NEW DELHI: Thousands of first-time homebuyers from middle- and low-income groups in Noida and Greater Noida are being disadvantaged of interest subsidy of as much as Rs 2.6 lakh underneath the PM Aawas Yojana (city) since the UP executive hasn't sent the names for inclusion in the list of cities eligible for the convenience.
Homebuyers conscious about this benefit and hoping to avail of it have best discovered the acquire would possibly not accrue to them after you have their mortgage sanctioned and making the initial cost.
The National Housing Bank, which administers the scheme, stated the benefits cannot be passed on to homebuyers in those two cities till the housing and concrete affairs ministry allots a particular code for each and every town. The ministry can allot the codes best after the state executive sends the title of cities and cities. States like Kerala, Maharashtra, Andhra Pradesh, Haryana and Karnataka have already carried out so.
The housing and concrete affairs ministry has issued two adjustments to the PMAY (city) to extend the interest subsidy benefit to more homebuyers. While the scheme at first covered best 4,041 statutory cities, in step with Census 2011, the ministry had expanded it remaining June permitting the states to notify more cities. It had allowed them to have flexibility to include planning spaces of the statutory cities.
Following this change, 274 cities no longer in the Census have been integrated. UP did not to begin with ship a single title. Later, it sent three new names however that did not come with Noida and Greater Noida.
Again, remaining month, the Centre changed PMAY guidelines and expended the coverage of interest subsidy to all notified planning and development spaces. These integrated industrial development government, particular development government or the sort of authority.
But UP has no longer but sent the names of 2 cities. "Until there is a specific town code allotted by the housing and urban affairs ministry, the beneficiaries don't get the interest subsidy. We have not stopped any beneficiary to get the benefit," an NHB legitimate stated.
Prime Minister Narendra Modi had introduced interest subsidy scheme for homebuyers in city spaces who fall underneath two categories of middle income groups in December 2016. This came into impact from January 2017. Under the scheme, middle income staff beneficiaries with annual income of Rs 6 lakh to Rs 12 lakh get an interest subsidy of 4% on a 20-year mortgage component of Rs nine lakh. Those with annual income of Rs 12 lakh to Rs 18 lakh get 3% interest subsidy. The home consumers pay complete interest for loans beyond the required limit.
Homebuyers conscious about this benefit and hoping to avail of it have best discovered the acquire would possibly not accrue to them after you have their mortgage sanctioned and making the initial cost.
The National Housing Bank, which administers the scheme, stated the benefits cannot be passed on to homebuyers in those two cities till the housing and concrete affairs ministry allots a particular code for each and every town. The ministry can allot the codes best after the state executive sends the title of cities and cities. States like Kerala, Maharashtra, Andhra Pradesh, Haryana and Karnataka have already carried out so.
The housing and concrete affairs ministry has issued two adjustments to the PMAY (city) to extend the interest subsidy benefit to more homebuyers. While the scheme at first covered best 4,041 statutory cities, in step with Census 2011, the ministry had expanded it remaining June permitting the states to notify more cities. It had allowed them to have flexibility to include planning spaces of the statutory cities.
Following this change, 274 cities no longer in the Census have been integrated. UP did not to begin with ship a single title. Later, it sent three new names however that did not come with Noida and Greater Noida.
Again, remaining month, the Centre changed PMAY guidelines and expended the coverage of interest subsidy to all notified planning and development spaces. These integrated industrial development government, particular development government or the sort of authority.
But UP has no longer but sent the names of 2 cities. "Until there is a specific town code allotted by the housing and urban affairs ministry, the beneficiaries don't get the interest subsidy. We have not stopped any beneficiary to get the benefit," an NHB legitimate stated.
Prime Minister Narendra Modi had introduced interest subsidy scheme for homebuyers in city spaces who fall underneath two categories of middle income groups in December 2016. This came into impact from January 2017. Under the scheme, middle income staff beneficiaries with annual income of Rs 6 lakh to Rs 12 lakh get an interest subsidy of 4% on a 20-year mortgage component of Rs nine lakh. Those with annual income of Rs 12 lakh to Rs 18 lakh get 3% interest subsidy. The home consumers pay complete interest for loans beyond the required limit.
Noida homebuyers losing out on central interest subsidy
![Noida homebuyers losing out on central interest subsidy]()
Reviewed by Kailash
on
February 07, 2018
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