How To Buy House Under Pmay

Beneficiaries will get advance interest subsidy of up to 6 5 on home loans for 20 years along with other benefits.

How to buy house under pmay. The government has extended the deadline for the affordable housing clss till 31st march 2021. You can apply for a house which is provided under this scheme or you can buy a house from a project pvt where 30 of affordable houses in the project are ear marked for ews category or. To apply for a home under pmay housing for all you must belong to the low income group lig or the economically weaker sections ews of the society. Married couples can apply for subsidy under individual or joint ownership of the property. You or any member of your family is not an owner of a pucca house.

One may also take a loan for the construction of the house. What is pradhan mantri awas yojana. Is there any size restriction for houses availed under pmay clss. Following are some other conditions that you must fulfill. You are planning to buy a house worth rs 50 lakhs.

Choose a lender who is listed with pmay you can avail a loan from any primary lending institution pli such as a bank or an nbfc. If you haven t applied to the pmay scheme yet then you can apply for pradhan mantri awas yojana online. Credit linked subsidy scheme. If you are looking at buying a house under the government s pradhan mantri awas yojana pmay you can consider buying it under the credit linked subsidy scheme clss. Rs 10 lakhs and you can arrange the remaining amount of rs 40 lakhs through a loan.

Loans under pmay the pmay benefits can be availed if one wishes to acquire a new house from the developer or the builder and even for buying a house from the secondary market through repurchase. Well you can build or buy as large a house as you wish but the pmay will only cover you for a carpet area of 30 sq. A pucca house is one which is made of high quality material. But before applying you must ensure that your lender is pmay approved. For the ews category and 60 sq.

The govt is planning to build around 2 crores of affordable houses by 2022 in a phased manner. This way you can also enjoy pmay benefits as well as additional home loan benefits. The pmay online apply process is quite easy. In this post we will guide you on how you can avail subsidy under the pmay scheme. Get a house under pradhan mantri awas yojana in 21 days.