Properties for Sale by Mantri

MakaaniQ tells why now is the time to opt for home buying over renting.

Under the new tax-evasion amnesty scheme – Pradhan Mantri Garib Kalyan Yojana (PMGKY) – the government recently said that only unaccounted domestic cash could be declared through it as jewellery, stocks, immovable property and foreign accounts don’t come under its purview.

With the Union Budget 2017-18 having emphasised the importance of housing, according infrastructure status to this sector, things are expected to change for the better.

In his address, the PM announced that now people with an annual income of up to Rs 12 lakh in urban areas would be eligible for a four per cent subsidy in interest for a home loan up to Rs 9 lakh. This will help India’s middle-class home buyers.

Providing shelter for the homeless has always been a major area of concern for the Indian Government. Thus, it had successfully launched several schemes for rural housing, Indira Awas Yojana being one of the popular and oldest rural development programmes in the country. The recent most is the revamped version of this scheme and is called the Pradhan Mantri Awaas Yojana wherein development of nearly two crore houses has been proposed.