New Scheme For Middle-Class To Own House In Cities: PM Modi's Big Announcement

Prime Minister Narendra Modi on Tuesday said the government will soon launch a scheme to provide relief in bank loans to those dreaming of their own house in cities.

Addressing the nation on the 77th Independence Day, PM Modi said his government will soon launch the scheme for middle-class families living in cities but do not own a house.

The Prime Minister launched the Pradhan Mantri Awas Yojana - Urban (PMAY-U) -- a flagship Mission of the Central government -- on June 25, 2015.

The Housing and Urban Affairs Ministry has been implementing the PMAY-U scheme. According to the ministry, around 1.18 crore houses have been sanctioned under PMAY (Urban) till July 31 this year, out of which 76.02 lakh have been delivered to the beneficiaries.