Post-demonetization benefits are coming to the people in different forms. As per a recent announcement, the government is offering 3-4% interest subsidy onhome loan of Rs 9 lacs to 12 lacs, which will reduce the EMI by Rs 2,000 approximately. You can avail this benefit if you are buying a new property in an area that comes under Pradhan Mantri Awas Yojna (PMAY); your annual household income needs to be in the range of 12-18 lacs.
This is a step to encourage middle-class people in urban areas to buy their dream home. The benefits can be availed by families comprising of wife, husband and unmarried children as well as by the unmarried and earning young adults who want to buy their first-home in an urban location. [Read more…]