Since the launch of the housing scheme in 2015, home ownership has undergone a major shift as 94 lakh of 123 lakh houses under the scheme are either owned by the women or jointly owned, according to a report.
The Prime Minister's Awas Yojana PMAY was launched in 2015 with a goal to help ensure a home for all the needy. Since then 123 such houses have been sanctioned. The work on 101 lakh units has started as of FY 22 and 61 lakh houses have been completed. According to the SBI Research study, 94 lakh of the sanctioned 123 lakh homes are owned by women or are jointly owned by them.
Since June 2015, the government has approved Rs 2.03 lakh crore in central subsidy to 123 lakh homes, while the total investment needed for the scheme which seeks to build 20 million homes by 2022 is Rs 8.31 lakh crore. Central assistance worth Rs 1.20 lakh crore has been given up to FY22, according to the approved funds.
The scheme was initially launched to provide affordable housing to 20 million urban poor households by 2022, and it offers an interest rate subsidy of up to 3.5 per cent for a 20 year loan. The report also notes the ownership patterns from the bank credit disbursals, which shows the number of female borrowers in new disbursements has increased significantly in FY 22 in tier 3 4 districts.
Among the top 20 districts with the highest share of female borrowers in fresh home loan disbursal in FY 22, six districts are from Chhattisgarh, three districts from Gujarat and Haryana. These districts have a 49 per cent female share in the total population.
In Dangs in Gujarat, as much as 86 per cent of new home loan borrowers are women, while the share in the overall population is only 50 per cent. The number is 75 per cent in Arwal of Bihar where females are only 48 per cent of the district population, while the numbers are 63 and 48 per cent in Gujarat's Botad.
It is 58 and 47 per cent in Haryana's Palwal, while it is 58 and 50 per cent in Jashpur of Chhattisgarh and 57 and 50 per cent in West Godavari in Andhra.
In Ballia of Uttar Pradesh it is 57 and 48 per cent, in Mungeli in Chhattisgarh 57 and 49 per cent, in Baghpat district of UP it is 56 and 46 per cent, Gariyaband is 55, 51 Surguja of Chhattisgarh 55, 49 and in Bageshwar district of Uttarakhand the numbers are 54 and 52 per cent respectively.
The other districts that have more than 50 per cent female home loan borrowers include Banas Kantha of Gujarat, Kondagaon of Chhattisgarh, Sonipat and Kaithal of Haryana, Uttar Bastar Kanker of Chhattisgarh, Guntur of Andhra, Udham Singh Nagar in Uttarakhand and Dakshin Bastar Dantewada in Chhattisgarh.