Friday , April 23 2021

HDFC pays Rs 1 100 crore subsidy to 51 000 home buyers during PMAY



NEW DELHI: The housing finance company HDFC said it was paid over Rs 1,100 crore contributions to over 51,000 customers under the government flagship system Pradhan Mantri Awas Yojana (PMAY).

HDFC has provided loans of over £ 900 per month according to the PMAY-Credit Linked Subsidy Scheme (CLSS), to those EWS (Economic Weaker Section), LIG ​​(Low Income Group) and Middle Income Group (MIG) said in a statement.

It further argued that HDFC during the quarter ending September 30, 2018 approved 37 percent of home loan in volume and 18 percent in value to customers from the EWS and LIG segment.

The company on average has approved 8,300 monthly loans to the EWS and LIG segment, with monthly such average approvals to approximately Rs 1,354 crore, said it.

The average housing loan to the EWS and LIG segment was at Rs 10.1 lakh and Rs 17.6 lakh, allowing it.

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


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