If you do not have your own house and you are planning to get your own house then Pradhan Mantri Awas Yojana is a better option for you. Earlier, where the benefit of this scheme was for the poor class, now the amount of loan in this scheme has been extended to the urban poor and middle class. The loan amount categories into 3 to 6 lakhs rupees which have increased up to 18 lakh rupees PM Awas Yojana 2020.
But here one thing comes to the mind of the people again and again, what are the necessary conditions for the application of Pradhan Mantri Awas Yojana and what documents are necessary, many times people do not understand the conditions of the scheme and they If you are deprived of the beneficial scheme, then here we will tell you what category the government has created for this scheme. The answers to all the questions are further explained to you sequentially and pointwise.
What is the income
If you want to get a house under the PM Awas Yojana, then, first of all, see which income group you fall into. If you fall in the income group of 3 to 6 lakh rupees, then you will get more subsidy on interest, while the subsidy will be less for people in the income group of 6 to 12 lakh rupees and 12 to 18 lakh rupees per year. With effect from January 1, 2017, the scope of benefits of this scheme has been extended.
Two classes for the middle class
PM Awas Yojana 2020 has two categories for the middle class. It has the first category ranging from Rs 6 lakh to Rs 12 lakh, while the second category is from Rs 12 lakh to Rs 18 lakh. Now read further how the people of the age group of 6 to 18 lakhs can apply for Pradhan Mantri Awas Yojana and what are the conditions of this scheme.
What are the terms
The objective of the PM Awas Yojana is that everyone should get a pucca house. Yes, there are some conditions for this scheme which are very important for you to know. First of all, people who already have this house cannot avail of this scheme. The Pradhan Mantri Awas Yojana eligible terms are those who don’t have their own house.
The second condition of this scheme is that no family member gets the benefit of the housing scheme under any scheme of the Government of India. If a member in the family has got the benefit of housing under the government scheme, no other member can get the benefit of the PM Awas Yojana 2020.
For this scheme, it is necessary to give the Aadhaar card number of all the undivided family members at the time of application. It is for spouses, sons, and daughters who are unmarried are eligible for this scheme.
12 lakhs per year for people in income bracket
Similarly, people with an income of 12 lakhs per annum will get a loan of up to Rs 9 lakhs, in which a 4% subsidy will be given on the interest rate, in which there will be a savings of Rs 2,158 on the monthly EMI, which will be up to Rs 2 lakh 39 thousand 843 over a period of 20 years.
12 to 18 lakhs
If your annual income is between 12 to 18 lakh rupees, then you will get a 3% discount on interest rates on loans up to 12 lakh rupees. This will depend on the loan given for the construction of the house in 110 square meters. A subsidy of 3% on Rs. 12 lakhs will have to be repaid in 20 years, the total rebate on interest will be Rs. 2.30 lakhs. If seen in this way, the government will give 2.30 lakh rupees for your loan, which is a big saving in today’s time.
6 lakhs per annum for people in income bracket
At the same time, people with an annual income of Rs 6 lakh can get a home loan of up to Rs 6 lakh and get a subsidy of 6.5 percent from the government on the interest rate. Due to which there are a savings of Rs 2,219 in monthly EMI, these savings are up to Rs 2 lakh 46 thousand 625 over a period of 20 years.
So far, how many houses have been built in the PM Awas Yojana and how many people have benefited from this, information about all these things has now been released by the government. Pradhan Mantri Awas Yojana (Grameen) was launched by Agra on 20 November 2016 by Prime Minister Narendra Modi.
Under this scheme, the construction of one crore new houses is to be ensured by 31 March 2019. Out of these, 51 lakh houses are to be built by 31 March 2018. To meet this challenge, the Ministry of Rural Development is taking several steps with the State Governments to construct 51 lakh houses under the Pradhan Mantri Awas Yojana (Rural) by March 2018.