Approval of 15,091 Houses for Allotment under PMAY

In a recent Andhra Pradesh cabinet meeting held on 6^th September, 2018 around 15,091 houses have been approved for allotment under Pradhan Mantri Awas Yojana (PMAY) – NTR Nagar (Urban) Housing Scheme.

The cabinet also decided to allot new houses to the rural people living in dilapidated conditions under NTR Rural Housing Program. Individuals who were alloted the house from 1993-94 to 2006-07 will be covered under this program.

NTR Housing Scheme is a part of PMAY through which the Andhra Pradesh Govt. seeks to provide permanent houses to the poor. The scheme also extends Loans at lower interest rate for reconstruction of the houses to the citizens of Andhra Pradesh.

The Government will also pay dearness allowance at revised rates to the State Government Employees and Pensioners.

The State Government also approved the draft bill to set up AP maritime board for the development of seaports in the state and for the revising the exclusive limits of Krishnapatnam port.

An unemployment allowance scheme will be launched on September 14^th, 2018. The Govt. will also set up Arya Vysya Welfare and Development and Corporation for extending Loans to the Vysya Community for Self-employment, Financial aid and Foreign education. Several other proposals were approved by the govt. in the meeting.

SBI Revises Home & Car Loan Interest Rates Effective from 1st November 2017

SBI updated it’s home loan & car loan interest rates on 2^nd November 2017. This has been done post MCLR (Marginal Cost of Lending Rates) rate cut on the very first day of November month.

According to the officials, These rates may vary depending upon the amount of loan and the credit score of the borrower.

Bank has reduced home loan interest rates to 8.30% per annum while rates on auto loans has been lowered to 9.20% per annum. With this reduction, SBI’s offering in the home loan segment has become the lowest in the market as claimed by the banks. The new rates will be effective from November 01, 2017.

The effective SBI Home Loan rates for all eligible salaried customers will be 8.30 per cent per annum for loans up to Rs. 30 lakh. Rates have been reduced by 5 basis points (0.05 per cent) in all other loan brackets. Over and above of 8.30 per cent rate, an eligible home loan customer can also avail of an interest subsidy of Rs. 2.67 lakh under the Pradhan Mantri Awas Yojana Scheme.

However if you want to avail car loan, Interest rates ranges from 8.70% – 9.20% p.a compared to the earlier 8.75 – 9.25% p.a.

According to the officials, These rates may vary depending upon the amount of loan and the credit score of the borrower.

₹ 1594.57 Sanctioned for 1.6 lakh Houses in Telangana, Hyderabad

Central Government have finally sanctioned funding for 1.6 lakh houses in Telangana, Hyderabad. The meeting held on wednesday at Nirman Bhavan, New Delhi. Two bedroom housing scheme (2BHK) is sanctioned by the government with the view of providing houses to all eligible urban poor families in Telangana State.
Out of the total houses sanctioned 94,000 houses have been sanctioned to Greater Hyderabad Municipal Corporation (GHMC) alone.
The Government of Telangana has appointed MEPMA (Mission for Elimination of Poverty in Municipal Areas) as State Level Nodal Agency for implementation of Pradhan Mantri Awas Yojana (PMAY) under Housing for All Mission.
Earlier, the Government of India has sanctioned 80,481 Houses in Telangana state under the Telangana Housing Scheme and tied up with 2 BHK Program (2 Bedroom Houses) launched by Government of Telangana.

While the Centre will be giving Rs1.5 lakh for each unit under PMAY, the state would have to spend about ₹ 7.15 lakh each 2BHK house in the GHMC areas and Rs4.30 lakh each for a rural housing unit.
Another 12,197 houses have been sanctioned for 67 urban local bodies such as Shadnagar, Suryapet, Nalgonda, Kodad and Jagityal municipalities. The construction work have already started for more than 1 lakh houses under which the Government will make sure that the basic facilities should be provided to every household with basic amenities.