Rs.1,100 crore disbursed as subsidy by HDFC under PMAY

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HDFC, one of the largest housing finance companies in the country recently stated that it disbursed a total of Rs.1,100 crore as subsidy under the Pradhan Mantri Awas Yojana (PMAY). The firm provided loans to over 51,000 customers under the scheme, with the quantum of loan for the same being in excess of Rs.9,800 crore, as per a report by The Economic Times.

Subsidy-under-PMAY
HDFC has disbursed Rs.1,100 as subsidy under PMAY.

The loans were offered to customers from the Economically Weaker Section (EWS), Middle Income Group Category (MIG), and Low Income Group Category (LIG).

The firm also approved 37 per cent (in terms of volume) of housing loan applications it received during the second quarter of the year.

According to the same report, around 8,300 loans are approved by the firm each month (to individuals from the LIG and EWS category). The average quantum of loan approved for individuals from the economically weaker sections is Rs.10.1 lakh, while the average loan amount for those belonging to the LIG category is Rs.17.6 lakh.

The Pradhan Mantri Awas Yojana aims to provide affordable housing solutions to all, with its target being to build 20 million homes by 2022.

Source: The Economic Times

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