ahmedabad credit linked subsidy scheme clss under the pradhan mantri awas yojna pmay has gained momentum across gujarat with the net subsidy disbursals going up by around 1500 crore in just twoandhalfmonthsaccording to the data compiled by gujarats state level bankers committee slbc the net subsidy disbursed under clss increased by 58 or rs 1490 crore to rs 4040 crore from rs 2550 crore during the period from february 13 to april 30 2019the banking sector sources opine that clss has seen steady increase in its offtake with the beneficiaries of the scheme growing consistently the number of such beneficiaries in the state moves up from 121 lakh to 173 lakh during the same periodclss which was introduced in june 2015 under the pmay for economically weaker sections ews lower income group lig and extended to middle income group mig from january 2017 gives borrowers an interest subsidy of 65 per annum for loans up to rs 6 lakh for ews and lig category annual household income up to rs 6 lakhinterest subsidy of 4 and 3 are provided for loans up to rs 9 lakh and rs 12 lakh respectively for mig category for a maximum tenure of 20 years the effective subsidy to customer is in the range of rs 230267 lakh on a 20year term receivable upfront usually the government releases the subsidy amount in bulk rather than disbursing the same on case to case basis meanwhile the number of loan requests also increased during january to march period therefore as the number of applications surged the amount of disbursement also went up said a wellplaced source in slbc majority of these disbursals were in ahmedabad followed by other major cities of gujarat including surat rajkot and vadodara the source addedthe real estate sector players however are of the view that greater awareness among developers and consumers alike has resulted into more and more people opting for the subsidy the launches of new housing scheme were muted last year improvement in sales amid constrained supply resulted into speedy clearance of the unsold inventory the release of subsidy in ready to move dwellings is faster leading to a rise in disbursement of subsidy under clss said a real estate developer