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All you want to know about Pradhan Mantri Avaas Yojana (PMAY)

Avail the benefits of PMAY

5 Points you should know about PMAY

PMAY scheme comprises of four key aspects. One, it aims to transform slum areas by building homes for slum dwellers in collaboration with private developers. Two, it plans to give a credit-linked subsidy to weaker and mid income sections on loans taken for new construction or renovation of existing homes.

Why should I care?For those in the lower and mid-income groups, the PMAY reduces the cost of acquiring a home by ₹1lakh to ₹2.3 lakh.

The increase in the loan amount to ₹12 lakh and extension of the scheme to mid-income group may make more homes within the reach of the urban poor.

If you’re an investor, this scheme combined with a falling interest rate regime could mean improved loan growth for banks and NBFCs focussed on this segment.

A pick up in demand for affordable housing will not only provide a leg up to the performance of banks and housing finance companies, but can also support growth of other allied businesses such as cement and steel.

Read these articles :-

http://www.narendramodi.in/text-of-pm-s-speech-at-the-foundation-stone-laying-ceremony-of-pradhan-mantri-awas-yojana-in-chhattisgarh-414901

http://www.dailymail.co.uk/indiahome/article-3626479/Pradhan-Mantri-Awas-Yojana-PM-s-Housing-scheme-going-20-states-year-launch.html

http://economictimes.indiatimes.com/wealth/borrow/you-can-still-get-benefit-under-pmay-even-if-your-parents-own-a-home/articleshow/58003642.cms

http://realty.economictimes.indiatimes.com/news/residential/why-2017-is-the-best-year-to-buy-affordable-houses/58048099

http://pmjandhanyojana.co.in/awas-yojana-housing-for-all-2022-scheme/

Come 2018, all the incentives may not exist. Therefore, it is a good time to buy now if you don’t own a house.