New PMAY rules will curb misuse, 'trading of loans': Mortgage companies

Indian mortgage lenders anticipate that new guidelines for the affordable home subsidy plan under the Pradhan Mantri Awas Yojana (PMAY) will plug fund leakages and ensure benefits reach more end-users. The scheme will now offer a reduced total subsidy of ₹1.80 lakh over five years, aiming to curb misuse by builders and brokers.