I was also unaware about the housing scheme until one of my friends introduced me to it. Affordable housing, often known as low-cost housing, is a program which offers houses to the less earning individuals at the cheapest rates and it is controlled by state or national authority. The people who are eligible for this scheme are from the middle class who earn less income and they are identified by the respected authorization or state. The factors that determine affordable housing are property dimension, earning and budget.
The Central Government stated in 2015 that it will construct 20 million houses by 2022 for middle class and poor peoples under the Pradhan Mantri Awas Yojana with the benefit of Credit-Linked Subsidy Scheme (CLSC). But unfortunately, the response to this scheme was not that good, which concerns the scheme. Let’s see affordable housing scheme eligibility.
Pradhan Mantri Awas Yojana
Who is eligible for affordable housing?
1) The scheme can be availed by the family which consists of husband, wife and unmarried son/daughter.
2) A married couple is allowed for single or joint ownership for the housing scheme.
3) The person who is applying for the respected housing scheme, should not have availed any scheme or money from the Indian Government under any Central Government scheme.
4) For the EWS category, the family income should be around Rs.3 Lakh with an approximate area of about 650 square feet.
5) For the LIG category, the family income should be around Rs.6 Lakh with an approximate area of about 650 square feet.
6) For the MIG 1 category, the family income should be around Rs.6 Lakh to Rs.12 Lakh with an approximate area of about 1700 square feet.
7) For the MIG 2 category, the family income should be around Rs.12 Lakh to Rs.18 Lakh with an approximate area of about 2100 square feet.
This is the meaning of affordable housing and eligibility criteria for the same.
Apart from this there are many state sponsored social housing schemes under which people of certain income groups can apply. For example, in Maharashtra, the government releases applications for MHADA, and CIDCO housing schemes. Similarly, in Delhi, DDA invites applications for affordable housing from people of Delhi.
You can receive a house loan quickly, with little paperwork, and at a reasonable interest rate with a NoBroker home loan. Read More: Where can I find affordable housing? What is MHADA eligibility and application process How to check LIC housing loan status? What is the exemption limit for housing loan principal?Your Feedback Matters! How was this Answer?
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Who is eligible for affordable housing?
sahil
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2022-01-18T23:51:39+00:00 2022-01-19T17:32:28+00:00Comment
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