Pradhan Mantri Awas Yojana Subsidy: How To Save Rs 2.6 Lakh On Your Home Loan

Centre targets construction of 26 lakh houses in 2018-19, 26 lakh in 2019-20, 30 lakh in 2020-21 and 29.80 lakh in 2021-22.

The eligible beneficiaries especially those are belonging to SC/BCs have been benefited of schemes being run by the departments like Mukhyamantri Vivah Shagun Yojana, Dr BR Ambedkar Awas. of over.

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This would provide further impetus on home buying both in urban and rural areas, though the caps on interest rate subsidies. The Pradhan Mantri Jeevan Jyoti Beema Yojana (PMJJBY) provides life.

News About Pradhan Mantri Awas Yojana. No PMAY subsidy for house reconstruction. There will be no subsidy provided under the Pradhan Mantri Awas Yojana (PMAY) scheme for those who already own a house and want to undertake any modification or reconstruction activities. This scheme is only for those who do not already own a ‘pucca house’.

Another area of itch is the Rs 1.5 lakh cap on Section 80 C exemptions, which includes the home loan principal repayment. vice versa to offset taxes on gains.” Though the Pradhan Mantri Awas Yojana.

There is a very good news for the home seekers, central government has announced even more subsidy in home loan interest rates under Pradhan mantri awas yojana.prime minister Narendra Modi announced the interest subsidy on housing loans taken under Pradhan Mantri Awas Yojana during his speech to the nation on 31st December 2016.

Mumbai: ICICI Home Finance Company (HFC) Ltd has set itself an ambitious target of growing its loan book to Rs30,000. This initiative also incentivises borrowers, with subsidy payment under Pradhan.

Pradhan Mantri Awas Yojana Housing Scheme For All – icic bank offers credit linked Subsidy Scheme (CLSS) on home loans for all urbans, Lower (EWS/LIG) & Middle Income Group (MIG – I & II) families under Pradhan Mantri Awas Yojana.

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The interest subsidy available to the MIG-1 group is for loans up to 9 lacs at 4% while for MIG2 with a higher slab of income, the interest subsidy (3%) is available up to 12 lacs, as any amount above these limits will attract the normal, home loan rates. The maximum benefit available to a borrower under this scheme works out to around Rs.2.6 lacs.

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