Know about the Government Housing Schemes Available in India
To
make ‘Housing for All’ initiative a success by 2022, the
Government of India, along with different state governments, has
launched several government
housing schemes to
provide affordable housing to Indians.
Here
is a list of existing housing schemes that every prospective home
buyer should be aware of –
Pradhan
Mantri Awas Yojana:
PMAY was launched in 2015 to provide affordable housing solutions,
primarily to the underprivileged sections of the society. Under this
scheme, first-time homebuyers can avail subsidies on their home loan
interest. This scheme is available across every state and union
territory.
Pradhan
Mantri Gramin Awas Yojana:
Also, launched in 2015, this housing scheme aims to provide financial
assistance to the economically challenged sections of the demography,
especially in rural areas. Under this scheme, applicants will benefit
from government assistance to build a pucca house with basic
amenities.
DDA
housing scheme:
Delhi Development Authority launched this housing scheme in
2018. Under this scheme, they will offer apartments to homebuyers of
low-income groups, middle-income group, and high-income groups along
with reservations for applicants from the economically challenged
sections.
MHADA
lottery scheme:
Maharashtra Housing and Area Development Authority launches this
lottery every year. Buyers from every income group can avail this
scheme and benefit from it as per their income gradient if selected
in the lottery.
Tamil
Nadu Housing Board Scheme:
Launched in 1961, this scheme still continues providing housing
assistance to various income groups.
The
main objective of these government
housing schemes
is to eradicate the issues of homelessness and improve the overall
living condition of the Indian demography. Aspirant homeowners can
purchase a house or a plot by availing a subsidised home loan under
this scheme from select HFCs.
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