You can get cheap houses under these 5 government schemes, know how to avail the benefits

Government Schemes: The government offers the impoverished a number of programs that might make their lives simpler. New programs were introduced for daughters’ futures, including the PM Kisan Yojana for farmers and the provision of rations. In a similar vein, the government is implementing several programs to provide the impoverished access to housing, which offers affordable housing and apartments. Many provide low-interest financing for home construction. We will discuss five of these plans with you today.

Pradhan Mantri Rural Housing Scheme

The government had a plan to provide the impoverished housing under this system. It began as a ‘Housing for All by 2022’ program of the government. The government launched this program to provide India’s rural residents access to affordable housing. The government aimed to construct one crore homes under the PMGAY program. Moreover, villagers get a 3% discount on housing loans up to Rs 2 lakh.

Credit Linked Subsidy Scheme

Another component of PMAY is the Credit Linked Subsidy Scheme. It offers low- and middle-income people, as well as economically disadvantaged segments, support in relation to interest rate discounts. This service is available to all members of the target group at ICICI Bank. Up to Rs 2.67 lakh in interest subsidies are offered by the bank.

Rajiv Awas Scheme

This program was launched in 2009 with the intention of eradicating slums and unlawful development. This was to provide low-income communities in India access to essential social services. This called for the eradication of slums and the distribution of homes to residents.

MHADA Lottery Scheme

The Maharashtra Housing and Area Development Authority (MHADA) is a government housing initiative that operates like a lottery. This allows locals to purchase homes at reasonable prices. People from underprivileged areas may also apply for a portion of this program. Low- and middle-income groups, as well as economically disadvantaged parts, are eligible to apply.

DDA Scheme

In December 2018, the Delhi Development Authority Housing Scheme was introduced. Offering apartments to low-, middle-, and high-income groups was the initiative’s main goal. Nonetheless, this program is open to applicants from all walks of life. Everyone receives a flat at a different cost. This time, DDA began offering homes for as little as Rs 11 lakh.