Government Housing Schemes

Most borrowers do not know what is NOC – a No Objection Certificate is a legal document provided by a financial service provider stating that there is no outstanding amount remaining and the loan is completely repaid. Why is an NOC needed? The No Objection Certificate is essential after loan closure due to the following reasons – If an individual applies for a new loan without an NOC , there is no legal proof whether the applicant has already set off their dues or not. An NOC increases chances of future loan eligibility. It provides a statement from the financial institutions, which keeps the borrower legally protected and reduces ambiguity during the sale of the property. The certificate removes the lien from the property. An applicant should keep in mind the what, why and how of an NOC to know everything about such a document. How to avail an NOC? To avail an NOC letter , an individual needs to request the financial institution for the same after the home loan

A home renovation loan, also known as a home improvement loan, is one of the major financial products that help individuals to deal with financial liabilities arising from old residential structures, extension of an existing building, damages caused by degraded plumbing, as well as corrosion of walls and ceiling due to age, or any other structural issue of the property. Individuals who want to fund their home renovation loan should also be aware of the important features of such loans to reap the maximum benefits. What are the features of home improvement loans?   The significant features of home renovation or improvement loans are as follows –  End-use – Individuals can use this loan to meet the financial burdens emerging from renovation, repairs, and extension of their residence. Individuals who have availed home loans can also seek top up loans from their lenders to avail finances necessary for home décor items, construction of a garage, repainting of interio

With the increase in the price of properties in the capital city, Pradhan Mantri Awas Yojana Delhi has already started 15 housing projects which comprise of essential facilities like water supply, security, electricity and recreation grounds. The price of these apartments begins from Rs.12.80 lakh. Registration process PMAYG registration can be done both online and offline. To apply online, one needs to visit the official PMAYG  website and fill up the necessary details. On entering the Aadhaar card number, an application form with personal information needs to be filled. Finally, an application number is provided to the applicant. For offline registration, one can visit any PMAY listed financial institution; he/she should carry their source of income proof. As soon as the approval is received, one can start to choose a property and finalise the deal. PMAY benefits Senior citizens and specially-abled people can access the ground floor flats. The houses are built us

The Government of India aims to provide housing facilities to every eligible citizen under several housing schemes. For instance, the Pradhan Mantri Awas Yojana Gramin is a govt. housing scheme that targets to allocate 20 million dwellings at the end of March 2022. What are the other government housing schemes? Some of the top government housing schemes in India are as follows – 1.       DDA - The plan initiated by the Delhi Development Authority aims to provide around 5,000 homes within June 2020. DDA also aims to launch nearly 1,000 luxury houses in Dwarka. This government scheme for housing plans to fulfil housing dreams of different income groups. 2.       Rajiv Awas Yojana - Rajiv Awas Yojana was launched in 2009 to provide slum-free India. The mission of this central government housing scheme was to encourage state and union territories to reduce illegal constructions and provide housing units of 21 to 40 square meters. 3.       Kerala State Housi

Income tax refund  arises in cases where taxpayers pay a higher amount compared to their actual tax liability (including interest). This refund is mentioned under Sections 237 to 245 of the Income Tax Act, 1961 and Form 30 is used for this purpose.  How to check income tax refund? Individuals can check their  income tax refund  through the Income Tax e-Filling website or TIN NSDL website. Via Income Tax e-Filling website Visit the official website. Login with username and password. Go to ‘View Returns/Forms’ Click on ‘Income Tax Returns’ and select the relevant assessment year to check the IT refund. Click on the acknowledge number, which will open a pop-up window. This window will display the IT refund of a taxpayer. Via TIN NSDL website Visit the official website. Enter the PAN details. Select the relevant assessment year. Enter the CAPTCHA. The current status of refunds will be displayed. How to cla