Buying a dream house under PMAY a costly affair

by sikandar141
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NEW DELHI: Pradhan Mantri Awas Yojana (PMAY), a scheme launched by the government, offers affordable housing to the urban poor with a target of building 20 million homes by March 31, 2022. However, buying a home under PMAY in Delhi-NCR of Ghaziabad will give a big dent to buyer’s pocket as the cost of houses has increased by up to Rs 1.5 lakh.

Ghaziabad Development Authority (GDA) has increased the value of houses by 15 per cent which are under Samajwadi Awas Yojana.

According to the changes, now the cost value to purchase a house has increased up to Rs 4 lakh which means now people will have to pay Rs 2 to 4 lakh more amount than previous. Also, PM Awas Yojana has increased the cost value up to 1.5 lakh. Earlier value of a house was around 4.5 lakh but now according to the yojana, you will get that house in Rs 6 lakh.

GDA constructs flats according to the PM Awas Yojana. GDA built 2,067 houses under this yojana from which 1,056 are still lying vacant. These empty houses were allotted under the first come first serve basis. Now these empty houses will be sold with an increased value of Rs 1.5 lakh.


Indraprastha Yojana (One BHK): 83-vacant house; Rs 17.50 lakh- old rate; Rs 20.00 lakh – new rate
Koyal Anklev (One BHK): 136-Vacant House; Rs 19.90-Old Rate; Rs 22.40 lakh -New Rate
Indraprastha Yojana (Two BHK): 190-vacant house; Rs 24.10-old rate, Rs 28.10 lakh -new rate
Indraprastha Yojana (Two BHK): 250-vacant house; Rs 23.00 lakh -old rate, Rs 26.70 lakh -new rate
Cuckoo Anklev (Two BHK): 397-vacant house; Rs 27.60 lakh -old rate; Rs 30.90 lakh -new rate

People who are purchasing the house for the first time are provided CLSS or credit-linked subsidies which means when you will purchase a house you will get credit-linked subsidies on your home loan.

The Central government has extended the credit-linked subsidy scheme under PM Awas Yojana till March 31, 2021 which will provide benefit to middle-class families of Rs 2.50 lakh.  This is a sponsored scheme by the Central government, which was launched on June 25, 2015.

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