Modi government has come out with great news for home buyers.
The government has made major changes in the size of the houses under the Prime Minister’s Housing Scheme. The carpet area of the MIG-I and MIG-II categories of the Middle Income Group has been increased. Area in MIG-I has been increased from 120 sqm to 160 sqm. On the other hand, the housing area of MIG II has been increased from 150 sqm to 200 sqm. MIG-I earns between 6 and 12 lakhs annually and MIG-11 gets loans for home earning between 12 to 18 lakhs.
The government’s decision to benefit from subsidies will also be effective from 1 January 2017. That is, if you have purchased a house after January 1, 2017 and bought it in the increased carpet area, you will get the benefit of subsidy under Prime Minister’s Awas Yojana. The government has also informed that till June 11, subsidies of Rs 736 crore have been given to the people.
Middle Class Will Get The Most Benefit From
this change, middle class will get the most benefit. It is worth mentioning that people earning Rs 6 lakh each in MIG-I are eligible for the loan. On the other hand, people earning 12 to 18 lakh rupees in MIG II are eligible for a loan. Customers of MIG-I get 4 percent loan subsidy. Customers get subsidy of 3% in MIG II. Customers will get a direct benefit of 2,35,068 in MIG-I. On the other hand, consumers will get direct benefit of Rs 2,30,156 in MIG II.
This Year Will Be Allotted Home
Economics Times According cities will be completed until the year 2020 instead of 2022 produced 1.18 million homes. On the other hand, 1 crore houses will be allocated in rural areas by the end of this year. The objective behind allocation is to get people to believe they will get the house. Let us tell you that 45 lakh houses have been approved before this.
In Rural Areas
, the purpose of home government to get the poor under home government scheme will be to bring the Prime Minister Awas Yojana to the rural areas. Before these areas will be given home. There will be a major change in getting the poor home and New India will be formed.
Uttar Pradesh Has 8 Lakh Homes
built under the Prime Minister’s Awas Yojana, the highest house in Uttar Pradesh. There were fewer homes in rural areas of the state. Due to this, in the last one year, the government has built 8 lakh houses in Uttar Pradesh. This is more than any state. Not only that, the people who take home have been given subsidy of Rs 1.2 lakh.