All Housing Programmes Gets A Push From

The PMAY- ‘Pradhan Mantri Awas Yojana- Housing for All’ was launched by Government to provide house (pakka) to all by 2022 to every Indian family. There is a criterion that has to be fulfilled to get the home loan interest subsidy by any individual. The government has planned to complete 2 crore houses by the year 2022. This scheme is also called as Government Pushes Housing and is divided into two sections- Urban poor and rural poor.

Read Also: Godrej Buy 33 Acre of Land in Bannerghatta Road Bangalore

Read Also: Loan Against Property In Noida

What is Credit Linked Subsidy Scheme (CLSS)?

The interest subsidy of the government is referred to as the Credit Linked Subsidy Scheme (CLSS). CLSS is an important aspect under the PMAY scheme and the individuals who can be eligible for the scheme are:

• Economically Weaker Section, Lower Income Group.
• Revised EWS/LIG.
• MIG-I (Middle Income Group 1).
• MIG-II (Middle Income Group 2).

The maximum subsidy a person can claim under CLSS is Rs 2.67 Lakhs and the subsidy will be offered at the rate of 6.50%. Also, the amount is only available under the revised EWS/LIG scheme.

Read Also: DLF One Midtown

Read Also: M3M Sector 79 Gurgaon

Read Also: Smart World Sector 79 Gurgaon

Pradhan Mantri Awas Yojana

The Pradhan Mantri Awas Yojana was introduced to provide affordable housing to the weaker sections, lower-income groups, urban poor, and rural poor.

This scheme has aimed at building around 20 million houses at an affordable rate lately by March 31, 2020. The Central Government is giving financially aid to this scheme of USD 31 billion.

Read Also:- Top 10 Best Residential Projects in Gurgaon

Read Also:- Top 10 Best Residential Projects in Mumbai

Read Also: Smart World Sector 111 Gurgaon

Pradhan Mantri Awas Yojana Urban (PMAY-U)

Under PMAY- U there come 4300 cities and towns in India. They have to plan the development such as urban centers, development authority, industrial development body, notified planning authority, and more.

Read Also: TVS Emerald Singasandra Bangalore

Read Also: Godrej Pimpri Chinchwad Pune

Read Also: L and T Sector 150 Noida

Pradhan Mantri Awas Yojana Gramin (PMAY-G)

The PMAY- G scheme is an aid to the families that fall under EWS-Economically Weaker Sections and Lower- Income Groups. It is not only bounded to big cities and towns only.

Read Also: ATS Homekraft Rohini Delhi

Read Also: Max Sector 128 Noida

Read Also: Godrej Woodsville

Other schemes launched by the Government:

• The Swachh Bharat Abhiyan aims at maintaining the cleanliness around the houses and roads. It will also undertake the construction of toilets as well.
• Saubhagya Yojana aims at providing electricity connection.
• Ujjwala Yojana will provide an LPG Gas connection.
• Accessibility of pure drinking water.
• Pradhan Mantri Jan Dhan Yojana aims at opening a zero balance amount.

Read also: Top 10 Best Luxury Apartments in Gurgaon

Read Also: Buy Residential and Commercial Property in Noida

Read Also: M3M Sector 111 Gurgaon

The four major components of PMAY:

• In-Situ Redevelopment
• Credit Linked Subsidy
• Affordable Housing in Partnership (AHP)
• Enhancement and construction of beneficiary led house

How to apply for Pradhan Mantri Awas Yojana?

You can apply for the scheme under two categories:

• Under 3 components- The beneficiaries for the “Housing for All Scheme” include the weaker sections of the society that can be divided into Low-income groups (LIG), Middle-income groups (MIG), and EWS.
• Individuals living in unhygienic conditions and have to consume unhealthy drinking water and poor sanitation facilities.

You need to follow some steps to apply for Pradhan Mantri Awas Yojana:

1. Visit the official website of Pradhan Mantri Awas Yojana and log in.
2. Select the benefits under three components under the citizen assessment drop-down menu.
3. Enter the AADHAR details to proceed (mandatory).
4. A new webpage will be redirected to the application form where you have to fill in the AADHAR details.
5. Click on ‘Save’ and then enter the Captcha code.
6. Click on ‘Save’. You can take a print out after the application form is complete.

Eligibility for SBI Home Loan Scheme

• There are different eligibility aspects for the SBI home loan scheme. So, to avoid rejection it is advisable to check the SBI Home Loan eligibility before applying.
• The factors of eligibility are given below:
• The minimum Loan amount for self-employed is Rs. 50,000.
• The maximum loan amount for self-employed is Rs. 50 crore.
• Loan tenure is not more than 30 years.
• Age limitation for salaried Indian/NRI is 18 to 70 years.
• Age limitation for self-employed Indian/NRI is 18 years onwards.

