How To Buy House Under Pmay

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.

How to buy house under pmay. In this post we will guide you on how you can avail subsidy under the pmay scheme. You are planning to buy a house worth rs 50 lakhs. Is there any size restriction for houses availed under pmay clss. A pucca house is one which is made of high quality material. Should i buy a house which is provided under pmay only.

Married couples can apply for subsidy under individual or joint ownership of the property. However under pmay mig 2 category applicants are eligible for a subsidy of 3 on loan of upto rs 12 lakhs. Your minimum down payment would be 20 i e. Beneficiaries will get advance interest subsidy of up to 6 5 on home loans for 20 years along with other benefits. The pmay online apply process is quite easy.

Following are some other conditions that you must fulfill. The govt is planning to build around 2 crores of affordable houses by 2022 in a phased manner. One may also take a loan for the construction of the house. 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. If you haven t applied to the pmay scheme yet then you can apply for pradhan mantri awas yojana online.

Credit linked subsidy scheme. For the ews category and 60 sq. You have to log onto the official pmay website and click on the citizen assessment button. 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. Get a house under pradhan mantri awas yojana in 21 days.

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. What is pradhan mantri awas yojana. Rs 10 lakhs and you can arrange the remaining amount of rs 40 lakhs through a loan. To avail the home loan subsidy you must be first eligible for it. The benefit can be availed not only on the purchase of a new resale house but also on the construction extension or improvement of existing kucha semi pucca houses.