The Economically Weaker Section (EWS) and Low Income Groups (LIG) have something to cheer for. The Pradhan Mantri Awas Yojana (PMAY) is here. This scheme is offering subsidy on interest rates charged on construction or purchase of a housing property. The living ability in the existing residence units can also be benefited from this scheme.
If we analyze the trends then we will see that the project is gaining grounds as developers are coming up with economically viable projects targeted at LIGs. The reason for that is they are eligible for Pradhan Mantri Awas Yojana.
However, there are some issues which is keeping both customers and investors rather alert. One of them is oversupply and delayed home possession, which are nothing new to this market. With the help of Pradhan Mantri Awas Yojana the situation is liable to change. Under this scheme lots of the people can take the benefit for Home Loan, with this plan you can avail Rs. 2,35000 subsidy loan EMI. The success of this Yojana is largely dependent on the planning of the developers to ensure that they are able to provide quality construction within stipulated time periods.
Here is what to look out for in PMAY:
- The percentage of Government subsidy
- The amount of Government subsidy
There are many people in the country who are will benefit from PMAY. Read the details of th Yojanan to see how it can change the LIG landscape - https://www.youthkiawaaz.com/2017/04/how-to-save-more-with-the-pradhan-mantri-awas-yojana/
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