Don’t Need Much Apart From Your Desire | Goel Ganga Developments

You don’t need much apart from your desire, to own your dream apartment. So true. When it comes to funds for buying your dream home, you need not worry. The Government and the National Housing Banks (NHBs) have you covered. One crore houses are to be built in rural India by 2019, and this vital segment will now see cheaper sources of finance including external commercial borrowings (ECBs).

A new Credit Linked Subsidy Scheme (CLSS) for the mid-income group with a provision of Rs 1,000 crore in 2017-18 was announced even before Budget 2017-18. Extension of tenure of loans under the CLSS of Pradhan Mantri Awas Yojana (PMAY) was increased from 15 to 20 years, and the Budget also increased allocation to PMAY from Rs 15,000 crore to Rs 23,000 crore in the rural areas.

The qualifying criteria for affordable housing were also revised to 30 sq. m. and 60 sq. m. on carpet rather than saleable area in the four main metros: Mumbai, New Delhi, Kolkata, Chennai; and non-metros respectively. This effectively increases the size of affordable housing market across India. Moreover, the demonetization of high-value currency notes will cause land prices to ease in the next few years – especially in far-flung areas around Indian metros and the Tier-II and Tier-III cities. Goel Ganga Developments provides personal assistance and has tie-ups with a number of banks to guide you through the entire process of acquiring yout dream apartment.