How To Buy House Under Pmay

However under pmay mig 2 category applicants are eligible for a subsidy of 3 on loan of upto rs 12 lakhs.

How to buy house under pmay. You are planning to buy a house worth rs 50 lakhs. If you haven t applied to the pmay scheme yet then you can apply for pradhan mantri awas yojana online. 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. 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. A pucca house is one which is made of high quality material.

You or any member of your family is not an owner of a pucca house. The govt is planning to build around 2 crores of affordable houses by 2022 in a phased manner. 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. In this post we will guide you on how you can avail subsidy under the pmay scheme. The pmay online apply process is quite easy.

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. 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. To avail the home loan subsidy you must be first eligible for it. Your minimum down payment would be 20 i e. Should i buy a house which is provided under pmay only.

Is there any size restriction for houses availed under pmay clss. Credit linked subsidy scheme. You can apply for a house which is provided under this scheme or you can buy a house from a project pvt where 30 of affordable houses in the project are ear marked for ews category or. For the lig category. 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.

For the ews category and 60 sq. Married couples can apply for subsidy under individual or joint ownership of the property. This way you can also enjoy pmay benefits as well as additional home loan benefits. You have to log onto the official pmay website and click on the citizen assessment button. Get a house under pradhan mantri awas yojana in 21 days.