<b>Letters:</b> Pricey housing scheme

This means builders will make hefty profits under PMAY

While the government had introduced the Pradhan Mantri Awas Yojana (PMAY) with much fanfare, it seems the scheme is now unaffordable for the poor and low-income group. 

Builders are re-labelling their projects as affordable housing under PMAY with the earlier price tag, although these projects are also available outside the umbrella of the scheme. In some cases, they are charging high rates even for 30-square-metre and 60-square-metre units. The scheme has ended up providing only interest subsidy to buyers. Builders are asking for five per cent to 10 per cent down payment and no EMI until possession. These are the same