New Housing Scheme like PM Awas Yojana to be Announced Soon
After seeing the impressive participation that the Pradhan Mantri Awas Yojana is getting the central government is now planning to launch another similar housing scheme under which home loans will be given at 6-7% interest rate.
About the new housing scheme
The new housing scheme is expected to be announced in the upcoming Union budget of 2017. The central government is already discussing with the Reserve Bank of India about the home loan amount that would be given under this new scheme and also about the interest rate at which the home loan will be given. The name of the new scheme has not yet been revealed.
The main objective of this scheme would be revive the housing sector of the country which has been affected due to the demonization. The money that comes up from the demonization will be used for this scheme. But the scheme will be implemented only after the calculation of the amount earned from demonization is completed.
Speciality of this New Housing Scheme
Under this scheme it is expected that a loan of up to Rs.50 lakhs would be given to the beneficiaries at an interest rate of 6% or 7%. This subsidized interest will be applicable for the first time home loan applicants only.
Experts are of the view that this scheme, which comes with lower interest rate, will act as a boost for the housing sector in the country. This scheme too will have the same objective like that of the Pradhan Mantri Awas Yojana. But then the target group of this scheme might be slightly different than the Awas Yojana but this scheme would also cater to the lower income group. The biggest attraction of this scheme would surely be the interest rate of the scheme will attract the lower income and also medium income groups of the country.
The exact launch date of this scheme has not been revealed yet. But then it is expected that the scheme would be launched in the first quarter of the coming year. Overall this scheme would aim at providing houses to the people who do not have a house yet but the particular features of the scheme will be revealed only after the revenue from the demonization has been calculated.
It is expected that this new scheme would come with attractive and beneficial features that would attract a lot of beneficiaries to it. One has to wait in order to get further details about this scheme.
With the announcement of new housing scheme from the central government, the expectation level of the normal middle class families across has been reached its highness.
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