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.
17 days have been completed in the ongoing farmers' agitation on the Shambhu and Khanauri borders
Prime Minister Narendra Modi while addressing the US Parliament said that India is the mother of
On the first day of the month i.e. on March 1, the price of 19 kg commercial LPG cylinder has inc
North Korea's drone violates airspace after five years, South Korea's army gives a befitting reply
South Korea's military says it fired warning shots after a North Korean drone violated the south'
Many comments from the address given by Leader of Opposition Rahul Gandhi in Lok Sabha on Monday
US President Joe Biden and Vice President Kamala Harris met with their top 150 donors over the we
Afghanistan Earthquake Today: Earthquake tremors have been felt in Afghanistan. Today i.e. on the
In the 30th match of IPL 2022, Rajasthan defeated Kolkata by 7 runs, registering a thrilling win.
'I will start investigation against ED, CBI officials', Mamata Banerjee threatens Center
West Bengal Chief Minister Mamata Banerjee on Monday hit out at the Center over the rising number
The question remains as to who will be the CM face in Mahayuti and Maha Vikas Aghadi in Maharasht
