Pradhan Mantri Awas Yojana – Urban & PMAY-U 2.0 : Interest subsidy scheme for EWS, LIG and MIG Families
GOVERNMENT OF INDIA
MINISTRY OF HOUSING AND URBAN AFFAIRS
LOK SABHA
UNSTARRED QUESTION NO. 1903
TO BE ANSWERED ON JULY 31, 2025
INTEREST SUBSIDY SCHEME FOR EWS, LIG AND MIG FAMILIES
NO. 1903. DR. GUMMA THANUJA RANI:
Will the Minister of HOUSING AND URBAN AFFAIRS be pleased to state:
(a) the details of the Interest Subsidy Scheme for Economically Weaker Sections (EWS), Low-Income Group (LIG) and Middle-Income Group (MIG) families including the number of beneficiaries and the total subsidy disbursed so far;
(b) the process for applying and receiving the interest subsidy on home loans and the mechanisms in place to ensure timely disbursement;
(c) whether there is any criteria for redeemable housing vouchers for purchasing houses in private projects and if so, the details thereof; and
(d) the number of beneficiaries who have used redeemable housing vouchers along with its impact on housing affordability in urban areas?
ANSWER
THE MINISTER OF STATE IN THE MINISTRY OF HOUSING AND URBAN AFFAIRS
(SHRI TOKHAN SAHU)
The Ministry of Housing and Urban Affairs (MoHUA) has been implementing the Pradhan Mantri Awas Yojana – Urban (PMAY-U) since June 25, 2015, with the goal of providing durable pucca houses equipped with essential civic amenities to eligible urban beneficiaries across India. The scheme operates through four key verticals: Beneficiary Led Construction (BLC), Affordable Housing in Partnership (AHP), In-Situ Slum Redevelopment (ISSR), and the Credit Linked Subsidy Scheme (CLSS).
While the CLSS vertical concluded on March 31, 2022, the remaining verticals have had their implementation period extended until December 31, 2025, to facilitate the completion of sanctioned housing projects. Under the CLSS, which was executed through Central Nodal Agencies like the National Housing Bank (NHB) and the State Bank of India (SBI), a substantial interest subsidy of ₹58,868.4 crore was disbursed to over 25 lakh beneficiaries.
In a significant revamp of the program, MoHUA launched PMAY-U 2.0, effective September 1, 2024, aimed at facilitating housing for an additional one crore eligible beneficiaries in urban areas over the next five years. This updated scheme introduces new verticals such as Affordable Rental Housing (ARH) and Interest Subsidy Scheme (ISS), alongside the existing ones.
Under the ISS vertical, beneficiaries with an income of up to ₹9 lakh can avail an interest subsidy of up to ₹1.80 lakh on home loans for properties valued up to ₹35 lakh. The subsidy is structured to be released over five years, contingent upon certain loan conditions. As of now, ₹31.65 crore has been allocated to 8,357 beneficiaries under this vertical.
Additionally, private developers are encouraged to engage in projects specifically for the Economically Weaker Section (EWS) or mixed housing developments under the AHP vertical. Successful projects receive incentives and support through Redeemable Housing Vouchers (RHV) for EWS beneficiaries, with one project in Maharashtra currently in the initial stages of construction, proposing 1,951 dwelling units.
Overall, PMAY-U and its subsequent iteration, PMAY-U 2.0, represent a comprehensive approach to addressing urban housing challenges in India, promoting affordability and accessibility for millions.
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