Thousands of middle and low-income groups, who did not dream of their first home in Noida and Greater Noida, could get the interest subsidy of 2.6 lakh rupees under Pradhan Mantri housing scheme (urban). The reason behind this is that there is noida and Greater Noida in UP’s Yogi Sarkar who have sent the names of the eligible cities to the Central Government. The people awaiting the exemption under the government scheme are aware of this after getting the initial payment and loans.
According to the National Housing Bank, which monitors the scheme, interests in Noida and Greater Noida can not be availed unless the Ministry of Urban Development releases the code for these cities. The ministry can issue cities codes only when the state government sent it to the cities. Kerala, Maharashtra, Andhra Pradesh, Haryana and Karnataka have been named after the cities.
The Housing and Urban Development Ministry also made two changes to increase the interest subsidy in the Prime Minister’s housing scheme (urban) to more home buyers. Under this scheme, 4,041 cities benefited, the ministry expanded the plan in June. 274 cities made after 2011 census were also included in the scheme. In the beginning, the name of one city was not sent from the UP. Later, 3 names were sent but Noida and Greater Noida were missing from it.
Last month, the Central Government made changes in the Guideline of Prime Minister Housing scheme and included all notified planning and development areas in coverage of interest subsidy.It also included Industrial Development Authorities, Special Development Authorities and other such authorities.
Noida and Greater Noida’s names have not been sent inspite of the inclusion of industrial authorities.PM Modi announced to give interest subsidy to the people of middle income group, who bought the first house in urban areas in December 2016. It was implemented from January 2017. Under the scheme, homebuyers with an annual income of Rs 6 lakh to 12 lakh will be given 4% interest subsidy on loan component of Rs 9 lakh for 20 years loan component.