Housing Units under PMAY
Img : House-complex

Under Central Government’s flagship program PMAY [Pradhan Mantri Aawas Yojna] a housing finance firm HDFC recently disbursed more than Rs 1,100 crore subsidy to 51,000+ home buyers.

According to the firm, HDFC sanctioned a loan of more than Rs 9,800 crore under PMAY-Credit Linked Subsidy Scheme (CLSS), to loan borrowers who belonged to EWS (Economically Weaker Section), LIG (Low Income Group) and Middle Income Group (MIG) category.

The official statement of the company also said that during the quarter ended September 30, 2018 approved 37% of home loans in volume terms and 18 percent in value terms to customers from the EWS and LIG segment. On an average, the company has been approving 8,300 loans on a monthly basis to the EWS and LIG segment, with monthly such average approvals at approximately Rs 1,354 crore, the official statement said.

The average home loan to the EWS and LIG segment stood at Rs 10.1 lakh and Rs 17.6 lakh respectively, it added. The Credit-linked Subsidy Scheme [CLSS] was introduced in June 2015 under PMAY for home loans to customers from the EWS, LIG and was extended to Middle Income Group (MIG) from January 2017.

Earlier, the approval of 2,15,083 more housing units increase the total number of houses that are being funded under the PMAY (U) across the country and they total to 62,53,731.

As per the official, West Bengal got 1,00,704 housing units while 50,271 houses were sanctioned for Uttar Pradesh, followed by 41,707 for Andhra Pradesh, 20,499 for Maharashtra, 1,425 for Nagaland and 477 for Dadra and Nagar Haveli.