Over ₹12,000 crore subsidy disbursed to home-buyers: Housing Ministry

Subsidy of over ₹12,000 crore has been disbursed to home buyers till March under the government's Credit Linked Subsidy Scheme, the Union Housing and Urban Affairs Ministry has said in reply to an RTI query.

The Pradhan Mantri Awas Yojana (Urban), launched by Prime Minister Narendra Modi in June 2015, aims to ensure "housing for all by 2022" by providing financial assistance to beneficiaries.

Under the Credit Linked Subsidy Scheme (CLSS), the Centre provides interest subsidy of up to around ₹2.67 lakh on home loans to individuals, which reduces the principal outstanding amount of the loan.

"Under the CLSS component of PMAY (U), as on March 31, 2019, interest subsidy of ₹12,717 crore has been released across the country," the RTI reply stated.

PMAY (U) has four components -- CLSS, In Situ Slum Redevelopment, Affordable Housing in Partnership and Beneficiary Led Construction -- under which the ministry provides central assistance to beneficiaries to construct their own houses.