Construction of about 75 percent of the sanctioned houses has been completed. Most states have achieved 75 percent progress, while some, including Andhra Pradesh, Bihar, and Haryana, lag below 60 percent, said Dr Soumya Kanti Ghosh, SBI’s Group Chief Economic Advisor.

PMAY-U 2.0, launched on September 1, 2024, provides Central Assistance to one crore eligible urban families. The scheme targets EWS, LIG, and MIG families without a pucca house, allowing them to purchase or construct homes. Housing benefits are widely distributed across states, including low-income regions.

The report highlighted positive impacts on household spending. Debit card usage increased among low-income households, reflecting financial freedom through subsidised housing loans. Women borrowers showed higher discretionary spending via UPI. Urban and semi-urban areas experienced a rise in digital transactions after PMAY instalments were disbursed.

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