look news india
PM Housing Scheme-Urban 2.0 Scheme: The Narendra Modi government made an important announcement regarding the Pradhan Mantri Awas Yojana-Urban 2.0 (PMAY-U) in the first general budget of its third term. While presenting the budget on July 23, Finance Minister Nirmala Sitharaman said that 1 crore houses are to be built for the urban poor and middle class families. A few days later, the Union Cabinet also approved this proposal. Let us know about this scheme in detail.
Launched in 2015
Pradhan Mantri Awas Yojana-Urban was launched in 2015. 1.18 crore houses were sanctioned under this scheme. According to government data, more than 85.5 lakh houses have been completed and handed over to the beneficiaries. Apart from this, others are under construction.
Benefits of Interest Subsidy Scheme
In this scheme of the government, the beneficiary will also get the benefit of interest subsidy scheme. Under the interest subsidy scheme, the beneficiaries come from economically weaker section (EWS) / low income group (LIG) / middle income group (MIG) families. These are the people who do not have a permanent house anywhere in the country.
Families with annual income up to 3 lakhs come under EWS. Hence, families with annual income between 3 to 6 lakhs have been accommodated under LIG. Thus, families with annual income between 6 lakhs and 9 lakhs come under MIG. All these families will be given subsidy on home loan.
Ketli Sub-City
According to the official statement released by the government, the beneficiary who takes a home loan up to Rs 25 lakh will be eligible for 4 percent interest subsidy on the previous loan of Rs 8 lakh for a period of 12 years. This home loan is for a house up to Rs 35 lakh. The eligible beneficiaries will be released a subsidy of Rs 1.80 lakh through push button in 5 annual installments. The beneficiary can check his account through the website, OTP or smart card.
