The PMAY scheme aims to provide affordable housing for the weaker sections of the society. People who do not own a house of their own can get a house from this Central Government scheme.
As per the Pradhan Mantri Awas Yojana 2019, the CSMC has taken a decision in the meeting held on 25th February.
The meeting highlights on several factors regarding the PMAY scheme and the projects that have to be completed by 2020.
Highlights of the CSMC:
  • The approved project was 1243 across the 18 states in India.
  • Project cost stands at 33,870 crores with 8,404 as the Central assistance.
  • The pucca house number is over 79 lakh as approved by the government.
  • So far completed project under the Pradhan Mantri Awas Yojana 2019
Home Loan Benefit For PMAY
In order to build houses under this scheme, the credit-linked subsidy scheme is the most beneficial part. It has been launched by the Government of India to support the construction of houses for the weaker section.
One can avail home loan from a bank or an NBFC as per the category one falls such as the EWS, LIG and MIG I and II. with the help of the CLSS or the credit-linked subsidy loan, one can avail loan from the lender with low-interest rate and can also save a good amount of money. The subsidy available on the loan amount is as per the annual income of an individual.
To know more on this, talk to your lender for a home loan and also check your PMAY eligibility criteria.