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2.5 Lakhs subsidy on a building a house under PMAY

Posted on 28 Oct 2022

Categories : Real Estate Development (109) IT Development (21) Super Corridor Development (41) Residential Project (19) Infosys Indore (3) Indore News & Updates (13)


Under the Pradhan Mantri Avas Yojna, the loan is provided to any person who has a dream of building a home and comes under the Middle Income Group (MIG) category I and category II. Under the said scheme, the government is providing the subsidy of Rs, 2.5 lakhs on home loans. People are given the subsidy on the basis of their economic ground and the category under MIG. 

After the applicant has applied under the scheme, the government decides the names of the applicants who are eligible to avail the benefit under the Act on the basis of various criteria and upload them on the official website of Pradhan Mantri Avas Yojna. 

If you want to build your house and are wanting to avail the benefits under PMAY then the applicant should have some important documents. These documents include proof of identity, proof of address, proof of income, property papers and documents related to the current loan as well as a 6-month repayment bank statement. 

The applicant should also have an Aadhar card, valid passport, driving licence, photo enabled credit card,  latest utility bill, salary slip of last 2 months, last 6 months bank statement of salary account and latest form, and should have filed Income Tax Return. 

Under the PMAY scheme, the loans are provided under the Middle Income Group (MIG), Weaker Income Group (LIG), and Economic Backward Classes (EWS) category. The maximum amount of subsidy granted is Rs. 2,35,068 and 2,30,156 for MIG 1 and MIG II categories respectively. A person having an annual income of Rs. 6 lakh, will get a loan of Rs 6 lakhs, and a subsidy of Rs. 6.67 lakhs. 

The PMAY scheme was brought in force by the government in 2017 and it targets to bring 2,508 cities in 26 states under it by 2022. For this, the Central Government has extended the credit-linked subsidy scheme under Pradhan Mantri Avas Yojna till 31st March 2021.


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Frequently Asked Questions — Super Corridor Indore

Common questions about flats, plots, pricing and connectivity on Super Corridor, Indore–Ujjain Road.

Super Corridor Indore is a major planned development corridor connecting important parts of Indore with the airport and the Indore-Ujjain Road. The area has emerged as a prominent residential, commercial and IT destination because of its planned infrastructure, wide roads, improving connectivity and proximity to major IT campuses. It offers flats in Super Corridor Indore, residential plots, row houses, commercial properties and rental accommodation.

Super Corridor is located along the Indore-Ujjain Road and extends through an important growth zone of eastern Indore. It provides connectivity towards Indore Airport, Vijay Nagar, Rau, Ujjain Road and other major parts of the city, making property on Super Corridor Indore attractive for both home buyers and investors.

Super Corridor Indore is developing rapidly because of planned infrastructure, IT and commercial development, residential projects, road connectivity, airport proximity and improving public transportation. The presence of major employment hubs has also increased demand for flats, apartments, rental homes and commercial properties in Super Corridor.

Yes, Super Corridor is becoming an important residential area in Indore, particularly for families, IT professionals and property investors. Buyers can find 2, 3 and 4 BHK flats, residential plots and independent housing options along with access to schools, hospitals, workplaces, retail facilities and major transportation routes.

Super Corridor can be a suitable location for families looking for modern residential projects in Indore. New housing developments offer features such as landscaped areas, security, parking, recreational spaces and community amenities. Its improving connectivity to schools, hospitals, workplaces and other city areas adds to its residential appeal.

Property options on Super Corridor Indore include residential flats, apartments, residential plots, row houses, independent homes, commercial shops and rental properties. Buyers can choose between ready-to-move homes, under-development projects and land parcels depending on their budget and investment objectives.

Important destinations around Super Corridor include Indore Airport, major IT campuses, Vijay Nagar, Ujjain Road and several residential and commercial developments. The corridor's location provides access to employment hubs and important parts of Indore, which is one of the major reasons for increasing residential demand.

Super Corridor has connectivity towards Vijay Nagar, one of Indore's major commercial and residential destinations. Travel time depends on the exact location, traffic and route, but the corridor's road network provides an important connection between the eastern growth areas and established parts of Indore.

Super Corridor provides convenient connectivity towards both Indore Airport and Vijay Nagar. The exact distance depends on the location of a particular residential project or property, but airport connectivity is one of the key advantages associated with properties on Super Corridor Indore.

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