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HDFC disburses Rs 11 billion subsidy to 51,000 home buyers under PMAY

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 13.54 billion

Press Trust of India  |  New Delhi 

HDFC

firm said Sunday it has disbursed over Rs 11 billion subsidy to over 51,000 customers under the government's flagship scheme (PMAY).

has provided loans of over Rs 98 billion 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 firm said in a statement.
 

It further said during the quarter ended September 30, 2018 approved 37 per cent of home loans in volume terms and 18 per cent 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 13.54 billion, it said.
 

The average home loan to the EWS and LIG segment stood at Rs 1.01 million and Rs 1.76 million respectively, it added.

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

First Published: Sun, November 18 2018. 17:25 IST
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