PMAY-U 2.0 Boosts Affordable Housing in Maharashtra with ₹1,530 Crore Push

• ₹1,530 crore sanctioned under PMAY-U 2.0 for 10,000+ beneficiaries

• Strong focus on semi-urban and emerging markets in Maharashtra

• Outreach, digital lending, and interest subsidy awareness drive adoption

Mumbai: The affordable housing momentum under PMAY-U 2.0 is gaining pace in Maharashtra, with PNB Housing Finance Limited sanctioning over ₹1,530 crore in home loans for more than 10,000 eligible beneficiaries across the state. The move marks a significant step in expanding formal housing finance access and supporting first-time homebuyers under the government’s flagship Housing for All initiative.

Maharashtra has emerged as a key focus market for PNB Housing Finance, driven by sustained urbanisation, rising housing demand in Tier II and Tier III cities, and strong policy support through PMAY-U 2.0. The company operates 47 branches in the state, including 25 dedicated Roshni Home Loan branches, which primarily cater to low- and middle-income households in semi-urban and underserved regions.

PMAY-U 2.0 Driving First-Time Homeownership

At the centre of this expansion is PMAY-U 2.0, which offers interest subsidy benefits to eligible urban homebuyers, significantly reducing the cost of home loans. PNB Housing Finance has aligned its affordable housing strategy closely with the scheme, positioning it as a key enabler for families taking their first step into homeownership.

Through its Roshni Home Loans platform, the lender focuses on customers with informal or non-traditional income profiles, including self-employed individuals and small business owners. By offering customised lending solutions and simplified documentation, the company is helping bridge the gap between aspiration and access in India’s affordable housing segment.

Awareness Campaigns to Accelerate PMAY-U 2.0 Adoption

To deepen the impact of PMAY-U 2.0 in Maharashtra, PNB Housing Finance plans to scale up its awareness and outreach initiatives across the state. These include on-ground engagement programmes, interactive workshops in semi-urban districts, and targeted sessions for identified beneficiaries to explain eligibility criteria, subsidy benefits, and the loan application process.

Company officials said the objective is to remove complexity around PMAY-U 2.0 and ensure that eligible borrowers fully understand how to avail interest subsidies. Special emphasis is being placed on guiding informal-sector workers, who often face challenges in accessing formal credit due to limited income documentation.

Policy Support Called ‘Visionary’

Commenting on the initiative, Jatul Anand, Executive Director, PNB Housing Finance, described PMAY-U 2.0 and similar government measures as “visionary,” noting their role in reshaping India’s urban housing ecosystem. He said the scheme has brought thousands of families closer to their dream of owning a home while promoting financial inclusion.

Anand highlighted Maharashtra as one of the company’s strongest growth regions, adding that increased awareness and easier access to PMAY-U 2.0 benefits align with broader national priorities such as nation-building and the government’s ‘Viksit Bharat’ vision.

Digital Push Strengthens PMAY-U 2.0 Delivery

Supporting its PMAY-U 2.0 expansion, PNB Housing Finance has continued to invest in its digital infrastructure. An upgraded technology stack and omnichannel platform now allow faster loan processing, smoother customer onboarding, and improved service delivery—critical factors for affordable housing borrowers.

The lender recently received a credit rating upgrade from ‘IND AA+’ to ‘IND AAA’ by India Ratings, reflecting improved asset quality and financial strength. This upgrade further strengthens its ability to scale affordable housing lending under schemes like PMAY-U 2.0.

Looking Ahead

With a pan-India network of over 500 branches and an ambitious target of building a ₹1 lakh crore loan book by FY27, PNB Housing Finance plans to use PMAY-U 2.0 as a key growth lever. In Maharashtra, the ₹1,530 crore push already stands out as a major milestone, enabling thousands of families to enter the formal housing market.

As housing demand continues to rise in emerging urban centres, the success of PMAY-U 2.0 in Maharashtra highlights how coordinated efforts between policy support and financial institutions can turn homeownership into a reality for many.