Prime Minister People under housing scheme Home Loans up to Rs 2.5 lakh are available on loans taken for construction. That is, you get a subsidy of up to Rs 2.5 lakh from the government for building a house, which is beneficial for you in a way. Many people have benefited under this scheme and you can also benefit from it. But it often happens that you also apply for this, but you do not get the benefit.
Indeed, often you do not get subsidy for various reasons. In such a case, you know the reasons why you are not getting the subsidy. Let’s know some special things related to subsidy
What could be the reason for the subsidy to stop
Under the PM Awas Yojana, only those with an annual income of Rs 3 lakh, Rs 6 lakh and Rs 12 lakh are given subsidy. If you have not applied for the subsidy according to your income, then your installment is stuck. Apart from this, the applicant of this scheme should not already have a house, so keep in mind that the applicant fulfills this condition. Also, only women apply for it.
On what basis do you get subsidy?
The subsidy in this scheme depends on the loan amount and income. Thus, 6.5 per cent credit subsidy is available only for loans up to Rs 6 lakh. For this, those earning up to Rs 12 lakh can avail a four per cent subsidy on loans up to Rs 9 lakh. In addition, those earning up to Rs 18 lakh get a three per cent interest subsidy on loans up to Rs 12 lakh.
Financial assistance is available under the housing scheme
For the first time under this scheme, the central government has allocated Rs. Subsidies at interest rates ranging from Rs 2.35 lakh to Rs 2.50 lakh. At the same time, the scheme provides loans of up to Rs 6 lakh over a period of 20 years to the economically weaker and lower income groups. Under this scheme loans are given to three classes of people. These three categories are determined on the annual income of the person. So far 1.26 crore houses have been constructed across the country under this scheme.
This is how you can apply
The government has created a mobile based application for the beneficiaries of the scheme. This application can be downloaded from Google Play Store. Once downloaded, you can login with your mobile number. You need to create a login ID for this first.
After this, an OTP i.e. one time password will come on your mobile number. Using the password, you will be logged in to the plan’s website. Then you have to fill in the information that will be asked. The Central Government selects the beneficiaries after applying here to get the house. The final list of beneficiaries is released later, in which you can verify your name.