How To Buy House Under Pmay

You are planning to buy a house worth rs 50 lakhs.

How to buy house under pmay. To avail the home loan subsidy you must be first eligible for it. 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. 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. But before applying you must ensure that your lender is pmay approved. However under pmay mig 2 category applicants are eligible for a subsidy of 3 on loan of upto rs 12 lakhs.

Rs 10 lakhs and you can arrange the remaining amount of rs 40 lakhs through a loan. The central government aims to provide brick houses to the urban and rural poor under the pradhan mantri awas yojana pmay by the year 2022. Your minimum down payment would be 20 i e. 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. 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.

The govt is planning to build around 2 crores of affordable houses by 2022 in a phased manner. Married couples can apply for subsidy under individual or joint ownership of the property. The government has extended the deadline for the affordable housing clss till 31st march 2021. One may also take a loan for the construction of the house. In this post we will guide you on how you can avail subsidy under the pmay scheme.

What is pradhan mantri awas yojana. For the lig category. You have to log onto the official pmay website and click on the citizen assessment button. Is there any size restriction for houses availed under pmay clss. You or any member of your family is not an owner of a pucca house.

The pmay online apply process is quite easy. Beneficiaries will get advance interest subsidy of up to 6 5 on home loans for 20 years along with other benefits. Should i buy a house which is provided under pmay only. If you haven t applied to the pmay scheme yet then you can apply for pradhan mantri awas yojana online. Credit linked subsidy scheme.