Housing finance firm HDFC said Sunday it has disbursed over Rs 1,100 crore subsidy to over 51,000 customers under the government's flagship scheme Pradhan Mantri Awas Yojana (PMAY).
Housing finance firm HDFC said Sunday it has disbursed over Rs 1,100 crore subsidy to over 51,000 customers under the government's flagship scheme Pradhan Mantri Awas Yojana (PMAY).
HDFC has provided loans of over Rs 9,800 crore under PMAY-Credit Linked Subsidy Scheme (CLSS), to these customers belonging to EWS (Economically Weaker Section), LIG (Low Income Group) and Middle Income Group (MIG) category, the housing finance firm said in a statement.
It further said HDFC during the quarter ended September 30, 2018 approved 37 per cent of home loans in volume terms and 18 per cent in value terms to customers from the EWS and LIG segment.
The company on an average 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, it 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.
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 Maharashtra cabinet approved changes in the Public- Private Partnership (PPP) scheme under the Pradhan Mantri Awas Yojana. As per the changes, state-run housing agency MHADA will collaborate with private landowners to implement the Pradhan Mantri Aawas Yojana (PMAY) in urban areas.
Private landowners having more than 10 acres of land are eligible to participate in the scheme. Of the total housing units 35% will be given to the land owners and 65% to MHADA. The land owners will be given the option of taking either the housing units or cash.
This model will help construct a huge stock of housing units and sell them at an affordable rate through lottery.
According to the amended scheme, those who have non-litigated and title clear plots in the Mumbai Metropolitan Region, CIDCO, MSRDC, NAINA, Pune, Nagpur, and Nashik-Aurangabad municipal limits, can approach MHADA or the authorities concerned to develop their plots.
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 "HDFC disburses Rs 1,100 crore subsidy to 51,000 home buyers under PMAY")
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