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Saturday, April 9, 2022

home loan subcidy process .

 How to claim subsidy in Pradhan Mantri Awas Yojana, know what is the whole process. 




Pradhan Mantri Awas Yojana has been started to fulfill the dream of all Indians to have their own house. In this, people buying a house for the first time on the basis of income up to a limit get subsidy.


new Delhi. PM Awas Yojana was started by Prime Minister Narendra Modi to give his pucca house to all the citizens of India, in which subsidy has been announced to provide pucca house to every eligible Indian citizen. This reduces the financial burden of building a house on the people. Know what is the process to get this subsidy.


How to get subsidy Beneficiaries get subsidy for home loans from banks or financial institutions that accept applications from common people under PM Awas Yojana. These banks do not give subsidy in their own way, but these banks also get subsidy money from Hudco and NHB. That is, banks have to claim money from Hudco and NHB on your behalf, for which they expect you to not only apply in the scheme through the right channel but also get its approval. That is, with the help of the approval on the documents given by you, the banks make further claims and after releasing the money, they adjust in your loan account.


How to claim benefits of PMAY interest subsidy.




Interest subsidy can be availed on both new home loan and existing home loan.

If you are taking a new home loan, then you go to the official web page of PM Awas Yojana.

Verify the Aadhaar number, after which you will reach the application form

Fill the application form with your details.

Print the application form after submission

Submit this application form along with other necessary documents to the Common Service Centre, Bank or Financial Institution and Banks. After which the bank will send it forward and pass on the benefit of subsidy to you.

If you have already taken a home loan, and are eligible to get the benefit of the loan scheme, then you can approach the bank or financial institution. Apply for more subsidy

After data verification and other verification, subsidy will be issued to you, which will be adjusted by the bank in the loan amount.


Who will get the profit of the scheme.

 



Economically Weaker Section (EWS): Rs 3 lakh. families with annual income up to

Low Income class (LIG): Rs 3 lakh to Rs 6 lakh. families with annual income between

Middle Income Group I (MIG I): Rs.6 lakh to Rs.12 lakh. families with annual income between

Middle Income Group II (MIG II): 12 to 18 lakhs. families with annual income between

What are the terms of the plan


No member of the beneficiary family should have a pucca house in India


The beneficiary family is not taking advantage of any housing scheme of the Government of India / State Government

The beneficiary family is not availing PMAY subsidy from any Primary Lending Institution (PLI)

Home loan borrowers who had availed PMAY subsidy cannot claim the subsidy again under Home Loan Balance Transfer during the loan 

For a married couple, singles individually or in joint ownership will be eligible for subsidy

Beneficiary families need to submit their Aadhar number to get benefits under MIG income group 


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