Pay less home loan EMI if bought under PM Awas Yojna

The monthly home loan instalment or EMI for a new property will come down by around Rs 2,000 for those who will be buying their first home in a city or town under the PM Awas Yojna (PMAY). On Wednesday today, around 70 lending institutions including 45 housing finance companies, 15 scheduled banks, regional rural and cooperative banks signed MoUs with National Housing Bank for implementation of the scheme for the middle class in urban areas.