The Union Housing and Urban Affairs Ministry in reply to an RTI informed that a subsidy of more than Rs.12,000 crore is disbursed to the home buyers till March. This financial release was made under the Credit Linked Subsidy Scheme [CLSS] launched by the Union Government in the year 2015.
Prime Minister Narendra Modi launched this scheme with the aim to offer Housing for All by 2022 and thus a provision was also made to offer a subsidy to the financially weak applicants. The Union Government offers a subsidy of Rs. 2.67 lacs to the applicants on the home loan that deduct the outstanding principal of the loan under the Credit Linked Subsidy Scheme (CLSS).
In the reply to RTI, the Union Ministry for Housing and Urban Affairs said that under the CLSS component of PMAY (U), as on March 31, 2019, interest subsidy of Rs 12,717 crore has been released across the country.
There are four components under PMAY[Urban] and those are CLSS, In Situ Slum Redevelopment, Affordable Housing in Partnership and Beneficiary Led Construction.
Recently, the Aurangabad Municipal Corporation recently organized a campaign at the Maulana Abdul Kalam Azad Research Centre in order to guide all the beneficiaries of Pradhan Mantri Aawas Yojna [PMAY] component 4. According to the sources, more than 200 beneficiaries participated in the camp.
In total, the Aurangabad Municipal Corporation has received 80,518 applications for the different components of PMAY and out of 10,842 applications that were particularly received for PMAY’s component 4 only 731 were found eligible along with all the necessary documents.
The State Government gave approval to the proposal sent by the municipal corporation for these 731 beneficiaries. In order to avail benefits of the scheme, the beneficiaries from multiple areas like Bhadkal Gate, Rauzabaug, Ganesh Colony, Juna Bazaar, Shahgunj, Baijipura, Roshan Gate, Indira Nagar, Chelipura, Mondha, Kiradpura, Shahbazar, Katkat Gatea and Noor Colony areas met.
The component 4 of the scheme allows a person to receive Rs. 2.5 lakh from the government to construct a pucca house in over 30 sq.m. This condition can only be fulfilled if the person is an Indian citizen and has a lesser annual income than Rs.3 lakh.
This amount will be granted to the beneficiaries in 5 parts and the process to the same will commence after they submit the construction permission via an architect along with the receipts for the payment of construction permission processing fee, city development fee, development charges, land development fee and betterment fee.