"Some things are best done sooner rather than later. There is no reason to delay <br />investing in your dream home in Lodha Palava’s newest project, Codename Riverside. <br />One reason to keep in mind is the all-time low home loan interest rate hovering at <br />8.35% currently. The other reason is the possibility to avail loan subsidy through the <br />PMAY (Pradhan Mantri Awas Yojna). This scheme was envisioned to fulfill a lofty <br />mission – to enable housing for all by 2022, a time when India completes 75 years of <br />independence. <br />Some important details about the scheme are: <br />1. It is open to everyone whose annual income does not exceed INR 18 lakhs. <br />2. The person purchasing a house under this scheme, should not already own a pucca <br />house, i.e. one constructed of concrete. <br />3. You are entitled to avail loan subsidy of a maximum of 2.67 lakhs (for economically <br />weaker section and lower income group) to 2.30 lakhs for the others, under this <br />scheme. <br />4. You must provide proof of income, address, identity, bank statements of previous 6 <br />months and any other documents that the bank offering home loan demands from you. <br />5. The home loan you take from the bank should be for a period of 20 years to avail the <br />maximum subsidy offered under this scheme. <br />6. You can purchase only one house per family/applicant in this scheme. Shown below is <br />the maximum permissible limit of house built area for different income groups: <br /> <br />Income group Max. permitted carpet area (in sq. meters) <br />Under 6 lakhs/annum 60 <br />Under 9 lakhs/annum 90 <br />Under 18 lakhs/annum 110" <br />http://riverside-smartcity.com/ <br /> Lodha Palava
