Pradhan Mantri Awas Yojana is an initiative by Government of India to provide affordable housing to the urban poor. It has a target of building 20 million affordable houses by 31st March 2022. When you purchase a house using home loan you are needed to arrange for a down payment too. To encourage home buyers PMAY scheme offers interest subsidies on home loans. There are certain eligibility criteria for Pradhan Mantri Awas Yojana , one need to follow these to get the best benefits. The percentage on this subsidy is decided according to your annual household income.
The Ministry of Housing and Urban Development has set up a simple online process via a two-page application form for people to apply. This form is available on the official Pradhan Mantri Awas Yojana website. You must provide your Aadhaar number and other personal details to check your eligibility. Additional Read Over Here: How to Check If You’re Eligible for the Pradhan Mantri Awas Yojana?
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AuthorAman Khanna is an experienced financial advisor who is well known for his ability to foretell the market trends as well as for his financial astuteness. He has an MBA in finance from Toronto University as well as years of experience delivering seminars on sound financial practices and debt management. |