Govt offers clarity on loan subsidy under PMAY for middleclass buyers

Govt offers clarity on loan subsidy under PMAY for middleclass buyers

Union Minister, Venkaiah Naidu has announced the guidelines for the implementation of central government’s CLSS (Credit Linked Subsidy Scheme) for homebuyers in the middle income group (MIG) segment. The scheme will bring down the equated monthly instalments (EMI) by over Rs 2,000 for middle class homebuyers with annual incomes between Rs 6 and 18 lakh. The benefit is a part of the PMAY (Pradhan Mantri Awas Yojna).

This interest subsidy will be provided on home loans for construction or purchase of house with carpet area of 90 square meters by those earning up to Rs 12 lakh per annum and of 110 square meters by those earning up to Rs 18 lakh per year. No processing fee will be charged by banks or housing finance companies from the applicants under CLSS.
Under the scheme, the government has focused on women with greater preference to widows, single working women, backward classes, scheduled castes and tribes, differently abled and transgender people. The centre has allocated Rs 1,000 crore in the year’s Union Budget for CLSS component.

National Housing Bank (NHB) on Wednesday also signed memoranda of understanding with 45 housing finance companies, 15 scheduled banks, 2 regional rural banks, 1 cooperative bank, 4 small finance banks and 3 non-banking finance companies-micro finance institutions for implementation of CLSS(MIG) component of PMAY(Urban). This scheme is not only poor people, but middle class is also on top of PM’s agenda. So, Middle class homebuyers will get more benefits in home loan subsidy scheme.

March 24, 2017 / by / in , , , ,
Online generated documents will now be verifiable in Noida/Gr Noida

Authority has announced that all documents generated online will now have unique bar codes and digital signatures which will make them easily variable. Noida and Greater Noida Authority had launched online delivery of services for over 16,000 industrial, institutional and commercial properties in December 2016. Both authorities are working hard to make its online services effective.

The services available online include completion certificate, mutation of land, permission for mortgage, water bill payments, lease rent deposit and transfer memorandum etc. This facility will be implemented within a week at both Authorities.

The availability of online services has improved the ease of doing business in both cities, with approvals of plans becoming much faster and simpler.

March 23, 2017 / by / in ,