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.
After the Pahalgam terrorist attack, tensions between India and Pakistan are constantly increasin
One-third of doctors working night shifts in India, mostly women, feel unsafe. This has come to l
IND vs SA: 'One of the 10 best innings in Indian Test history', Gavaskar praised KL Rahul's century
Lokesh Rahul's brilliant century in the first Test match against South Africa was praised by the
Petrol and diesel prices have increased again today by the oil companies. While the price of petr
Congress MP and Leader of Opposition in Lok Sabha Rahul Gandhi recorded his statement in the defa
A cyclonic circulation over Punjab and Haryana will induce pre-monsoon activity, giving some resp
Pushpa 2: 'Pushpa 2' rocked the country and the world, made these 11 records on the very first day
Superstar Allu Arjun has officially become the king of Indian cinema. In fact, his action drama '
The World Health Organization (WHO) has asked all countries to share information related to the o
KBC 16: This comedian asked Amitabh Bachchan for a share in the property, even Big B was surprised
Veteran Hindi cinema actor Amitabh Bachchan has given one hit film after another in his career. H
Delhi: Drone seen above PM Modi's residence, SPG and police stirred, agencies engaged in the search
The news of a drone flying over the Prime Minister's residence on Monday morning created a stir.
