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Presenting Budget 2023, Union Finance Minister Nirmal Nigam has proposed a 66% increase to Rs 79,000 announced for Prime Minister's residence.
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On August 17, 2022, the Pradhan Mantri Awas Yojana-Urban (PMAY-U) waived off Credit Linked Subsidy (CLSS) till December 2024 with all verticals.
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No new accommodation, during the extension period, was to be taken up. Its additional outlay may be for completion of the existing project.
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increased by 66% to Rs 79,000 crore “given to the PMAY scheme, representing a significant increase in funding for the programme.
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This increase in funding will help the government to participate in the overall growth and development of the country in providing affordable housing to more people.
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Bankbazaar.com CEO Adil Shetty says PM Awas Yojana outlay to rise 66% to over Rs 79,000 cr.
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Pradhan Mantri Awas Yojana is good news in the affordable housing market. Eligible home owners can expect interest relief on their mortgage.
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Appropriate decisions were made with the PMAY CLSS, "for all to avail home loans from risk and housing finance firms at low interest rates.
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Individuals under PMAY-U who are covered under MIG-I and annual income is between Rs. 6 lakh for 4% subsidy and Rs. 12 lakh were eligible for a loan of Rs.