PMAY will benefit people with lower income – Sandeep Singh, CEO, Sheltrex

Sandeep Singh, CEO of Sheltrex Developers says The government’s two new schemes under the Pradhan Mantri Awas Yojana (PMAY) will benefit people with lower income which is the largest base of the social pyramid of our country. Widening the scope of the existing Credit Linked Subsidy Scheme (CLSS) from 6 lakhs to 9-12 lakhs, these schemes will have an extremely wide impact to meet the housing needs of the EWS and LIG. This move will increase the probability of individuals to avail housing loans thereby giving a boost to the affordable housing sector.  However, we still await to understand its effectiveness because the details such as restrictions on income, size of the housing units and other eligibility criteria are yet to be decided.