With reference to the Pradhan Mantri Awas Yojana (PMAY), consider the following statements:

1. PMAY aims to provide affordable housing to all eligible beneficiaries by 2024.

2. Under PMAY, both urban and rural areas are targeted for housing development.

Which of the statements given above is/are correct? 

1
 1 only 
2
 2 only 
3
Both 1 & 2 
4
Neither 1 nor 2

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