Tips for senior citizens to avail home loan
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In a recent statement released by Housing and Urban Affairs Ministry, it has been said that so far a subsidy of over Rs 5,000 crore has been disbursed to over two lakh home buyers under the government’s Credit Linked Subsidy Scheme (CLSS). The announcement was done during a meeting taken by Housing Secretary Durga Shanker Mishra on Pradhan Mantri Awas Yojana (Urban) with banks and housing finance companies a few days back.

Giving more information on the same, Durga Shanker Mishra said, “A total of Rs 5,008 crore of housing loan subsidy has been disbursed to 2.3 lakh CLSS beneficiaries till now under the economically weaker section (EWS), low-income group (LIG) and middle-income group (MIG) categories,”

“An arrangement of Rs 60,000 core under National Urban Housing Fund (NUHF) has been provided as Extra Budgetary Resources (EBR) especially for the PMAY (U) in addition to the budgetary grants to meet the housing demand in the country,” Mishra added.

During the meeting, he also urged the bankers and the Central Nodal Agencies (CNAs) to provocatively come forward in helping the potential beneficiaries realise their dream of having a house of their own.

The Pradhan Mantri Awas Yojana (PMAY) has been introduced by PM Narendra Modi on 1 June 2015. PMAY (U) Scheme is an initiative provided by the Government of India which aims at providing affordable housing to the urban poor. The mission of this initiative is to provide housing for all by the year 2022. Under the Credit Linked Subsidy Scheme (CLSS), beneficiaries under PM Awas Yojana are eligible for interest subsidy if they avail a home loan to purchase or construct a house.