You can still get benefit under PMAY even if your parents own a home

11 May 2017

You can still get benefit under PMAY even if your parents own a home

PMAY scheme is an excellent scheme, which main aim is to construct housing projects with affordable rates. You can avail the benefits of buying homes with low interest rates, if also your parents have their own home.

Are you interested to avail the benefits of Prdhanmantri Awas Yojana? Then, get the excellent advantages of the scheme by deciding a location, builder and the home Loan lender quickly. The currently introduced Credit linked Subsidy scheme (CLSS) for middle income group people known as MIG will be for a period of one year starting 1.01.2017. Your family members should be eligible for this to get the benefits of CLSS. This will impact on the loan amount and with this plan you can get maximum home loan. The main aim of this scheme is to provide housing benefits for all. 

What is the Procedure for Applying for this PMAY Scheme?

Buying flat needs a lot of planning. But the PMAY scheme made all these things easy and you can buy your desired home, even if your parents have their own home. You should know the proper procedure before buying a home under this scheme. You can apply PMAY scheme online: housing for all 2022 schemes. The scheme comes with a main aim of introducing more than 2 corers houses across the city in seven years. The target beneficiaries of the scheme would be middle class people who stay in LIG categories.

If you need an additional loan then you can get non-subsidized rate for your loan amount. The PMAY advantages can be availed by the individual who can take a loan for the construction of a house. Under this scheme the area of the house may vary for different categories. You can avail the primary loan from any leading organization such as commercial banks, housing finance companies, cooperative banks etc. There won’t be any processing charge applicable under this scheme. The impacts of PMAY benefits are numerous which are as follows:

  1. Affordable house buying can be possible by middle class people, Subsidy will be granted easily.
  2. The interest rate of subsidy is lesser under this Yojana, if the loan amount is greater; the borrower has to pay the normal rate of interest.
  3. Female members will be given more preferences in the allotment of houses.
  4. Ground floor facility will be given specially for disabled person.

Grab this golden opportunity and get the exclusive benefits of buying your dream house. To avail these benefits home buyers should present their Adahar cards just to avoid discrepancy. For availing the advantages, the builders had to complete the reliable housing projects in 3 years’ time. Explore the fantastic benefits of PMAY if you are a first time home buyer. This will give you a lifetime opportunity of buying your new home with an affordable cost. The middle income earners will specially get all the PMAY benefits. In MIG II category you can make 20% down payment and rest can be arranged through a loan.

The PMAY scheme will give you the advantages of buying a home from the developer and also if your parents owned a home, you can get the benefits. According to Government the housing for all by 2022 also provides for enhanced housing to the existing pucca house under the CLSS component. Therefore, a home loan provider cannot decline or not entertain an applicant searching home loan for the addition of room or any other additional amount, on the ground that the applicant is already possessing a pucca house. Avail all the PMAY options by evaluating the market and buy your dream home.