What happened (PMAY-U 2.0 ISS eligibility and operational flow)
The Ministry of Housing and Urban Affairs explained the eligibility, demand registration process, and scope of assistance under the Interest Subsidy Scheme (ISS) component of PMAY-U 2.0. The Ministry stated that eligible households can avail interest subsidy for purchase or construction of a house across India, including the Union Territory of Jammu and Kashmir.
Background (how ISS fits into affordable housing through home loans)
Interest subsidy means the government supports housing finance by reducing the borrower’s effective interest cost on a home loan. In PMAY-U 2.0, the ISS benefit is routed through the housing loan delivery chain involving Primary Lending Institutions (PLIs).
What changed now (eligibility bands, unified registration, and purchase rules)
The Ministry’s stated details focus on three points that are useful for UPSC recall: (1) income-based eligibility for EWS, LIG and MIG; (2) registration of demand on the PMAY-U 2.0 unified web-portal, with forwarding to Primary Lending Institutions (PLIs) for further necessary action; and (3) the scheme’s scope for purchase and construction, including conditions for apartment purchases.
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