How To Buy House Under Pmay

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.

How to buy house under pmay. Rs 10 lakhs and you can arrange the remaining amount of rs 40 lakhs through a loan. You are planning to buy a house worth rs 50 lakhs. The government has extended the deadline for the affordable housing clss till 31st march 2021. If you haven t applied to the pmay scheme yet then you can apply for pradhan mantri awas yojana online. The pmay online apply process is quite easy.

Credit linked subsidy scheme. You or any member of your family is not an owner of a pucca house. You have to log onto the official pmay website and click on the citizen assessment button. What is pradhan mantri awas yojana. 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.

For the ews category and 60 sq. 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. Get a house under pradhan mantri awas yojana in 21 days. 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. Beneficiaries will get advance interest subsidy of up to 6 5 on home loans for 20 years along with other benefits.

Your minimum down payment would be 20 i e. A pucca house is one which is made of high quality material. 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. 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.

The govt is planning to build around 2 crores of affordable houses by 2022 in a phased manner. Is there any size restriction for houses availed under pmay clss. This way you can also enjoy pmay benefits as well as additional home loan benefits. Following are some other conditions that you must fulfill. Should i buy a house which is provided under pmay only.