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Know how much subsidy you can get in the Pradhan Mantri Awas Yojana?

Friday - March 15, 2019 3:20 pm , Category : WTN SPECIAL
Pradhan Mantri Awas Yojana considered as PM Modi's ambitious scheme
Pradhan Mantri Awas Yojana considered as PM Modi's ambitious scheme

Pradhan Mantri Awas Yojana: Eligible people can get beneficiaries up to Rs 2.6 lakhs

MAR 15 (WTN) - If you are going to buy or build your new house, then before starting that read this article because if you will follow the points given in this article, then you can get subsidy of up to 2.6 lakhs. As you know, the Modi Government had started the Pradhan Mantri Awas Yojana on November 20, 2016 to promote cheap homes and if you are eligible under this scheme, then you can get subsidy of up to Rs 2.6 lakh for buying or constructing a new house.



For your information, let you know that under the Pradhan Mantri Awas Yojana, a loan of up to Rs 18 lakh is exempted and the amount of subsidy is fixed in it. Under which, those earning up to Rs 12 lakhs can avail 4% annual interest subsidy on up to 9 lakh rupees.



At the same time, people earning Rs 18 lakh annually can avail 3% interest subsidy on up to Rs 12 lakhs amount. But on the loan taken above this you have to pay interest at the rate of the bank. These exemptions will be available to you for loans up to 20 years. The last date for availing this ambitious plan of the Modi Government is 31 March 2020.



But there are certain conditions for availing this scheme, as those who already have a house will not be able to avail of this scheme. Apart from this, if any person in the family gets the benefit of housing under the government scheme then they will not be able to take advantage of this scheme. To avail this scheme, you have to give your Aadhaar card under which you get the benefit of up to Rs 2.6 lakhs. Under this scheme, the limit for the carpet area for MIG 1 category is 160 square meters, while the limit for MIG 2 is 200 square meters.



According to the rules of the Pradhan Mantri Awas Yojana, saving of Rs 2.39 lakhs will be to those who earn 12 lakh rupees. On the same, there will be avail subsidy of 2.30 lakh rupees for those earning between Rs 12 to 18 lakhs. Those earning Rs 6 lakhs will get a subsidy of 2.46 lakhs from this scheme.



For your information, let you know that the benefits of this scheme can also be taken for home repairing. Under this scheme, subsidy can be availed by taking loans from any government or private bank, housing finance company or co-operative bank.

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