Pradhan Mantri Awas Yojana (PMAY) is a major initiative launched by the Government of India in 2015 with the mission to provide "Housing for All" by the year 2022 (the mission has since been extended). The scheme is implemented by the Ministry of Housing and Urban Affairs (MoHUA) for urban areas (PMAY-U) and the Ministry of Rural Development for rural areas (PMAY-G). The PMAY Calculator is a functional tool offered on the official portal and by various financial institutions to help citizens from economically weaker sections, low-income groups, and middle-income groups determine the subsidy amount they can receive on their home loan interest, thereby making housing more affordable.

Founded in

India