The workshop hosted by The Union Ministry of Housing and Urban Affairs
provided a platform for the participants to come together to deliberate and
strategize on the implementation of PMAY-U 2.0 and modalities to strengthen
the affordable housing initiative.
The Union Ministry of Housing and Urban Affairs (MoHUA), in partnership with
the National Housing Bank (NHB organized a national workshop on the Pradhan
Mantri Awas Yojana – Urban 2.0- Interest Subsidy Scheme (ISS) vertical and
signing of MoUs on the 14th November 2024. The event, graced by Manohar Lal,
Union Minister for Housing and Urban Affairs registered an attendance of more
than 250 participants from various banks, housing finance companies (HFCs),
primary lending institutions (PLIs) and other financial institutions.
Minister spoke about identifying the genuine beneficiaries and helping them get a
pucca roof over their heads. He stressed the necessity of helping the homeless avail
benefits of the scheme without any hurdles and be a bit empathetic while
processing home loan subsidy applications.
The workshop provided a platform for the participants from various sectors to
come together to deliberate and strategize on the implementation of PMAY-U 2.0,
discuss its modalities and identify ways to strengthen the affordable housing
initiative.
‘PMAY-U 2.0 – Housing for All’ Scheme, launched in September 2024 provides
financial assistance to poor and middle-class families to construct or purchase a
pucca house in urban areas. The scheme emphasises on empowerment of urban
poor and middle-class families by giving them secure houses to improve the
quality of their lives and also promotes sustainable and inclusive urban
development.
PMAY-U 2.0 will be implemented through four verticals with beneficiaries having
the flexibility to choose one vertical as per their eligibility criteria. ISS is one
among the four verticals of the Scheme, under which interest subsidy will be
provided to EWS/LIG/MIG beneficiaries on home loans. The ISS vertical of
PMAY-U 2.0 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.
The participants of the PMAY-U 2.0 workshop were also introduced to the unified
web portal designed and developed by MoHUA to execute the scheme. The portal
simplifies the application process and allows beneficiaries to know the status of the
application and modalities of data exchange among stakeholders. It also ensures
faster due diligence, approval and release of subsidy. The web portal is accessible
to all stakeholders and will help in monitoring and evaluating the PMAY-U 2.0 scheme.
