National Workshop on PMAY-U 2.0’s Interest Subsidy Scheme Inaugurated in New Delhi

New Delhi: The Ministry of Housing and Urban Affairs (MoHUA), in collaboration with the National Housing Bank (NHB), hosted a national workshop in New Delhi today to discuss the Pradhan Mantri Awas Yojana–Urban 2.0 (PMAY-U 2.0) and its Interest Subsidy Scheme (ISS) vertical. The event, attended by more than 250 representatives from banks, housing finance companies, and lending institutions, was graced by Shri Manohar Lal, Union Minister for Housing and Urban Affairs.

In his address, Manohar Lal stressed the importance of identifying genuine beneficiaries to help them secure a stable roof over their heads. He called for an empathetic approach in processing home loan subsidies under the scheme, underscoring the government’s mission to ensure “Housing for All” and envisioning a developed India by 2047.

The workshop, inaugurated by Srinivas Katikithala, Secretary of MoHUA, featured a comprehensive overview of PMAY-U 2.0, introduced by Kuldip Narayan, Joint Secretary & Mission Director, Housing for All. Highlighting PMAY-U’s global stature as one of the largest affordable housing programs, Secretary Katikithala encouraged participants to offer insights for developing innovative, future-focused housing policies.

Launched in September 2024 by Prime Minister Narendra Modi, PMAY-U 2.0 aims to empower economically weaker sections (EWS), low-income groups (LIG), and middle-income groups (MIG) by providing affordable housing solutions in urban areas. The scheme offers four verticals, giving beneficiaries the flexibility to choose according to eligibility. The ISS vertical specifically provides interest subsidies on home loans for EWS, LIG, and MIG families, with a subsidy of ₹1.80 lakh for eligible beneficiaries, channelled through designated Central Nodal Agencies (CNAs) such as NHB, HUDCO, and SBI.

The event saw a major milestone as NHB signed MoUs with 147 primary lending institutions (PLIs), strengthening the implementation of the ISS. The initiative also introduced a unified web portal by MoHUA, simplifying the application and tracking process, ensuring efficient data exchange, faster due diligence, and direct subsidy disbursement. Accessible to all stakeholders, the portal is expected to streamline and monitor the rollout of PMAY-U 2.0.

Kuldip Narayan’s presentation outlined PMAY-U 2.0’s eligibility, implementation, and four verticals, along with its overarching goal of providing secure housing to 1 crore urban residents. The Credit Linked Subsidy Scheme (CLSS) from the first phase of PMAY-U was celebrated for its achievements, having benefitted around 25 lakh beneficiaries across various income segments.

Dr. M.P. Tangirala, Additional Secretary, Department of Financial Services, Ministry of Finance, along with key officials from MoHUA, NHB, and representatives from participating states and lending institutions, attended the workshop. The event concluded with an interactive session where stakeholders shared insights and suggestions, enhancing strategies to achieve the scheme’s ambitious objectives.

Prospective beneficiaries can apply for PMAY-U 2.0 through the official portal at pmaymis.gov.in.