Affordable Housing

Discover your dream home within your budget, Choose an affordable house in the finest location. Kindly register

 

Q. What is “ Affordable housing”?

Affordable housing refers to the housing units that are affordable for those with income below the average household income.

 

Q.What are the different categories of affordable housing?

In India, affordable housing is provided for middle-income people and the economically weaker section (EWS) and low-income group (LIG). They have considerably low levels of income.

 

Q. Why developer promote their project as affordable housing projects?

In a view to divert developers from the luxury segment to affordable segment, Indian govt. decided that the affordable housing segment will get infrastructure status, which means many benefits to developers in terms of tax, completion time, enhanced refinancing facility, etc.

 

Q. How can I get the subsidy on loan under Pradhan Mantri Awas Yojna to buy an affordable house?

Credit Linked Subsidy Scheme is one of the components under the Pradhan Mantri Awas Yojana (PMAY). Under it, the central government offers interest subsidy on home loans availed by applicants who fall under EWS (Economically Weaker Section)/LIG (Low Income Group)

 

 

Housing for EWS by SDS Group to fulfill the dream of a common man to own a house.

(Exclusively marketed by Velocity Propbuild Private Ltd. having corporate office

at SNG Plaza, Near Pari Chowk, Greater Noida. U.P.)

Give wings to your dreams and book your apartment by just Paying Rs.11000/-

Project Name. : SDS EWS

Location: Pari Chowk, Greater Noida, U.P.

Type. : 1 BHK

Super Area: 363 Sq.ft.

Possession: Ready to move

Specifications: Electrical-Copper Concealed Wiring, lights, Plug Points

Flooring- vitrified tiles

Wall -finish internal Wall Plastered and Painted

External finish- long-lasting Paint

Doors/Windows & bathroom fittings

Bank Loan. : HDFC & UBI

Parking. : Covered parking for Bike with each Flat

Approval & Registration: Project has attained all the approvals such as CC, O.C., and flat can be registered

 

Velocity housing is having more option for  EWS in Noida Extension and Greater Noida 

 

 

BHS- 16 scheme    

Greater Noida Industrial Development Authority has launched Residential Scheme BHS-16/2013 to fulfill the dream of economically weaker class and low-income group to own a house and invited applications to form for registration of four-storied flats in Sector - MU-II, Greater Noida & Sector-10 Greater Noida west.

 

If you missed the opportunity and could not book the flat, it is not late even now, still, you can buy a home at extremely affordable prices.

 

A total of 7215 flats were built in both the sectors, out of which 5250 affordable units of 30 sq.meter has been developed in sector Mu-II and remaining in sector-10 Greater Noida west U.P.

 

These are ready to move in flats with complete basic amenities to live a peaceful life. What are you waiting for, grab the opportunity, and turn your dream into reality.  We at velocity facilitate the complete process till the registry. We also guide to avail housing loan and subsidy in a view to support our buyer in gaining the benefit of interest subsidy provided by govt. through PMAY, housing for all CLSS for EWS & LIG.

 

We wish everyone in India should have his own home.

 

 

Q.What are the criteria of EWS (Economically Weaker Section)/LIG (Low Income Group)?

 

EWS refers to those households whose annual income is up to 3 lakh, and LIG refers to those households whose annual income is Rs. 3 lac to 6 lac.

 

Q. What do you mean by MIG- I & MIG-II?

 

MIG -I refer to those households whose annual income is Rs.6.01 lac to Rs.12 lac, and MIG-II refers to those households whose annual income is Rs. 12.01 lac to 18 lac.

 

Q. Can I avail the benefit of this scheme if I fall into any of these categories?

No, there are many eligibility criteria, and you should meet all these criteria.

 

Q. What is the eligibility to avail the benefit of interest subsidy under PMAY?

 

Eligibility criteria:

• Should not own a pucca house in your name or the name of any other member of the family.
• The ownership of the house should either be in the name of the female member of a household or joint ownership with your wife (applicable to EWS/LIG and revised EWS/LIG schemes only).
• Should meet the income criteria as per various categories under the scheme.
• The carpet area of the house should be 30 sqm for EWS beneficiaries, 60 sqm for LIG beneficiaries, 160 sqm for MIG – I beneficiaries, and 200 sqm for MIG – II. 
• Should not have taken a home loan or availed interest subvention benefit under the scheme. 

Q. What is the maximum subsidy amount for each category?

The subsidy is given on interest-only & the maximum subsidy amount is 

EWS/LIG -              - Rs.2.20 lac

Revised EWS/LIG - Rs.2.67 lac

MIG - I                    -  Rs.2.35 lac

MIG - II                  -  Rs.2.30 lacer

 

 

Q. What is the carpet area limit for affordable housing?

 

Any house built on an area of 60 square meters or less in metros and 90 square meters or less in non-metro cities with a ceiling value of 45 lac in both the cases will now be categorized as affordable housing.

 

Q. What is the deadline for the Credit link subsidy scheme (CLSS)?

 

The Government has announced on Thursday (May 14, 2020) extension of the deadline for the affordable housing credit link subsidy scheme till March 2021. The period for CLSS had expired on March 31, 2020. The announcement was the part of the second trance of the govt-relief package.

 

Q . What is an affordable rental housing scheme announced by finance minister Nirmala Sitharaman?

 

The Central Government will soon provide affordable rental houses to migrant workers and urban poor. It was announced on May 14, 2020, in the relief package announced by FM.

The scheme will be brought under Pradhan Mantri Awas Yojana (PMAY) scheme.