The subsidy for home buyers under the Pradhan Mantri Awas Yojana is about to expire. If you also want to take advantage of 2.67 lakh rupees under this scheme, then you have time till 31 March. In fact, under this scheme, a subsidy of Rs 2.67 lakh is given to the home buyers by the government. The benefit of this scheme will not be available after 31 March.
Under the Pradhan Mantri Awas Yojana, this subsidy is given for buying a house in any city of India. This is a government-initiated scheme, which aims to provide affordable homes to people in urban and rural areas. Under this, CLSS or credit-linked subsidy is given to first time home buyers. Meaning if you are buying a house on loan then there is a subsidy on the home loan.
Subsidies are available on the basis of earnings
Those who earn up to 18 lakh rupees annually get the benefit of this scheme. On the other hand, if your income is up to 6 lakh rupees annually, then you get a credit-linked subsidy of 6.5 percent. If the earning is up to 12 lakh rupees, then there is a subsidy of 4 per cent. Those earning 18 lakhs per annum are given a subsidy of 3% on loans up to Rs. 12 lakhs.
These are the conditions
To avail of this scheme, some conditions have been given by the government. First of all, whoever wants to take advantage of this scheme should not have any house in their name. On the other hand, if you are already taking a subsidy, you will not get a subsidy on other home loans. If you are a married couple, then you can take a subsidy on the joint home loan. But only one subsidy will be available.
These papers must be
To take advantage of the Pradhan Mantri Awas Yojana, you should have documents like PAN card, Aadhaar card as identity proof. As an address format, you should have a voter ID card or any such proof that you have your address. As an income form, you have to show a bank statement of 6 months. The property for which you are taking a loan should have documents like sales deed, registration certificate.
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