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Tata Capital > Blog > Loan for Home > What Are the Different Housing Schemes in the Different States of India?

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What Are the Different Housing Schemes in the Different States of India?

What Are the Different Housing Schemes in the Different States of India?

If you are looking for ways to own a home in India, several state government housing programmescan help you realise your dream. To achieve affordable housing for all, authorities have rolled out the following schemes.

DDA Housing Scheme

The first in the state-wise housing schemes is the specialised offering from Delhi Development Authority (DDA). This scheme provides high to medium to low-income homebuyers with apartments within city limits. The DDA Housing Scheme also ensures reservation of apartments at economical rates for the Economically Weaker Section (EWS). This way, the imitative empowers the EWS applicants to shift their families to homes of their own.

Even though the DDA flats are offered at affordable prices, you can opt for housing finance to purchase them. And now is the best time to avail one as home loan interest rates are at an all-time low.  Flats under this scheme are available in Narela, Dwarka, Manglapuri, Rohini, Vasant Kunj, Jasola, and more.

Eligibility criteria

  • You must be a citizen of India.
  • You must be a minimum of 18 years of age.
  • You, your spouse or children must not own a residential property bigger than 721 sq. ft. anywhere in any urban area of Delhi.
  • You can only apply for a subsidised EWS flat if your annual income is less than Rs. 1 lakh.
  • You must have a PAN Card.

Additional Read: What Are the Prominent Affordable Housing Schemes Available in India?

Tamil Nadu Housing Board Scheme

The Tamil Nadu Housing Board Scheme or TNHB caters to the residential demand in the state and ensures easy accessibility to good quality homes. Under this scheme, the Tamil Nadu government provides affordable apartments to natives of Tamil Nadu.

Applicants can assume ownership of their affordable flat after furnishing a nominal deposit and an application form.

Eligibility criteria

  • You must be a native of Tamil Nadu.
  • You must be at least 21 years of age.
  • ●     This scheme is for first-time homebuyers only. So, you must not own residential property or a plot of land through any other housing schemes.

NTR Urban Housing Scheme

If you are a resident of Andhra Pradesh and are scouting for affordable housing, turn to NTR Urban Housing Scheme. The stellar feature of this scheme is that the beneficiary needs to put in just one-third of their home loan principal amount, while the rest is taken care of by the central and state governments.

Eligibility criteria

  • You must be an Andhra Pradesh resident.
  • You should either have a Below Poverty Line (BPL) card or a white ration card.
  • You must not own any plot or pucca house under any other government scheme.

Additional Read:  5 Reasons Why Investing in Government Housing Schemes is a Smart Option

The bottom line

Do you want to buy a home under any one of these schemes but fall short on finances? Fret not! Reach out to Tata Capital. We extend home loans at competitive interest rates and flexible repayment terms.

Before applying, evaluate your EMIs payable by using a home loan EMI calculator available on our website.

So, don’t wait any longer! Apply for housing finance with us today.

Apply Now
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