PMAY allocation of Rs 79,000 cr a boost to affordable housing market: Eros Group Director

Avneesh Sood, Director, Eros Group

“The allocation of Rs 79,000 crore in the Budget 2023-24 for the Pradhan Mantri Awas Yojana (PMAY) is a significant step towards fulfilling the government's commitment to provide affordable housing to the urban poor. The 66 percent increase in funding for PMAY, compared to the previous budget, will provide a much-needed boost to the program and contribute to the growth and development of the country. Also, the extension of the Credit Linked Subsidy Scheme (CLSS) will give homebuyers the financial flexibility to make their purchase, thereby helping to achieve the government's goal of completing 80 lakh houses under PMAY. The hike in funding for PM Awas Yojana is a positive development in the affordable housing market and an important step towards creating a more inclusive society."