Home buyers get a subsidy of Rs 2.67 lakh, the scheme will continue for another year.

There is excellent news for affordable home buyers. The Central Government goes to increase the term of Credit Linked Subsidy Scheme (CLSS) under PM Awas Yojana for an additional year.

Which might be announced within the budget to be released in February. Currently the scheme are going to be effective till March 31, 2021. Its term within the general budget could also be extended to March 31, 2020.

Notably, the advantage of this scheme are often availed by an individual with an annual income of between Rs 6 lakh to 18 lakh. Under this scheme, a primary time buyer gets an interest subsidy on a home equity credit . The subsidy is up to a maximum of Rs 2.67 lakh. consistent with sources, the meeting on the preparation of the budget has reached a consensus on the difficulty . The subsidy should be continued in sight of the Koro crisis in order that the low-income people also because the realty sector can benefit.

This will still flow money into the realty sector. because the economy improves, sales of affordable housing will still grow rapidly PM Awas Yojana Gujarati.

what proportion subsidy is received
East Bank S. That. consistent with Lodha, if one's annual income is Rs 18 lakh. If he has taken a loan of Rs 12 lakh under this scheme for a period of 20 years at an rate of interest of 8.5 per cent, his EMI becomes Rs 10,414. A subsidy of three supported internet present value of the entire interest purchased 20 years is Rs 2.30 lakh. Such an amount are going to be reduced in his interest.

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