All information (including but not limited to the property area, floor size, price, address and general property description) on the GS Townships website (“Website”) is provided as a convenience to you, and in placing the information on the Website, GS Townships endeavours to provide up to date, accurate and correct information. However, readers are requested to get in touch with the authorized business development executive for actual information as on date. In no event will G S Townships offer any warranty on the information made available, or be liable for any loss or damage including without limitation, indirect or consequential loss or damage about, the use of information in this website. By using or accessing the website, you agree with the Disclaimer without any qualification or limitation. Design, specifications, floor plans, brochures and interactive plans etc., are subject to change without prior notice. Computer generated images; walkthroughs and render images are the artist’s impression and are an indicative of the actual designs. GS Townships do not accept any liability (direct or indirect) for any injury, loss, claim, damage or any incidental or consequential damages, including but not limited to lost profits or savings, arising out of or in any way connected with the use of any information, or any error, omission or defect in the information, contained on the Website.

Prices displayed on the Website are current at the time of issue, but may change at any time and are subject to availability.

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25 August 2018

Is government supporting home buyers

Yes. Government is supporting first time home buyers substantially by its scheme PMAY - Pradhan Mantri Awas Yojana.

What is Pradhan Mantri Awas Yojana ?

PMAY or Pradhan Mantri Home Loan Subsidy Scheme is a Credit Linked Incentive Scheme (CLSS) through which home loans are made available at interest rate of 6.5% onwards. This loan can be availed up-to 15 years and should be used for the specific purpose of housing. This scheme is introduced by Indian government to uplift the economic growth and for better living of the citizens whose income in a year is below 6 lakhs. Prime Minister, Mr Narendra Modi with a noble mission launched this scheme with an aim to have 2 crore housing in India by 2022. This scheme can be availed by anyone irrespective of their caste, religion and creed.

Who is Eligible for PMAY?

  • The family net income should be between ₹600,000 to ₹1,800,000 per annum. This includes the combined income of husband and wife.
  • The house should be their 1st house.
  • The house should be a new construction
  • Applicants those who have a household income in the range of ₹600,000 to ₹1,200,000 and buying home upto 1720 square feet carpet area are eligible to get a subsidy of 4% and those who have a household income in the range of ₹600,000 to ₹1,800,000 and buying home upto 2150 square feet carpet area eligible to get a subsidy of 3%.

How to avail PMAY?

Step 1: Apply for home loan from any Bank or NBFC whoever you find best for your requirement and providing subsidy.
Step 2: Visit the official website of PMAY and download the subsidy scheme application form.
Step 3: Take a printout of this form and fill up the required details with accurate information.
Step 4: Submit the filled form along with the required documents to an office accepting these in the nearby locations.
Step 5: If you are found to be eligible your application will be forwarded to CNA.
Step 6: If your application gets approved, CNA will send the subsidy amount to the particular lender who have lent you the money.  
Step 7: This subsidy amount will be credited to your home loan account, hence decreasing the total principal amount of your loan.

Note: The views expressed above are from the pen of the author with no liability attached either to the company or writer. Information from public web sites is simplified for better understanding. Users are advised to cross check the facts before taking any decision.