Housing ministry organises workshop, discuss urban interest under PMAY

Pradhan Mantri Awas Yojana – Urban 2.0 aims to provide financial assistance for home construction.

MoHUA organised National Workshop on Pradhan Mantri Awas Yojana | PIB Delhi

New Delhi: The Ministry of Housing and Urban Affairs (MoHUA) organized a national workshop in New Delhi to discuss the Pradhan Mantri Awas Yojana — Urban 2.0 Interest Subsidy Scheme (ISS) vertical. The event, which was attended by more than 250 participants from banks, housing finance companies (HFCs), primary lending institutions (PLIs), and other financial institutions, focused on the implementation of the ISS vertical and the signing of MoUs between the National Housing Bank (NHB) and PLIs, a PIB press release stated.

The workshop was attended by Manohar Lal, the minister for housing and urban affairs, who emphasized the importance of identifying genuine beneficiaries and ensuring they receive the scheme’s benefits without any hurdles. He stressed the importance of an empathetic approach when processing home loan subsidy applications. Lal highlighted the government’s vision of providing “housing to all” by 2047, which he said would be a major milestone in the journey toward a “developed India.” The minister also explained the central government’s vision under Prime Minister Narendra Modi’s leadership and highlighted the key features of PMAY-U 2.0, especially the ISS vertical. He urged all financial institutions, including banks and housing finance companies, to be active partners in this reformative journey of providing “housing to all.”

The workshop saw the signing of MoUs between NHB and 147 different PLIs for the implementation of the Interest Subsidy Scheme.

The PMAY-U 2.0 scheme, launched in September 2024 by Prime Minister Narendra Modi, aims to provide financial assistance to poor and middle-class families to construct or purchase a pucca house in urban areas. The scheme is implemented through four verticals, with beneficiaries having the flexibility to choose one vertical based on their eligibility criteria. The ISS vertical provides interest subsidies to EWS/LIG/MIG beneficiaries on home loans.

The scheme’s ISS vertical is being implemented by designated Central Nodal Agencies (CNAs) such as NHB, HUDCO, and SBI to channel the subsidy to the beneficiary accounts through identified PLIs.