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.
The world's most expensive film Avatar - The Way of Water is releasing tomorrow. The film is made
Preparations for the Maha Kumbh are in full swing in Prayagraj. Many efforts are being made to we
With the fall of the stock market, now the shares of companies that brought IPO have also come. T
Railways are making all arrangements for the convenience of the passengers going home on Holi. So
Indian soldiers posted on the border are now going to be converted into fighting machines. Ballis
The Women's ODI World Cup has now reached its final stage, and the two teams that will face off f
Former Indian team captain MS Dhoni keeps making a lot of headlines inside and outside the field.
The war between Russia and Ukraine has completed one year. Ukraine was attacked by Russia on 24 F
The Indian team defeated New Zealand by four wickets with 12 balls remaining in the 20th match of
Contempt proceedings against former judges for criticizing the observations made by the Supreme C
