Owning a home has always been considered as the biggest dream of our life and increase the chances of obtaining financial stability and security.
To facilitate and fulfil this dream, Government is trialling new schemes to help people to buy their first home.
Here are a few of the reasons that work to make your dream come true.
1. Rera Act
This significant act offers ease to real sector and brings the much-needed relief to homebuyers in many ways. Under RERA act, the work of the builders and developers will be held transparent and the homebuyers will have complete control over. Also, Buyers will be required to pay only for the carpet area – the area between the walls.
2. Reduction in Home Loan Rates
Reduction in Home loan rates will help buyers to fulfil their dream of owning a home. A steep reduction of 25 basis points in affordable housing loans to 8.35% for new borrowers. This rate cut is initiative of Prime Minister Narendra Modi’s vision of providing housing for all by 2022.
3. Subsidy
All middle class homebuyers with annual incomes of above Rs 6 lakh and up to Rs 18 lakh per year will be eligible for receiving interest subsidy on housing loans taken in 2017 under Pradhan Mantri Yojna.
4. Pradhan Mantri Awas Yojna
The scheme aims of constructing more than 2 crore house till 2022. The Beneficiary of the scheme would be the people living under EWS and LIG category. Home Buyers will find it easier to buy a home with these Act and schemes.
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