The Pradhan Mantri Awas Yojana is one of the best schemes that are on the hype these days, especially in the real estate industry. With the affordable housing sector that enlightens it, even more, it is high time that you should now make your wise investment of money in the realty sector. Before we jump on to the reasons, let’s just brush up on the introduction to these, first.
Affordable housing, as popularly defined, refers to a particular number of housing units that can be purchased by that section of the society, whose income lies below the median level of the country.
Pradhan Mantri Awas Yojana (PMAY), on the other hand, refers to a scheme introduced by the government of India, introduced under the “Housing for All by 2022”, to provide affordable homes to the Middle Income Groups (MIG), Lower Income Groups (LIG) and the Economically Weaker Sections (EWS) of the society who are homeless in both the rural and urban areas of the country.
So, now that we know what are the topics that we are going to actually talk upon, we must also know why is the investment made here, comparatively a better option for all. Therefore, from the numerous benefits provided, here the top five that need a special mention:
A. Subsidies Provided
The Lower Income Groups, as well as the Economically Weaker Sections of the society, are actually provided a subsidy, that ranges from Rs. 1,00,000 to 2,30,000. This, not just makes it easier for them to buy homes but ensures an action taken towards the problem of homelessness cropping up in our country.
B. Low-Interest Rates
The Pradhan Mantri Awas Yojana brings with it a promise of a considerable decline in the interest rates. If you have availed a loan under this scheme for an amount of up to Rs. 600,000, the actual interest rate to be applied would be 6.5% defying the current market rate of 10.5%. This would end up in reducing the amount for the monthly or yearly installments.
C. Females Preferred
There is a preference given to females, which means that now, even women can have a property or a home in their name without having to enter into major lawful technicalities. In simple words, females would be given a preference over the males, giving a boost to the idea of women empowerment.
D. Choice of Floors
If you are looking for flats that exist on the ground floor, be it for a senior citizen or for someone who is disabled physically to make it to the other higher floors, even that is a benefit as the scheme takes these minor things on for a higher consideration when going for allotment.
E. Environment-Friendly
The housing projects that are being made under this scheme are the ones that have to strictly follow certain regulations mentioned by the government, one of them is following environment-friendly techniques. Hence, these affordable housing projects are built by taking a proper concern towards the environmental factors.
Thus, if you are someone who has been looking for investing money into the real estate industry, the time is right because this scheme under the affordable housing sector not just offers a judicious use of money, but is also working hard towards a cause, that has long gone unnoticed. With more and more affordable housing projects coming under this scheme, it is only easing the initiatives taken by the government of India to actually work towards the problems caused by liberalization, privatization and globalization as a whole. Thus, go for PMAY, choose wisely and stay at ease for the future of your investment.
Signature Global is one of the acing real estate leaders in the affordable housing sector. With luxurious infrastructure and latest technological advancements, it offers people their dream homes with new and perfect craftsmanship. Some of its best projects include:
The Serenas, Sector 36, Gurugram
Andour Heights, Sector 71, Gurugram.
The Millennia, Sector 37D, Gurugram.Orchard Avenue, Sector 93, Gurugram.
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