PM Awas Yojana: If married, you will get a benefit of Rs 2.67 lakh, know the details
New Delhi. Pradhan Mantri Awas Yojana is a wonderful scheme of the Modi government. Under this scheme, home buyers get a benefit of Rs 2.67 lakh on a home loan. This benefit comes in the form of subsidy on the interest paid on home loans. A subsidy (maximum) of Rs 2.67 lakh is given by the Central Government on the interest of home loan under PM Awas Yojana. Ever since this scheme started, a large number of home buyers have benefited from this scheme by lakhs of rupees. The PM Awas Yojana was started with the aim of every family having a home by 2022. But to take advantage of this scheme it is necessary to fulfill certain conditions. One of these conditions is associated with married couples. Let’s know its details.
This is the rule for married people
If you are married, be sure to know these rules before applying for the PM Awas Yojana, otherwise you may face problems later. Keep in mind that either or both of the spouses can apply for this scheme together. Both cannot apply to take advantage of separate PM housing scheme. That is, you can get subsidy of maximum Rs 2.67 lakhs together with your spouse or alone.
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Income will be considered as a single unit
According to this rule, the income of a married couple will be considered as one unit. The PM Awas Yojana is an initiative of the Government of India to provide affordable housing to the urban poor with the goal of building 2 crore affordable houses by 31 March 2022.
There are two components to the plan
The scheme has two components. The first among these is the Pradhan Mantri Awas Yojana (Urban) for the urban poor and Pradhan Mantri Awas Yojana (Rural) for the rural poor. The scheme is merged with other schemes to ensure the convenience of toilets in homes, Saubhagya Yojana electricity connections, Ujjwala Yojana LPG gas connections, access to drinking water and Jan Dhan Banking.
How to get subsidy
Borrowers in the EWS (Economically Weaker Section) and LIG (Low Income Group) categories (annual household income up to Rs 6,00,000) receive interest subsidy of 6.5 per cent per annum on loans up to Rs 6,00,000. Borrowers from MIG (Middle Income Groups) 1 category (annual household income between Rs 6,00,001 to Rs 12,00,000) will get interest subsidy of 4% per annum on loans up to Rs 9 lakh. Borrowers in the MIG 2 category (annual household income between Rs 12,00,001 to Rs 18,00,000) get interest subsidy of 3% per annum on loans up to Rs 12 lakh. The maximum loan period should be 20 years.
When did the scheme start
The subsidy amount, which is given over a period of 20 years, ranges from 2.30 to 2.67 lakh rupees. Please tell that it has been more than 5 years since this scheme started. The PM Awas Yojana was launched on 25 June 2015.
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