Every citizen wants to own a house. Earlier, the prices was not allowing to commoners to have his or her own house. But, Pradhan Mantri Awas Yojana changed entire ecosystem. The scheme has identified the locations across the state where affordable houses are being built under the scheme. Pradhan Mantri Awas Yojana locations include Mumbai, Thane, Navi Mumbai, Panvel, Ambarnath, Ulhasnagar, Badlapur and Dombivali. PMAY Maharashtra aims to build 19.2 lakhs affordable houses in the state. To hasten the development, MHADA has now tied up with private landowners to build projects in urban areas. PMAY offers an interest subsidy of up to 2.67 lakh rupees on home loans to purchase properties registered under the scheme. The loan could also be used to fund the construction of houses and claim the same subsidy. The beneficiaries are allowed to claim it for up to 20 years.
Source – News On AIR
