- 1 Pradhan Mantri Awas Yojana Home Loan Subsidy For MIG
Pradhan Mantri Awas Yojana Home Loan Subsidy For MIG
Pradhan Mantri Awas Yojana Home Loan Subsidy For MIG is one of the interested scheme that issued by the Central Government. Previously the PMAY Home Loan Subsidy of MIG is implemented by the government this is a wonderful news for the people who belong to Middle Income Group (MIG). Now the MIG category people are able to buy a bigger house and now the government has increased the benefits of the scheme and extend the scheme. The new Subsidy Scheme was introduced by the Ministry of Housing and Urban Poverty Alleviation (MoHUPA) for acquisition/construction of houses (including re-purchase) to cater to the Middle Income Group (MIG) called Credit Linked Subsidy Scheme (CLSS) for Middle Income Group given the projected growth of urbanization in India and the consequent housing demands.
The current Pradhan Mantri Awas Yojana Scheme is also be implemented as a Central Sector Scheme. As per the latest modification, the people belonging to Middle Income Group (MIG) 1 whose annual income is up to Rs. 12 Lakhs would be able to buy or build a house of up to 1,200 sq.ft when compared to the previous 900 sq.ft. For MIG 2, whose annual income is up to Rs. 18 Lakhs per annum, the eligible house area has been increased to 1500 sq.ft. from the previous 1100 sq.ft. Get the latest Pradhan Mantri Yojana from our website.
Eligibility Of Pradhan Mantri Awas Yojana Home Loan Subsidy For MIG
• The beneficiary family should not own a pucca house either his/ her name or in the name of any member of his/ her family in any part of India.
• In case of a married couple, either of the spouses or both together in joint ownership will be eligible for the household under the scheme
• A beneficiary family must not have availed of central assistance under any housing scheme from Government of India.
Our Prime Minister Sri Narendra Modi was announced the CLSS of MIG on 31st December 2016. The government has implemented the Pradhan Mantri Awas Yojana Home Loan Subsidy For MIG up to the end of December 2017. Hence, the end date to avail the interest subsidy for MIG recently by 15 months. As per the increased closing date, the MIG home loan borrowers can get the benefits up to March 2019. So interested people can join the Pradhan Mantri Awas Yojana Home Loan Subsidy For MIG and make an own house.
PMAY Subsidy On Home Loan
Nowadays many of the middle-class people’s dream is to buy an own house. For all those candidates the government came up with a good news. The candidates are unable to find out the entire info of PMAY Subsidy On Home Loan. For those people, our advice is to check this page further. We have given the complete information of Pradhan Mantri Awas Yojana Home Loan Subsidy For MIG. Our main advice to the middle-class people makes utilize this golden chance that announced by the Central Government and fulfill your dreams by buying or building a new house.
In the previous years, the central government has issued only 900 sq.ft for the Middle Income Group (MIG) 1 people. And 1100 sq.ft for the Middle Income Group (MIG) 1. The government is providing the interest subsidy for PMAY Subsidy On Home Loan For MIG of 3% and 4% for a home loan amount of up to Rs. 9 Lakh and Rs. 12 Lakh respectively for a maximum tenure of 20 years.
Pradhan Mantri Awas Yojana Home Loan Subsidy calculator For MIG Details
In the below table you can check the overview of Pradhan Mantri Awas Yojana Home Loan Subsidy For MIG. So candidates can check it and make an estimate of MIG I and MIG II.
|Particulars||MIG I||MIG II|
|Household Income (Rs. p.a.)||6,00,001 – 12,00,000||12,00,001 – 18,00,000|
|Interest Subsidy (% p.a.)||4.00%||3.00%|
|Maximum loan tenure (in years)||20||20|
|Eligible housing loan amount for interest subsidy (Rs.)||9,00,000||12,00,000|
|Dwelling Unit carpet area||90 sq. mts.||110 sq. mts|
|Discount rate for Net Present Value (NPV) calculation of interest subsidy (%)||9.00%||9.00%|
Pradhan Mantri Awas Yojana Home Loan Subsidy For MIG Online Application Form
Before starting your application process, all the people make sure that whether they are eligible for Pradhan Mantri Awas Yojana Home Loan Subsidy For MIG or not. If you are eligible then just follow the below steps and apply online application form.
- At the time of Online Application Form candidates must and should have Aadhar Number with theirs. The Aadhar Number is mandatory for Pradhan Mantri Awas Yojana Home Loan Subsidy For MIG Application Form.
- If any of the candidates not having Aadhar Number those will be not eligible for Pradhan Mantri Awas Yojana Home Loan Subsidy For MIG
- Enter your Aadhar Number a new page will open.
- Fill up your details correctly
- Once verify the filled information
- Click on the submit button
- Save your details