Get a house in India

Getting a house in India might not be so difficult, There are various schemes of governments and the private sector. Many have benefited under Pradhan Mantri Awas Yojana, Ministry of housing and urban affairs, and started this scheme in 2015. This scheme is basically for the economically weaker sections and middle-income groups.

**

*** *** **

Following are the Norms for EWS, LIG, MIG I, and MIG II 

• EWS household with an annual income up to Rs. 3 lakh.
• LIG household with an annual income of more than Rs.3 lakh and up to Rs. 6 lakh.
• MIG I household with an annual income of more than Rs. 6 lakh and up to Rs. 12 lakh.
• MIG II household with an annual income of more than Rs. 12 lakh and up to Rs. 18 lakh.

The government also supports giving subsidies if you have taken money to buy a house, for example, if you have taken a loan of 10 lakh to buy a house, the government will pay 2.63 lakh and after the reduction amount, you have to pay out the loan. 

The best is to buy a house in the outer skirt of the city, it has many benefits

1) Cost is less.

2) You can get more area.

3) Less pollution compare to the city. 

And as you have observed the road transportation is increasing rapidly, roads are getting bigger and new flyovers are created to shorten the time of travel, Even in some areas metros are also running.

Before buying the house or property following documents are to be checked.

1) Sale deed paper of previews owner ( to ensure the property owner )

2) Property is nonagricultural land. when you buy property outside the city, The land is mostly agricultural land and you can make it for residence, hence the property should be N.A.

3) Property should be under the Town plan, Now this is very important, and many do not see this clause, Every city has its future planning and section of area ( like roads, parks, or other service areas), hence your property should be under T.P. residential plan. 

4) Map sectioned by the municipal corporation.

5) Property should be updated for all taxes paid. 

Avoid taking rental house:- If you are planning to take a house on rent, then think to buy the house on EMI, Today you can get an easy loan on a house for about 6 % to 7 %, Paying the rent can be replaced with EMI and the big part is after full EMI payment you will own a house. the rental house is only good if you want to spend time for a few months. Up to 90 % of the house can be taken as a loan and only 10 % has to be paid as a down payment, but that stands for up to 35 lakhs per house. Taking a house loan can help with tax benefits also.

The government is encouraging people to have their own houses under the Pradhan Mantri Awas Yojana. But it's pretty hard to get a house or apartment under the scheme. It's also important to know if the property is under town planning and under which zone industrial, residential or commercial. This blog will look at these issues and why it's important for the property to be under town planning. The government has launched Pradhan Mantri Awas Yojana to provide affordable housing to all. Under this scheme, the government is providing housing to all on the basis of their financial capacity. This scheme is being run by the Ministry of Housing and Urban Affairs. Pradhan Mantri Awas Yojana is financed by the Ministry of Finance. The scheme will be implemented in three phases to achieve the goal of housing for all. Pradhan Mantri Awas Yojana is one of the flagship social welfare missions of the present Government of India. The goal of this mission is to ensure housing for all by the year 2022 for the vulnerable groups and the lower-income groups. One of the major pre-requisites for applying for housing under PMAY is owning a proper and valid title deed of the property. The Pradhan Mantri Awas Yojana scheme of the government offers housing loans with interest subsidies. A home loan scheme that enables a regular salaried person to own a house of his own. To get a govt. subsidy for this loan, you will need to select a property that is under the scheme of Pradhan Mantri Awas Yojana. This scheme will always see if the property is under town planning and under which zone industrial, residential or commercial. You can always call us for the details of the Pradhan Mantri Awas Yojana scheme

1. Basics of PMAY.

Pradhan Mantri Awas Yojana (PMAY) is a government of India scheme to create affordable housing in India. The scheme has been launched by the prime minister on 25th June 2015. The aim of the scheme is to provide affordable homes to the urban poor in the country and also to achieve complete housing for all by 2022.

2. Benefits of PMAY.

The Pradhan Mantri Awas Yojana (PMAY) aims to make houses available for all by 2022. The current government has been moving in the direction of providing affordable housing by building affordable housing projects in various cities. The government is also planning to provide affordable housing in rural areas under PMAY. The current government announced the PMAY scheme in June 2015. This scheme has been launched to ensure housing for all in India by 2022. The scheme is not only limited to rural areas. It is also aimed to provide housing to the people in the urban cities.

3. How to apply for the PMAY?

The Pradhan Mantri Awas Yojana is the dream project of Prime Minister Narendra Modi. The scheme aims to provide housing for all by the year 2022. The housing will be provided by the rural poor through a partnership with the rural housing development agencies. The project has been launched with a budget of 2.04 lakh crores. The PMAY will be implemented in three phases from 2016 to 2022.

4. Who can apply for PMAY?

The Pradhan Mantri Awas Yojana is a scheme launched by the government to provide affordable housing for the poor. Anyone who is living in a house that does not have basic amenities like a toilet, kitchen, or any other room can apply for this scheme. The main idea behind PMAY is to provide proper housing for the poor, without which it is difficult for them to live a dignified life. The government believes that the poor should be able to live a life of dignity, and the best way to do so is to provide them with proper housing.

Conclusion: PMAY is a very good initiative, which will help the poor people of India to get the proper houses at a very cheap rate.