PMAY Noida Housing Scheme 2018- 80,000 Houses Under Pradhan Mantri Awas Yojana to Investors

Published Date - 15 February 2018 10:16:36 Updated Date - 15 February 2018 10:18:49

When the Pradhan Mantri Awas Yojana (PMAY) was launched in January this year, many people living on rent in and around Delhi considered it a golden opportunity. Rough estimates showed they would be able to save as much as Rs 2.50 lakh on their home purchases under the scheme.

Uttar Pradesh  Government promises to deliver 80,000 houses in Noida to the investors till the end of March 2018. Subsequently, investors will receive these houses in Noida, Greater Noida and Yamuna Expressway Areas. Accordingly to complete its promise, govt. will also take strict actions against the builders who are unable to deliver these houses on time. UP govt. is going to provide houses under Pradhan Mantri Awas Yojana (PMAY).

This Noida Housing Scheme will benefits the investors in getting their flats. Subsequently, the state govt. is going to deliver 40,000 homes till the end of December 2017 and the remaining 40,000 till March 2018. This is a step to cover more home buyers under the initiative of “Housing For All” by 2022.

This scheme is in the interest of investors who wishes to own their houses in the city. Furthermore, the state govt. will take strict actions against negligent builders on the basis of reports of physical and financial audit performed in the previous 3 years.

Delivery Process of houses in Noida

UP govt. is going to streamline the entire process of distribution of houses. Accordingly, govt. will categorize the builders in 3 different categories:-

  1. First Category – All the builders who are solvent for delivery of houses on time.
  2. Second Category – Builders who are willing to deliver houses and are securing various measures for the same but are unable to do so due to some minor issues in other projects.
  3. Third Category – All those builders who are already in debt and are unable to deliver the houses.

The state govt. will keep a track of the builders to ensure quick delivery of the proposed number of flats. UP govt. will address the problems of the builders in order to avoid any further delay in delivery of homes.

UP state govt. is going to help builders who needs the assistance of co-developers for successful delivery of houses. However in case of builders negligence towards buyers, authorities will take strict actions against the builders.

UP CM Yogi Adityanath makes this announcement before the PM event of launch of Magenta Line (Delhi Metro). The state govt. is making every possible effort to help buyers to get their homes with the help of authorities and government. Furthermore, this move will help in completion of the struck projects in the interest of home buyers.


Other terms

It is worth mentioning here that if you have an annual income of Rs 12 lakh, you get an interest subsidy of four per cent for a loan of up to Rs 9 lakh. Similarly, if your household annual income is Rs 18 lakh, you would get an interest subsidy of three per cent for loans up to Rs 12 lakh. If one is from the economically weaker section or the low-income group and earns less than Rs 6 lakh annually, one gets an interest subvention of 6.5 per cent on loan of up to Rs 6 lakh.



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