Housing Ministry: Over 12,000 Crore Subsidy Disbursed To Home Buyers

pmay subsidyUnder the government’s Credit Linked Subsidy Scheme, subsidy of over 12,000 crore has been disbursed to home buyers till March according to the statement of Union Housing and Urban Affairs Ministry reported to RTI in query.

The Pradhan Mantri Awas Yojana was launched by our honorable Prime Minister, Narendra Modi in June 2018. The vision and mission behind this scheme was very strong and aimed to ensure “housing for all till 2022”. The scheme provides financial assistance to beneficiaries.

Under this, Credit Linked Subsidy Scheme the center gives interest subsidy of approx. 2.67 lakh to individual for home loans which reduce principal outstanding amount of the home loans. And according to the reports by RTI, “Under this CLS scheme of PMY, as on 31st March 2019 interest subsidy of 12,717 crore has been disbursed among the home buyers across the country.”

PMAY has four components which includes – CLSS, In Situ Slum Redevelopment, Affordable Housing Partnership and Beneficiary Led Construction, under which the ministry provides central assistance to beneficiaries to conduct their own houses.

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