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Government Home Loan schemes





Build Your Dream Home with Government Schemes that Provide 4 Lakhs Rs for Middle Class People:

Do you have a dream to build your own house? This is the best time to fulfill it. Central - State governments are providing better schemes to get lakhs of rupees as subsidy for less income holders or middle class people.

Indian government aims to provide a house to all the Indian families. For this, central and state governments work together. Indian citizen who has a dream to make an own home can utilize the right scheme.

'Life Mission' Program of Kerala Government:

Kerala government made a target to make all the Keralites an owner of a house. For this there is a scheme called 'Life Mission'. These schemes are not only for poor people who have less income but also for middle class men.




There is no need to decide this is not for government employees. These schemes are not for people who are going to build a house. This chance is also for people who had already built their house recently.

There are special housing schemes those give 4 lakhs Rs to middle class people and those give 2.67 lakhs Rs subsidy in the interest of housing loan.

Reduce Your Housing Loan EMI with PMAY (Urban) Scheme and Get 2.67 Lakhs as Subsidy:

Pradan Mantri Avaaz Yojana (PMAY - Urban) is a central government scheme to give chance to the urban people for building their own house. This is a credit linked scheme which gives subsidy in the home loan. This can be utilized by the people who build their dream home in 3 municipalities and corporations in Kerala (urban area).

You can apply for the bank loan along with the PMAY application. Your account will receive 2.67 lakhs Rs after the legal procedures. You can get great reduction in the interest and there by your EMI will reduce.

This golden chance of interest subsidy is also for the loan holders who took home loan after 2015 June 17. But your house must be in urban area.

How PMAY Scheme of Central Government Useful for Government, Bank Employees:

This scheme satisfies government/bank employees by giving interest subsidies as their income. The employee who has an annual income 3 lakhs - 18 lakhs scale can get this subsidy. If your application passes you will get 2.67 lakhs Rs in your bank account.

The validity of the scheme that provides 2.67 lakhs interest subsidy to high income people (12 - 18 lakhs) extended to 2019 March. Remaining all categories will get this till 2022 March.

Conditions To Get this Interest Subsidy Under PMAY Scheme:

Annual income must be in between 3 lakhs - 18 lakhs INR.

Not be an owner of a house anywhere in India.

House building or house purchasing must be in an urban area.

Under this scheme clients may be classified in to 4 categories.

Upto 3 lakhs Rs - EWS
3 - 6 lakhs Rs - LIG
6 - 12 lakhs Rs - MIG1
12 - 18 lakhs Rs - MIG2



Below is a table that says information on each category.


EWS
LIG
MIG1
MIG2
Income
Up to
3 lakhs
3 lakhs
6 – 12 lakhs
12 – 18 lakhs
Interest subsidy
6.5%
6.5%
4%
3%
Maximum years
20
20
20
20
Loan amount for subsidy
6 lakhs
6 lakhs
9 lakhs
12 lakhs
Area
30sqm
60sqm
90sqm
110sqm
Maximum subsidy
2,67,280
2,67,280
2,35,068
2,30,156

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