMAY-U 2.0 has a special condition. Under this scheme, the beneficiaries who are homeless would get ₹1.50 lakh assistance from the Centre and ₹1 lakh from the state. The balance amount of ₹1.50 lakh will be borne by the beneficiary or the municipality to make up the total amount of ₹4 lakh. 

Moreover, as per the new norms, the beneficiary will be liable to bear 25% of the total project cost under PMAY-U 2.0. 

Comparison with PMAY-Urban LIFE Scheme 

The Government of Kerala has a different housing scheme for land-owning homeless people known as PMAY-Urban LIFE. Under PMAY-U 2.0 scheme, every eligible beneficiary will get ₹4 lakh in assistance. However, under the LIFE scheme, ₹1.50 lakh will be given from the Centre, ₹50,000 from the state, and ₹2 lakh from the local municipality. 

Implementation Timeline and Agreements 

The Kerala state government will enter into a Memorandum of Understanding (MoU) with the Centre to implement the second phase of PMAY-U 2.0. It is worth mentioning that the Kerala cabinet approval is necessary to get the central assistance of ₹450 crore. 

The first phase of the scheme is expected to be completed by September 30, 2026, and the second phase will be launched immediately after the completion of the first phase. 

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Conclusion 

The Cabinet approved the second phase of Kerala’s PMAY-U 2.0, under which 30,000 beneficiaries will get ₹4 lakh each in housing assistance. The total amount of ₹4 lakh will be given to the beneficiaries under PMAY-U 2.0. Under this scheme, the beneficiaries would get ₹1.50 lakh assistance from the Central government, ₹1 lakh from the State, and the remaining ₹1.50 lakh from the local municipality or the beneficiary. 

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