IIFL Home Finance disburses Rs 440 crores CLSS subsidy to 20,000 people under PMAY

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By Accommodation Times Bureau


IIFL Home Finance Ltd, today said that it has disbursed over Rs 440 crores to about 20,000 beneficiaries under Credit Linked Subsidy Scheme (CLSS) of Pradhan Mantri Awas Yojna. CLSS is the flagship scheme of Government of India’s Pradhan Mantri Awas Yojna (PMAY) which aims to house for all by 2022.

Till the month ended November 30, It has approved home loans of up to Rs 2,700 crores under PMAY (Urban) CLSS scheme to beneficiary families belonging to EWS (Economically Weaker Section), LIG (Low Income Group) and Middle Income Group (MIG) categories.

Monu Ratra, CEO, IIFL Home Finance Ltd. said, “CLSS subsidy scheme under PMAY has been well received by customers all over the country, especially first-time home buyers belonging to EWS and LIG category. It is important to note that the benefits under the Credit-Linked Subsidy Scheme (CLSS) have enabled potential homebuyers to realize their dream of owning a home”

The average ticket size for loan amount disbursed to customers under this scheme is Rs 13 lakhs in case of EWS/LIG. Since the launch of the scheme in 2015, CLSS beneficiary numbers of IIFL HFL have grown from 65 in FY 2015-16 to about 20,000 in December 2018.

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