FinanceBuy Your Home with Huda Housing Scheme at Affordable Prices

AdminSeptember 6, 2019557 min

With the Haryana’s service sector GDP input increasing from 11.9% in 2017 to 13.7% in 2018, the job market in several cities like Gurgaon, Faridabad, and Panipat saw exceptional expansion in recent years.

The growth of Haryana’s economy has also lead to the creation of numerous job opportunities.  Hence, more and more people are looking to settle down in cities like etc. Facilitating the accommodation for such individuals is HUDA.

The Haryana Urban Development Authority or HUDA Affordable Housing Haryana is the state’s urban planning agency, which has made way for affordable housing accessible to all. Under this scheme, there are plans to distribute 6,200 residential plots among eligible candidates in several cities of Haryana.

 

What does the HUDA housing scheme entail?

HUDA was introduced in 1962 to supervise the planned development of urban areas effectively. In addition to development work, HUDA Haryana also undertook the task of providing land to the Haryana Housing Board and other bodies. The housing board, in turn, provides houses, flats, and apartments to the economically backward section of the society.

Additionally, to ensure that scarce urban land is being used optimally, HUDA has also introduced the concept of Group Housing.

Under these affordable housing plans, individuals can avail houses between ranges of Rs. 3,000 to Rs. 4,000 per sq. ft., depending on the area of its location.

Thus, individuals wishing to purchase a house in Haryana at these rates can easily do so with the aid of a home loan under PMAY

 

What are the eligibility criteria for availing the HUDA housing scheme?

To avail the benefits of HUDA Haryana housing scheme, an individual has to comply with the following eligibility criteria

  • The individual should belong to the state of Haryana.
  • Families have to belong to the economically weaker section of the society with a total annual income of less than Rs. 3 Lakh per annum.
  • A family includes a husband, wife and unmarried children.
  • Group D employees under the Haryana Government can apply for this scheme’s benefits.
  • Individuals wishing to apply should not have any house or plot in their name in Haryana.

Thus, individuals complying with the eligibility criteria mentioned above can avail the benefits of affordable housing in Haryana.

 

How to avail the housing scheme with the help of home loans?

The Pradhan Mantri Awas Yojana has made availing a home loan more affordable than ever. With the RBI repo rate cut announcement and financial institutions in India decreasing their MCLR, the lending rate for housing loans has also reduced significantly. That is why availing home loans at low-interest rates have become much easier.

To avail the best housing loan in India, you should compare the interest rates and benefits offered by the different financial institutions. Also, you must calculate the EMI amount you will need to pay to repay your loan to ensure that you can handle your finances better.

 

How can you apply for the HUDA housing scheme?

Once you know how much EMI you can afford and choose a financial institution to avail a housing loan, go ahead and apply for the HUDA housing scheme online by following the steps below –

  • Log in to the HUDA website.
  • Click on the link – “HUDA plot scheme 2019-20” and go to the registration form.
  • Read instructions and fill-up the form carefully.
  • Upload all documents required.
  • Pay the application fee by clicking on the payment option.
  • Check details carefully and submit the form.

Once you submit your application, you will need to wait for the draw that will determine whether you have received a plot for a house. Make sure to check the status of your application to know if your name is selected.

Additional Read: Know These Points Before Buying House Under the Huda Scheme

Admin

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