CEO of National Housing Bank has made an official statement that the bank has sanctioned an amount of Rs. 3018 crore for the Credit Linked Subsidy Scheme (CLSS) of Pradhan Mantri Awas Yojana (Urban). Under the CLSS component of PM Awas Yojana Housing Scheme, all the home loan borrowers who takes housing loan can avail subsidy on home loan interest rates. PMAY U is the flagship scheme of the Modi govt. to ensure “Housing For All”.
NHB focuses on making housing credit more affordable and promotes inclusive expansion with stability in housing finance market. This institution aims to serve the housing needs of the entire population with special emphasis on low and moderate housing.
Till date, the bank has released more than 3000 crore funds for 1.4 lakh houses under PMAY – Urban (CLSS). NHB enables the people to take home loans from housing finance institutions regardless of their region and income group.
NHB Funds Distribution – PMAY (Urban) Credit Linked Subsidy Scheme
Credit Linked Subsidy Scheme (CLSS) provides interest subsidy on the purchase and on the construction of any house. CLSS component provides benefits to the people belonging to the economically weaker section (EWS), low income group (LIG), middle income group-I (MIG-I), and middle income group-II (MIG-II) category.
To ensure “Housing for All” under Pradhan Mantri Awas Yojana, NHB provides house credit to the people who wants to take home loans. The distribution of funds under the PMAY (U) Credit Linked Subsidy Scheme are as follows:-
NHB Sanction Rs. 3000 Crore – See Distribution
| Beneficiary of CLSS Scheme | Fund Allocation | Units |
|---|---|---|
| Economically Weaker Section / Lower Income Group (EWS / LIG) | Rs. 2,436 crore | 1,13,081 |
| Middle Income Group (MIG) | Rs. 582 crore | 27,862 |
| Total | Rs. 3,018 crore | 1,40,943 |
The total amount of amount sanctioned by NHB is the highest released amount under any government scheme in Independent India. People from Middle Income Groups are consistently demanding for amendments in PMAY Scheme, so govt. and nodal housing bank are ready to consider suggestions.
For the MIG (middle income group), NHB has already made 2 or 3 changes. Even NHB is ready to consider any feedback or an opportunity for the welfare of the citizens. Till date, central government has sanctioned 44.35 lakh houses for urban areas under PMAY. Out of these, govt. has started construction work on 22 lakh houses. For more details, visit the official website – nhb.org.in