HDFC disburses Rs 1,100 cr subsidy to 51,000 home buyers under PMAY scheme

HDFC has provided loans of over Rs 9,800 crore under PMAY-Credit Linked Subsidy Scheme (CLSS)

Press Trust of India November 19, 2018 09:54:30 IST
HDFC disburses Rs 1,100 cr subsidy to 51,000 home buyers under PMAY scheme

New Delhi: Housing finance firm HDFC said on Sunday it has disbursed over Rs 1,100 crore subsidy to over 51,000 customers under the government's flagship scheme Pradhan Mantri Awas Yojana (PMAY).

HDFC has provided loans of over Rs 9,800 crore under PMAY-Credit Linked Subsidy Scheme (CLSS), to these customers belonging to EWS (Economically Weaker Section), LIG (Low Income Group) and Middle Income Group (MIG) category, the housing finance firm said in a statement.

HDFC disburses Rs 1100 cr subsidy to 51000 home buyers under PMAY scheme

Representational image.

It further said HDFC during the quarter ended 30 September 2018 approved 37 percent of home loans in volume terms and 18 percent in value terms to customers from the EWS and LIG segment.

The company on an average has been approving 8,300 loans on a monthly basis to the EWS and LIG segment, with monthly such average approvals at approximately Rs 1,354 crore, it said.

The average home loan to the EWS and LIG segment stood at Rs 10.1 lakh and Rs 17.6 lakh respectively, it added.

CLSS was introduced in June 2015 under PMAY for home loans to customers from the EWS, LIG and was extended to Middle Income Group (MIG) from January 2017.

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