Pradhan Mantri Awaas Yojana-Urban (PMAY-U) was launched in 2015 to provide affordable housing to poor and middle-class families. The revamped PMAY-U 2.0 was launched in 2024, and the scope was expanded to construct, purchase, or rent a house in cities. PMAY-U 2.0 has 4 main verticals. Beneficiary led construction (BLC) Affordable housing in partnership (AHP)… Continue Reading
To promote affordable housing, the Government had launched Pradhan Mantri Awaas Yojana (PMAY) in 2015. Under PMAY, among other schemes, Economically Weaker Section (EWS) and Low Income Group (LIG) were to be given interest rate subsidy on their housing loans. The interest subsidy was to be provided under Credit Linked Subsidy Scheme (CLSS) under PMAY. EWS… Continue Reading
Recently, Union Cabinet has decided to increase the cap for availing 1% subsidy on home loans. For poor and middle class people to whom owning a house is a big dream, it will be a relief as it will partially compensate for the ever increasing interest rates. The subsidy would now be available for home… Continue Reading