HDFC disburses subsidy to over 1 lakh first-time homebuyers under PMAY

Last Updated: Thu, May 30, 2019 16:10 hrs
HDFC Bank (Image Courtesy: Wilipedia)

HDFC Ltd said on Wednesday it has disbursed subsidy amounting to over Rs 2,300 crore benefitting over 1.04 lakh families under the Pradhan Mantri Awas Yojana (PMAY) credit linked subsidy scheme (CLSS).

The company approved Rs 22,136 crore of home loans under CLSS to homebuyers belonging to economically weaker section, low income group and middle income groups.

HDFC has been partnering and supporting the Ministry of Housing and Urban Affairs and the National Housing Bank to work towards the government's goal of 'Affordable Housing for All.'

"The government's PMAY scheme is a growth accelerator programme that aims to provide affordable housing to people in the country," said company's Managing Director Renu Sud Karnad.

"The thrust on housing is a recognition that a rapidly growing country like India with a large young population needs more affordable homes," she said in a statement.

HDFC has also engaged extensively with developers and channel partners to reach out to more eligible beneficiaries.