New Delhi, Business Desk. Do you have any central employee in your family? If yes, then during the Covid Mahamari there is a good chance to build houses on cheap loans. This is because the government is giving money to build the house (House Building Advance) at low interest. If you take this amount till March 31, 2022, then only 7.9 percent interest will be available on this advance. Let us tell you that in 2020, Finance Minister Nirmala Sitharaman made many big announcements for the housing sector and export sector to accelerate the economy. These included reducing the interest rate on House Building Advance. Now its term has been extended till March 31, 2022. Both central and state employees can take this advance.
What is House Building Advance
The government gives house building advance to the central and state employees. In this, employees can take advance for construction on their own or their wife's plot. Advance is based on bank loan repayment. Employees get this fund to buy or build a house. But, with the condition. A government employee gets this advance only once during the job. All permanent employees are eligible for House Building Advance. Also, temporary employees with continuous service of 5 years can take advantage of this facility.
where to get
Employees can apply for this advance in their department. Under the campaign of the Modi government, at this time fast action is being taken on such advances. The funds required to buy the house will be available through a special window. This video has experts who help in availing housing loans easily. Along with this, relief has been given by the government in the External Commercial Guidelines for Affordable Housing.
related to the simple interest
The special thing about House Building Advance is that it is related to simple interest. Interest is charged on a slab basis. Slabs also range from 50 thousand to 7.5 lakh rupees. In this, a maximum of Rs 7.5 lakh is available. Overall, this advance can be repaid at a lower rate of interest.
what are the conditions?
Your House Building Advance file will be passed only after seeing the basic pay of 34 months and the price of the house. Also, the Length of Service is seen.
The advance will be available on these
To buy a plot or house
for house construction
To buy a plot from a cooperative or group housing society
To buy a house under self-financing scheme
big relief to employees
Finance Minister Nirmala Sitharaman had said last year that this would directly benefit government employees. The government believes that the role of government employees is important in increasing the housing demand. In such a situation, by giving relief to government employees, the demand will increase in the coming days. Under the Pradhan Mantri Awas Yojana, 1.95 crore people have benefited. The government is making every effort to provide affordable houses.
Pakistan: Ready to talk to army chief for betterment of Pakistan- Imran Khan
Former Pakistan Prime Minister and Pakistan Tehreek-e-Insaf (PTI) chairman Imran Khan said that h
Kangana Ranaut has once again given a controversial statement against Mahatma Gandhi. He has post
The period of confusion that started in Rajasthan after the election results were announced on De
President Tayyip Erdogan, standing just a few steps away from the election, has promised that he
The meritorious Divyang selected in the general category will no longer be accommodated in the re
Turkiye-Syria Earthquake Once again two strong tremors of the earthquake have been felt in Turkiy
Salman Khan secretly married Sonakshi Sinha? Know what is the truth of this photo
Wedding pictures of Bollywood superstar Salman Khan and Sonakshi Sinha are becoming fiercely vira
There is an outcry in the country over Omicron. In the last 24 hours, 2,58,089 new cases of coron
Bihu Festival 2023 Date: Today i.e. on 14 April 2023, the Bihu festival is being celebrated. This
Amidst the ongoing political turmoil in Maharashtra, Sunil Raut, brother of Shiv Sena leader Sanj
