National Workshop on Pradhan Mantri Awas Yojana 2.0, Interest Subsidy Scheme and MoUs Signing

The Ministry of Housing and Urban Affairs (MoHUA), in collaboration with the National Housing Bank (NHB), organized a national workshop on the Pradhan Mantri Awas Yojana (Urban) 2.0 –Interest Subsidy Scheme (ISS). The event was graced by the Hon’ble Minister of Housing and Urban Affairs, Shri Manohar Lal. The workshop was attended by participants from various banks, housing finance companies, primary lending institutions and other financial institutions.

His address, the Hon’ble Minister emphasized the importance of identifying genuine beneficiaries and assisting them in securing a permanent home. He stressed the need to ensure that the benefits of the scheme reach the homeless and marginalized without any hurdles.

Steps towards Providing Housing for All by 2047:

Sharing the Central Government's vision, the Hon’ble Minister explained that the objective of the PMAY-U 2.0 Interest Subsidy Scheme is to ensure homeownership for everyone. He urged banks and housing finance companies to actively contribute to realizing this goal, which will be a crucial step towards achieving a "Developed India" by 2047.

Interest Subsidy for Home Loans for Beneficiaries:

PMAY-U 2.0 will be implemented through four key components, under which EWS/LIG/MIG beneficiaries will be provided with interest subsidies on home loans. This scheme is being executed by central nodal agencies (CNAs) such as the NHB, HUDCO, and SBI, which will channel the subsidy to the beneficiaries’ accounts through identified PLIs.

MoUs Signed with 147 Institutions for Implementation:

During the workshop, a web portal developed by MoHUA for the effective implementation of PMAY-U 2.0 was introduced. The portal simplifies the application process, allows beneficiaries to track their application status, and ensures quick approval and subsidy disbursement. Beneficiaries can apply for PMAY-U 2.0 through the portal at [https://pmaymis.gov.in/PMAYMIS2_2024/PmayDefault.aspx]. 

An important milestone was achieved with the signing of MoUs between NHB and 147 primary lending institutions (PLIs) for the successful implementation of the Interest Subsidy Scheme, marking a significant step towards the scheme’s success.

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