Best 5 Government Schemes for Home Loan Assistance in India

In India, the people want to buy the homes but they have not money to buy the homes due to high inflation in their society. The Home is the basic need for the people which is necessary for all. The Indian government has encouraged the people and a type of loan issue of people to find out the way for buy the loan. You can buy the home with these government schemes in an easily way and efficient manner that help in an affordable pricing. Here are top 5 Government Schemes for Home loans Assistance in India:

1. Pradhan Mantri Awas Yojana (PMAY): 

This scheme was started from the June 2015 by our honorable Prime Minister Mr. Narendra Modi for urban and rural poor peoples. It ensures that housing in the urban and rural region or areas and providing a pucca house to all poor people who cannot afford the house. Some features are including in it that they must have

Eligibility:

·  The Annual income up to Rs.18 lakh (MIG-II).

·  The First-time homebuyers, and no other pucca house owned by the applicant.

Features:

·  The PMAY focuses on the women of SC/ST and other have disadvantages groups.

·  It targeted only the lower income group people, the poor people and the Economically Weaker Sections.

2. Pradhan Mantri Gramin Awas Yojana (PMGAY): 

This is also the scheme was from the 1September 2016. It is for those people who have not their personal home or homeownership, shortage of bricks, cement and type of material that is useful for build a pucca house in rural areas of poor people.

Eligibility:

·    Its beneficiaries from the selected through the Socio-Economic Caste Census (SECC) OF 2011.

·    The women of who has not their husband, focus on lower sections like SC/ST and landless laborers.

 Features:

·   The Financial assistance of Rs. 1.2 lakh in plain areas and Rs. 1.3 lakh in hilly or difficult regions.

·    The Houses must meet certain basic needs like kitchen, toilet, and electricity.

3. National Housing Bank Subsidy (NHBS) Scheme:

The national housing bank subsidy schemes to start for increase the homes and reduce the homeless people in India. It encourages the low, middle-class people to raise the loan and rebuild their house.

Eligibility:

·   Those people who have their EWS, LIG, and MIG beneficiaries.

·   The Housing loans from registered lenders and institutions.

   Features:

·   The Interest subsidy under CLSS for different income groups.

·   Available through NHB's tie-ups with various banks and housing finance institutions.

4. DDA housing Scheme (Delhi Development Authority): 

It is the scheme where you give a hose for those people who have not their personal homes in Delhi. It is helping schemes for middle class person through affordable pricing.

Features:

  . It is a regular scheme offering flats at lower prices in various categories as such LIG, MIG, HIG.

  . It focuses on both first-time home buyers and those people who belong from the disadvantaged sections.

Eligibility:

  . In Indian, the citizens above from the 18 years.

  . There is no homeownership of any type of property in Delhi at the time of application.

5. Kerala State Housing Board (KSHB) Schemes: 

This scheme is for the people of Kerala who have not their own homeownership in south India. They can take the loans for the housing repairing, building and the buying the land.

Eligibility:

  · It is for the residents of Kerala.

  · It is the different income criteria for various schemes under the KSHB.

Features:

  · It is the special schemes for government employees, NRIs, and the economically weaker sections.

  · It is easy terms and meet on lower interest rates.

So, these are 5 best government schemes which can hep to reduce the financial burden of the people head of the family who have not homeownership. This government schemes are very helpful for buy and build the homes with minimum costs.