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 last Test of the ongoing five-match Test series between India and England (Ind vs Eng 5th Tes
Param Bir Singh Suspended: Param Bir Singh, Director General of Maharashtra Home Guards and forme
The Army said women activists in violence-hit Manipur were deliberately blocking roads and interf
The Election Commission will begin door-to-door Special Intensive Revision (SIR) of electoral rol
Punjab Kings suffered a crushing 8-wicket defeat at the hands of Royal Challengers Bangalore in t
Farmers are the priority of the central government. The Union Cabinet took an important decision
Corona: Corona increased tension, patients increased by 25% in a single day, and 30 people died
The increase in the number of corona infections in the country has once again raised the concerns
Amidst rumours of the alleged divorce of social media influencer and choreographer Dhanashree Ver
US President Donald Trump is taking strict action against illegal immigration. The Trump administ
On the 13th anniversary of the Mumbai attacks, India has summoned the diplomat of the Pakistan Hi