Documents required for SBI Home Loan Application

Applicant’s documents:

• Office ID Card.
• PAN Card/Passport/Driving license/Voter ID Card.
• Filled out the application form with 3 passport size photos.
• Recent Utility bill copy.

Income documents:

• Last 6 months bank account statements of the applicant.
• Last 12 months bank account statements.

Property documents:

• Constructions permit (only if applicable).
• Registered sale agreement (only for Maharashtra)/Stamped sale agreement/allotment letter.
• Occupancy certificate.
• Property tax receipt/maintenance bill/share certificate (only for Maharashtra).
• Conveyance deed for a new property/registered development agreement of the builder and photocopy of the blueprint of the approved plan.
• Payment receipts from the builder/seller.

Subsidy on home loan by the Government Pushes Housing

The subsidy on the home loans by the government pushes housing is the PMAY subsidy. This scheme is introduced to make the home purchasing process easier for the urban poor and rural poor. It will offer a reasonable rate of interest through EMIs and subsidized loans as the rate of interest is comparatively lesser than commercial rates.

Read Also: Birla Sector 150 Noida

Read Also: M3M Sector 128 Noida

To calculate the EMI you need to follow the steps mentioned below:

Open the Pradhan Mantri Awas Yojana website and enter the relevant details such as total loan amount in rupees, rate of interest, and the total loan period in months. After filling in all the details, click on the ‘calculate’ option and then you will get the EMI payable in rupees.

How to get Interest Subsidy?

• Home loan subsidy can be applied through any listed lending institution to ask for the subsidy.
• Once the lending institution has reviewed your application and eligibility, the application will be further sent to Central Nodal Agency.
• The Central Nodal Agency will disburse the amount only if the application is verified and no discrepancies are found.
• After the amount is credited by the lending institution to you account, only then the total loan amount will be lowered.
• And after that you can keep paying the EMIs towards the balance loan amount.

How to calculate Home loan subsidy?

Home loan subsidy can be calculated to determine the discount you can have avail for the home that is obtained under PMAY scheme.

Enter the loan details like the rate of interest, principal, etc to calculate the subsidy on PMAY scheme.

To use the subsidy calculator, you need to follow the below given simple steps:

• Visit an official PMAY website.
• Select ‘Others’ and click on ‘NPV Subsidy Calculator’ from the drop-down menu. You can also visit the PMAY MIS Calculator.
• You will then have to enter all your loan details that are asked on the page.
• Click on ‘Calculate’.
• The amount reflected is the subsidy amount you requested.

Required Documents to avail the benefits of PMAY

• AADHAR card.
• PAN card.
• Stamp paper/affidavit.
• Sanction Letter for the loan.
• Buyer builder agreement.

ATS Pious Orchards

Read Also: - Top 10 Best Residential Projects in Pune

Read Also:- Top 10 Best Residential Projects in Kharadi

Read Also: - Top 10 Best Residential Projects In Undri 

Read Also: - Top 10 Best Residential Projects in Wagholi

Read Also: - Top 10 Best Residential Projects In Bangalore

Read Also: - Top 15 Best Residential Projects In Gurgaon

Read Also: Top 10 Best Residential Projects In Noida Extension

Read Also: - Top 10 Best Residential Projects In Sector-150 Noida

Read Also:- Top 10 Best Residential Projects in Noida

Read Also:- Top 10 Best Residential Projects in Wakad

Read Also:- Top 10 Best Residential Projects in Bavdhan

Read Also:- Top 10 Best Residential Projects in Nibm

Read Also:- Top 10 Best Residential Projects in Talegaon

Read Also:- Top 10 Best Low Rise Apartments in Gurgaon

Read Also:- Top 10 Best Residential Projects in Mamurdi

Read also: Top 10 Best Commercial Property in Noida

Read Also: Top 10 Best Luxury Villas in Noida

Read Also: Top 5 Best Luxury Projects in Delhi

Read Also: Top 10 Best Luxury Projects in Bangalore

Read Also: Top 10 Best Luxury Projects in Gurgaon

Read Also: Top 10 Best Residential Projects In Chennai

Read Also: Top 10 Best Residential Projects in Dwarka Expressway Gurgaon

Read Also: TARC Kirti Nagar Delhi

Read Also: Top 10 Best Luxury Apartments in Pune

Read Also: Top 10 Best Luxury Apartments in Mumbai

Read Also: M3M Projects in Gurgaon

Read Also : Assetz Group Property Bangalore Real Estate Developer And Builder