Take advantage of PM Awas Yojana before 31 March 2021, you will get a discount
For the beneficiaries of PM Awas Yojana, the Central Government is giving interest rebates through Credit Linked Subsidy Scheme. Also, the duration of this scheme will also be extended by one year. It is believed that the government may announce the general budget in this regard in February. Explain that the period of this scheme is till 31 March 2021. Now people who take advantage of this scheme will save millions of rupees as interest.
Under the PM Awas Yojana, if a buyer buys a house for the first time, he gets an interest subsidy on the home loan. The maximum amount of this subsidy is Rs 2.67 lakh. Sources have said that in view of the corona epidemic, the duration of the scheme will be extended, so that the loss-making real estate sector can also benefit.
What is PM Housing Scheme?
The Pradhan Mantri Awas Yojana or PM Awas Yojana was launched by PM Narendra Modi in his last term. It is a scheme run by the Central Government, under which the target is to provide pucca houses to as many families as possible by 2022 in rural and urban areas. Under this scheme, the government provides financial assistance for the construction of pucca houses featuring all basic facilities like power supply and sanitation. Under this, the credit-linked subsidy is given to first time home buyers.
Know how to get the subsidy
A 6.5 percent credit-linked subsidy is available only for loans up to Rs 6 lakh. Those whose annual income is Rs 12 lakh, get a 4% interest subsidy on a home loan of Rs 9 lakh. People with an income of Rs 18 lakh per annum get a 3% subsidy on a loan of Rs 12 lakh. The loan term for all of these is 20 years. In addition to the amount of subsidized loan, interest on the loan has to be paid at the current rate.
