Buy Your Own Dream House Under PMAY

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Buy Your Own Dream House Under PMAY

• Survey For Pradhan Mantri Yojana

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Own Your Dream Home For Less Than 5ooo per month

• Every individual has the right to own a house. To
  fulfill the needs and dream of the Indian
  citizens, the government has launched the Pradhan
  Mantri awas yojana. After all the hassles of the
  day, a house is all you need to relax your mind,
  body and soul. The affordable housing scheme will
  allow every individual to own a house of their
  own within their financial capability. Launched
  by Prime Minister Narendra Modi on June 15, 2015,
  where the aim is to build 2 Crore houses within a
  time period of 7 years. The estimated completion
  of building houses is by 2022. Housing for all
  is the scheme where EWS and LIG, scheduled tribes
  and schedule caste will be availed with houses.
• Economically Weaker section are the households
  with an average annual Income of up to Rs.
  1,00,000/- and Lower Income segment are the
  households with an annual income of Rs. 1,00,001
  to 2,00,000.

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1. Target Segment-

• Focusing mainly on Lower Income group and
  economically weaker section of the society.
• This is a pro women scheme. An application form
  in the name of women beneficiary will be given
  more privileged than Mens.

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Pradhan Mantri Awas Yojana
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Pradhan Mantri Awas Yojana Scheme

• Pradhan Mantri Awas Yojna(PMAY) is a mission
  started with an aim Housing For All(HFA) scheme
  by NDA Government to be achieved by the year
  2022, that is when India will be completing its
  75 years of Independence.

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2. Subsidy Scheme-

• Subsidy will be given to Individuals on a Loan of
  Rs.6, 00,000/- on an interest rate of 6.5 for a
  period of 15 year.
• Loan amount cannot exceed Rs. 6, 00,000/-.
• Duration of subsidized interest rate i.e. 6.5
  will be given to the beneficiary for 15 years.
• After 15 years, the interest rate will be charged
  as per the ongoing market rate.

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For a better Understanding, Let us take this
example-

• Ram wants to buy a house under the Affordable
  housing scheme Launched by Pradhan Mantri awas
  yojana and he goes to bank x to avail the loan.
  Now he applies for the loan of Rs. 6, 00,000/ for
  a period of 20 years. Now the bank will give ram
  a loan with an interest rate of 6.5 for a period
  of 15 years and after 15 years the interest rate
  will increase to the market rate for home loans.

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3. Major Components-

• A person can also avail the loan of Rs. 1.5 Lakhs
  if s/he wants to go for extension or renovation
  of house.
• It is not important to buy a house from the pool
  of units available under Pradhan Mantri awas
  yojana. A person can also build a house on his
  own by availing the loan.

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Points to be kept in mind-

• 35 of houses are reserved for economically
  weaker section of society.
• People availing loan for extension or renovation,
  the carpet area should not extend 30 square
  meters for EWS and 60 square meters for LIG.
• If a person avail loan for Rs.7, 00,000/- then
  for additional amount the interest will be
  charged as per the normal market rate.
• Content Source - http//www.apsense.com/article/bu
  y-your-own-dream-house-under-pradhan-mantri-awas-y
  ojana.html

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Contact us for any Query

• Pradhan Mantri Awas Yojana
• Minus One, Raheja Mall, Sohna Road, Gurgaon
  122001
• Phone - 91- 9599789921
• Email- info.pradhanmantriawasyojna_at_gmail.com
• Website- http//www.pradhanmantriawasyojna.com/