State Some Schemes For a Home Loan

There are many housing schemes currently in the country, submitted by the central government and the government at various times. The government's current position on housing is very encouraging if it has plans to achieve 'Houses for All' by the end of 2022. The housing of all people by the year 2022 sounds very much in demand. However, there are many housing programs currently in place to help achieve this. HDFC Home Loan provides its customers with the ease of these schemes.

Pradhan Mantri Awas Yojana (PMAY)

The 'All Houses' initiative came into effect on 17 June 2015. The Pradhan Mantri Awas Yojana Scheme is responsible for achieving the desired outcome in urban areas. It is a type of credit-related support scheme there; Interest grants will be provided for the acquisition and construction of the house. 

Pradhan Mantri Gramin Awas Yojana

With the acquisition of ‘Housing for All’ in 2022, the Indian government has introduced this social program to provide affordable housing for rural people. PMAY-G has increased its target to 1 crore cities. Under PMGAY approval of 3% at a mortgage interest rate of up to Rs. 2 pounds. The permit can be used to upgrade an existing home or to build a new house in a rural area.

Its key characteristics are:

• Arrange the nation, the release schedule, the free prisoners, non-SC / ST employees under the BPL category can benefit from this program.
  
  
• The family should not have a pucca house.
  
  
• The family should only have beneficiary partners or unmarried children.

DDA Housing Scheme

Each year, the DDA introduces a new system to identify certain parts of Delhi to provide the DDA housing program for the economically weak sectors. By 2019, 18,000 apartments are targeted at Dwarka, Vasant Kunj, Rohini-34, Kalkaji, and South Delhi.

The registration fee for the LIG house is Rs. 1 lakh, for MIG and HIG housing for Rs. 2 lakhs, Janta flat is Rs. 10,000, with 1BHK of its Rs. 15,000, and for EWS Rs. 25,000.

Rajiv Awas Yojana

Rajiv Awas Yojana was launched in 2009 to bring illegal construction within the legal framework and to promote non-slum India. The plan under RAY is for the first time to prepare the Slum Free City Plan and then prepare the project for the selected shack.

Its key purposes are:

• Improving the provision of housing, basic public infrastructure, and services in informal settlements.
  
  
• Facilitate a supportive environment to increase credit connections for the urban poor.
  
  
• Plan on how to protect informal settlements and affordable housing.
  
  
• As part of Rajiv Awas Yojana, on March 3, 2013, the government introduced the Affordable Housing Program
  
  
• Funding from the central government is provided to the EWS / LIG in the number of dollars. 75,000 units per unit of size 21 to 40 sqm.
  
  
• In 2015, the program was revived by the Central Government in the Pradhan Mantri Awas Yojana program.

NTR Housing Scheme

Through the NTR Housing Scheme, the Andhra Pradesh government aims to build around 10 lakhs of houses for Rs. 16,000 crores. Phases two and three of the program began in January and June 2018, respectively. Under the program, 1% of the world's urban population will be repatriated for housing for the poor. The list of beneficiaries is expected to be released in December 2019, and the housing plan will come into effect on March 25, 2020, for the Ugadi event.

Tamil Nadu Housing Board Scheme

Through Tamil Nadu, the government program offers apartments for sale to LIG, EWS, MIG, and HIG at low prices. After availing the scheme the interest payments can be calculated using the home loan EMI calculator.

Mhada Lottery Scheme

The Maharashtra government, through the Mhada Lottery Scheme, provides 1384 houses in various sections in Pune, Mumbai, Nagpur, and Aurangabad. Apartments will be distributed in the lottery. The price of the EWS flat is Rs. 14 lakhs; the price of LIG primary grades is between Rs. For 20-25 lakhs, the price of MIG includes ranges between Rs. 35-60 lakhs and the price of HIG housing are between Rs. 60 lakhs to Rs. 5.8 characters.