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Modi announces sops for house buyers

Modi announces sops for house buyers

New Delhi: In an effort to provide affordable housing for urban poor and middle class, Prime Minister Narendra Modi today launched two housing schemes and said that the beneficiaries will get four per cent exemption on home loan of Rs nine lakh while three per cent on Rs 12 lakh under Pradhan Mantri Awaas Yojna.

Addressing the nation after 50-day of demonetization drive announced on November 8, 2016, Prime Minister said, "The government launches two new housing schemes. We want to encourage poor to buy houses. Under PM Awaas Yogna uptil Rs nine lakh interest rates will be four per cent less than usual and upto Rs 12 lakh will get three per cent exemption.

Asking banks to take care of poor's need, Mr Modi said, "The banks should keep the interests of the poor in their mind. They must take appropriate steps for their welfare since the housing had become unaffordable for middle and lower middle class people."

Similarly, the prime minister also announced to build 33 per cent more houses in rural areas under Pradhan Mantri Awaas Yojna.

And for those who want to construct new house or to make an extension into the existing house will get three percent waive on housing loan on the amount of uto Rs 2 lakh. —UNI

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