Pradhan Mantri Awas Yojana 5 Year Lock On Houses | Read New Guidelines
Pradhan Mantri Awas Yojana 5 Year Lock – The Central Government is going to put a 5 year lock on the PPradhan Mantri Awas Yojana Houses. This means that under the Pradhan Mantri Awas Yojana, the house owners will not be able to sell their houses for five years. This has become theoretically agreed and it will be announced soon. It is being said that this step is being taken to bring the benefit of the scheme to the real beneficiaries. Currently, 54 lakh houses have been sanctioned under the Pradhan Mantri Awas Yojana and about 8 lakh homes are ready. Pradhan Mantri Awas Yojana 5 Year Lock
Pradhan Mantri Awas Yojana 5 Year Lock
According to sources, the houses constructed under Pradhan Mantri Awas Yojana could be misused. People can take houses under the Pradhan Mantri Awas Yojana and sell them to property dealers. In this case, the subsidy given by the government for the loan will go to waste. The High Commissioner of the Finance Ministry says that the purpose of the government is that those who do not have their own house, they get the house. That is why the government is giving so much subsidy on the loan. If it is misused then there will be no justification for this scheme.
Therefore, the Central Government will implement this lock period of Pradhan Mantri Awas Yojana houses very soon. However, agreement has already been made for this decision.
Pradhan Mantri Awas Yojana New Guidelines
The government had recently made changes in the rules of the Pradhan Mantri Awas Yojana. These are as follows –
- If a person’s annual income is up to Rs 18 lakh, then he can now buy a house of 21,500 sq ft.
- Such homes can save 2 lakh 30 thousand as interest subsidy on home loans. In the new rules, the government has made a substantial increase in the size of category I and category 2 of the middle income group i.e. MIG homes.
- Now, in MIG-1, 160 sq.m. i.e. about 1722 square feet and 200 square meters of MIG-2 ie i.e. 2153 square feet have been included in the Pradhan Mantri Awas Yojana.
- Those who earn 6-12 lakh in MIG-1 have loan entitlement. At the same time, those who earned Rs 12-18 lakh in MIG-2 have loan entitlement. In MIG-1, the customer gets 4% loan subsidy. In MIG-2, the customer gets 3% loan subsidy.
- If your annual income is between 12 to 18 lakh rupees then you will get a discount of 3% on interest rates up to Rs 12 lakh. Similarly, people earning 12 lakh rupees per year will get a loan of upto 9 lakhs, which will provide subsidy of 4 per cent on interest rates.