home loan

The Andhra Pradesh Government aims to provide housing for all under its NTR Housing Scheme since 2016-17. This scheme initially aimed at providing 19 Lakh houses by the end of this year at an estimated cost of Rs. 50,000 Crore.

Current Steps By This Scheme 

The recent actions taken by this scheme include the allotment of 4 Lakh houses to the poor in February 2019. N. Chandrababu Naidu, the Chief Minister of AP, formally inaugurated 4,800 homes to welcome the beneficiaries.

The scheme will provide subsidies of Rs. 1.65 Lakh to SC/ST and Rs. 1.16 Lakh to the beneficiaries.

Previous Developments Under NTR

The Guntur Municipal Corporation sanctioned around 5,000 houses built by the Infrastructure Development Corporation and Andhra Pradesh Township back in 2017-18 in places like Palakol, Eluru, Jangareddigudem, Narsapur, Tadepalligudem, Bhimavaram, Tanuku, Kovvur, and Nidadavole under the NTR Urban Housing City scheme. The body already completed the allotment of 3,900 homes through online registration.

The Vijayawada Municipal Corporation allotted 8,200 houses under the AP NTR Housing Scheme. The prices and sizes of these houses were Rs. 7.71 Lakh for 430 sq. feet, Rs. 6.74 Lakh for 365 sq. feet, and Rs. 5.62 Lakh for 300 sq. feet. Beneficiaries of these homes received a subsidy of Rs. 1.5 Lakh.

Some of the amenities available at the cost of Rs. 30 Crore with these houses include 50W energy-efficient fans, 20W LED tube lights, 9W LED bulbs and LED street lights.

The Infrastructure Development Corporation and Andhra Pradesh Township helmed the construction of this project.

The Andhra Pradesh Government handed over a total of 3 Lakh houses to beneficiaries in 13 districts at the cost of more than Rs. 3,700 Crore under the PMAY NTR Urban Housing Scheme, NTR Housing Scheme, and Pradhan Mantri Awas Yojana (PMAY NTR-Rural) Scheme. These houses ranged in size from 200 sq. feet to 750 sq. feet.

Included among these were more than 5,000 houses provided to those who lost the same in the Hudhud cyclone in 2014.

Eligible beneficiaries

Authorities of the municipal corporations conduct periodic surveys to identify the recipients of this housing scheme.

Individuals can also register online to enroll provided they:

  • Area citizen of Andhra Pradesh.
  • Don’t possess a plot of land under any other government scheme.
  • Hold a white ration card or below the poverty line (BPL) card.

Beneficiaries of this housing scheme in AP have to provide documents like:

  • Aadhaar
  • Driving License, PAN, Voter ID, etc.
  • Details of income proof.
  • Proof of permanent and present address.
  • Bank account details.
  • Details about the size of the current residence.

Home Loans For Beneficiaries

The PMAY provides subsidies on home loan in India  interest rates under the Credit-Linked Subsidy Scheme (CLSS).

The subsidies provided to the different category of individuals include:

  • 3% to MIG II families on loans up to Rs. 12 Lakh.
  • 4% to Middle Income Group (MIG) I families on loans up to Rs. 9 Lakh.
  • 6.5% to Economically Weaker Section (EWS) and Low Income Group (LIG) families on loans up to Rs. 6 Lakh.

The maximum subsidy available under the Credit-Linked Subsidy Scheme is Rs. 2.67 Lakh. These home loans are available from a majority of financial institutions.

The availability of interest subsidies on home loans has made it easier for beneficiaries to opt for the AP NTR Housing Scheme, which at the latest, has allotted 15.78 Lakh at the cost of more than Rs. 31,000 Crore.


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