Sun. Sep 25th, 2022

In districts like Dang in Gujarat, 86 per cent of new home loan borrowers are women, while their proportion in the general population is only 50 per cent. Similarly, in many districts of Chhattisgarh, Haryana, and Bihar, the percentage of female borrowers is much higher than their share of the population.

File image of Prime Minister Narendra Modi interacting with women. ITP

New Delhi: Reflecting a sea change in home ownership, an SBI study has shown that 94 lakh out of 123 lakh houses built under the Pradhan Mantri Aawas Yojana (PMAY) scheme are owned or jointly owned by women, since the launch of the scheme in 2015.

PMAY was launched in 2015 to help secure homes for all those in need. Since then, 123 lakh of such houses have been sanctioned. Of those, work on 101 lakh units started from FY22 and 61 lakh houses have been completed. Of these 123 lakh of sanctioned homes, as many as 94 lakh are in the name of or jointly owned by women, an SBI Research study into the scheme shows.

Since June 2015, the government has approved Rs 2.03 lakh crore in central subsidy for 123 lakh houses, while the total investment required for the scheme which seeks to build 20 million houses by 2022 is Rs 8.31 lakh crore. . Of the approved funds, core assistance worth Rs 1.20 lakh crore has been released until FY22.

The scheme was initially launched to provide affordable housing to 20 million urban poor households by 2022 and offers an interest rate subsidy of up to 3.5 per cent for a 20-year loan. Later, the scheme was extended to the rural poor and also those who earn less than Rs 18 lakhs a year and do not own a home.

The report also points to ownership patterns of bank loan disbursements, clearly showing that the number of female borrowers in new disbursements has increased significantly in FY22 in Tier 3 and Tier 4 districts.

Among the top 20 districts with the highest proportion of female borrowers in new home loan disbursements in FY22, six districts are from Chhattisgarh, three from Gujarat and three from Haryana. These districts have an average of 49% female participation in the total population.

But what is more interesting is that in districts like Dang in Gujarat, as many as 86 per cent of new home loan borrowers are women, while their share in the general population is only 50 per cent. The number is 75 percent in Bihar’s Arwal, where women make up just 48 percent of the district’s population; in Gujarat’s Botad, the figures are 63 and 48 percent, respectively.

In Haryana’s Palwal, it is 58 and 47 percent respectively, while in Chhattisgarh’s Jashpur, it is 58 and 50 percent and in West Godavari in Andhra, it is 57 and 50 percent.

In Ballia of Uttar Pradesh it is 57 and 48 percent, in Mungeli in Chhattisgarh it is 57 and 49 percent, in Baghpat district of UP, it is 56 and 46 percent, Gariyaband in Chhattisgarh (55, 51), Surguja of Chhattisgarh (55, 49) and in Bageshwar district of Uttarakhand, the figures are 54 and 52 percent respectively.

The other districts that have more than 50 percent women home loan borrowers include Banas Kantha from Gujarat, Kondagaon from Chhattisgarh, Sonipat and Kaithal from Haryana, Uttar Bastar Kanker from Chhattisgarh, Guntur from Andhra, Udham Singh Nagar in Uttarakhand and Dakshin. Bastar Dantewada in Chhattisgarh.

With contributions from the PTI

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