Own A Home With Pradhan Mantri Awas Yojana

For many Indians, owning a home of their own is a luxury. Many middle class and lower income families can only dream of being homeowners. However, the Pradhan Mantri Awas Yojana aims to make every Indian Family a homeowner. 

Apartments for sale in Mohali

Every Indian family gets a home under Housing for All

The Housing for All scheme is aiming to provide homes to everyone by 2022. Under this scheme, affordable homes are the priority. Developers are being given incentives like tax exemptions to make more budget homes.

Increased spending to build homes across the country

The budget for affordable housing has been increased from Rs 15,000 crore to Rs 23,000 crore. The government is leaving no stone unturned and has recently announced the construction of more than 1 lakh affordable homes all over the country. In fact, their aim is to construct 12 lakh houses by next year.

Special financial assistance to first time buyers

Under PMAY’s Credit Linked Subsidy Scheme the government is also trying to financially assist those who have never owned a home. To ensure that middle and lower income groups are able to buy a home, there is an interest subsidy on home loans. Every family buying their first home will receive subsidy according to their income.

Despite affordable housing being a priority, only a few developers are launching such projects. However, Joynest is a developer in Punjab that had the foresight to understand the need for affordable homes. They have launched 2 BHKs and affordable 3 BHK apartments in Mohali and Zirakpur. Their plan is to create more homes like this all across Punjab. And completely in line with PMAY, they are also offering interest subsidy to every first time buyer.