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The 'gift' given by the government to the new purchasers will be known, Rajina Red
If you are going to buy a new home now, this news is especially for you. The government has increased the carpet area especially in the buildings constructed under the Prime Minister's housing scheme. So you will get a relatively big house now under this scheme. The benefit will be special to the middle income group. PM Modi launches scheme in 2016 Its deadline was kept in March 2019. On one hand, in rural areas, 40 lakh houses have been built. On the other hand, 5 lakh houses have been constructed due to land and money problems in urban areas. There are also 22 lakh houses to be constructed here.
Under the Prime Minister's Awas Yojana, the category-I and Category-II household carpet area has been increased under the Middle Income Group by the government. Area in category-I has been increased from 120 square meters to 160 square meters. On the other hand, the area of the house in category II has been increased from 150 sqm to 200 square meters. Loan for a home earning between Rs. 12 and 12 lakh annually in Category-I and 12 to 18 lakh in Category II.
Early home in rural areas
1 crore houses will be allocated in rural areas by the end of this year. A total of 1.18 crore houses in cities will be completed in 2022 instead of 2020. The objective behind allocation is to get people to believe they will get the house. Let us tell you that 45 lakh houses have been approved before this.
The middle class will gain a lot
This change will make the middle class the greatest beneficiary. It is worth mentioning here that people earning Rs. 6 lakh each in category-I are eligible for loan. On the other hand, people earning between Rs. 12 to 18 lakh in category II, are eligible for loan. In the Category-I, customers get 4 percent subsidy. In the Category-II, customers get 3% loan subsidy. Customers will get a direct benefit of 2,35,068 in Category-I. On the other hand, in the category II, consumers will have the direct benefit of Rs 2,30,156.
Benefits of subsidies will also get
The decision of the government will be effective from 1 January 2017. That is, if you have purchased a house after January 1, 2017 and bought it in the increased carpet area, you will get the benefit of subsidy under Prime Minister's Awas Yojana. The government has also informed that till June 11, subsidies of Rs 736 crore have been given to the people. Subsidy is given from the loan to the builder.
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