Home improvement loans in 2021

Posted by Sarita Yadav on November 10th, 2021

Every person has a dream of having his/her own that has all the necessities. Whether living in metropolitan cities or living in a village, one needs a roof, under which he/she can live. But seeing the economy of India, we can easily predict that many people do not have their own house and they live on rent. A significant part of the Indian population is living below the poverty line. So, to make their dreams come true, the government has come up with home improvement loans that will help the individual to improve his/her house or buy one.

The government of India has come up with a scheme called Pradhan Mantri Awas Yojna. It stands for “housing for all”. The Pradhan Mantri Awas Yojna Rural Home loan came into effect on 17.06.2015. According to this scheme, the interest subsidy will be provided on housing loans for the construction/ acquisition of houses. By the new construction, we mean the addition of rooms, toilets, kitchen, etc. It involves anything that acts as an increment to the existing house. But not all can avail of this benefit. There are certain conditions attached to it. They are as follows:

The beneficiaries of the PMAY home loan comprise of:

• A beneficiary family will comprise of wife, husband, unmarried daughter, or son.
• An adult earning member (irrespective of marital status) can be treated as a separate household owner.

PMAY home loan aims at achieving the objective of “Housing for all” by 31st March 2022. It aims at constructing around 20 million houses across the nation.

Shubham home loan can provide you with easy home improvement loans.  They have disbursed an amount of up to 3000 crores and above. The company has 84 branches all over India and is spread across 73 cities and 9 states. If you are looking for a more spacious house, this is your go-to place. They provide easily availed loans that can be used for a home extension. All you need to do is to provide valid documents. Whether the loan is big or small, it is sanctioned in no time. The only thing is that one needs to be eligible for the same. So what are you waiting for? Your home sweet home is just a click away. Contact now!