The pradhan mantri awas yojana sikar is the housing plan going to done by the government. They are going to undertaken a project to construct near to two crore houses by the year of 2022. The central government will grant about INR 1 lakh to INR 2.3 lakhs amount for each house on the total project of house construction.
This will come as a part of a 6.5 percent interest rate subsidy scheme in which the previous schemes had an interest subsidy of about only 1 percent. Because of this new pradhan mantri awas yojana sikar house scheme the applicants from the lower income groups also may apply for the housing loan of with interest subsidy of 6.5 percent.
The term or tenure for these housing loans may go up to 15 years and the total benefit received by such loans subsidy will add up to the INR 1 to 2.3 lakhs each. Currently the housing loan interest rates have been estimated at about 10.5 percent therefore for making the subsidy as a major relief to the applicants.
| CLSS Scheme Type | Eligibility Household Income ( Rs.) | Carpet Area-Max (sqm) | Interest Subsidy (%) | Subsidy calculated on a max loan of | Loan Purpose | Validity of scheme | Max Subsidy (Rs.) | Woman Ownership |
|---|---|---|---|---|---|---|---|---|
| EWS and LIG | Upto Rs. 6,00,000 | 60 sqm (645.835 sqft) | 6.50 % | Rs. 6,00,000 | Purchase/Self Construction/Extension | 31/03/2022 | 2.67 Lacs | Yes * |
| MIG 1 ** | Rs. 6,00,001 to Rs. 12,00,000 | 90 sqm (968.752 sqft) | 4.00 % | Rs. 9,00,000 | Purchase/Self Construction | 31/12/2017 | 2.35 Lacs | Not Mandatory |
| MIG 2 ** | Rs. 12,00,001 to Rs. 18,00,000 | 110 sqm (1184.03 sqft) | 3.00 % | Rs. 12,00,000 | Purchase/Self Construction | 31/12/2017 | 2.30 Lacs | Not Mandatory |
The housing for all schemes will replace all the earlier government housing plans such as like the Rajiv Awas Yojana. According to this preliminary estimates the housing for all by the year 2022 will costs the central government about INR 3 lakh crore spread within over the next seven years.
In which the scheme guidelines have been finalized after many years of the negotiations with the states and the union territories said by the new reports. The following are the things of documents for applying this pradhan mantri awas yojana sikar house loan scheme and they are.
- The Adhar numbers of the beneficiary family are the mandatory for MIG category.
- The interest subsidy will be available for the maximum loan period of 20 years or it may be lower.
- The interest subsidy will be crediting the upfront to the loan account of the beneficiaries through the NBFC/Banks resulting in the reduced effective Equated Monthly Installment or housing loan.
- The Net present value of the interest funding will be planned at the discount rate of 9%.
- There is no cap on the cost of the property or loan amount.
Apart from this the pradhan mantri awas yojana sikar 2018 itself the government has made with the number of subsides and incentives for the improvement of housing in the urban areas. Among them the popular one is INR 1 lakh per applicant to the state governments for the development of the housing project in slum areas.
Eligibility things for the PMAY in sikar
As a first thing in the eligibility is that the person should not own a pucca home in his/her or in any name of his/her family members in any part of the India. The second thing is that, in case of the married couple is eligible either the spouse or both together has a joint ownership for the single subsidy.