Are flats in Kalyan eligible under PMAY scheme ?

Are Flats in Kalyan Eligible Under the PMAY Scheme? – Kohinoor Highland

The Pradhan Mantri Awas Yojana (PMAY) is an ambitious initiative by the Government of India aimed at providing affordable housing to all. This scheme offers interest subsidies on home loans for eligible buyers, especially targeting first-time homebuyers from economically weaker sections and lower-income groups. If you are looking for affordable housing options in Kalyan, one project that stands out is Kohinoor Highland, located in Dombivli East.

PMAY Eligibility for Kohinoor Highland Flats

If you are considering purchasing a flat in Kohinoor Highland in Kalyan, the good news is that these flats are eligible for the PMAY scheme, making them an attractive choice for first-time homebuyers looking to avail of government subsidies.

1. Kohinoor Highland Overview

• Location: Dombivli East, part of the Kalyan-Dombivli Municipal Corporation (KDMC) area.

• Configurations: The project offers well-designed 1 BHK and 2 BHK apartments that cater to budget-conscious buyers.

• Price Range: Starting from approximately ₹28 lakhs, making it affordable for those who qualify under the PMAY scheme.

• Amenities: Kohinoor Highland offers basic but modern amenities, including:

  • 24/7 water supply

  • Security services

  • Parking facilities

  • Recreation and community spaces

2. PMAY Scheme Eligibility for Kohinoor Highland Buyers

To avail of the benefits under PMAY for purchasing a flat in Kohinoor Highland, you need to meet the following criteria:

• Income Group Eligibility:

  • Economically Weaker Section (EWS): Annual income up to ₹3 lakh.

  • Low-Income Group (LIG): Annual income between ₹3 lakh and ₹6 lakh.

• Carpet Area:

  • Flats in Kohinoor Highland fall within the maximum carpet area eligible for subsidy under PMAY. For EWS, the carpet area limit is 30 sqm, and for LIG, it is 60 sqm, which aligns with the size of flats available in this project.

• Ownership:

  • The PMAY scheme also emphasizes female ownership in the property. Ideally, the property should be registered in the name of a female member of the family, or jointly with a male member.

3. PMAY Benefits for Kohinoor Highland Buyers

Eligible buyers of flats in Kohinoor Highland can benefit from the Credit Linked Subsidy Scheme (CLSS) under PMAY, which provides:

• Interest Subsidy: A subsidy of up to 6.5% on the home loan interest rate for EWS and LIG categories. This subsidy can significantly reduce the cost of home loans.

• Loan Amount:

  • The maximum home loan eligible for the subsidy is ₹25 lakh. This makes it easier for buyers to afford homes with affordable EMI payments.

• Carpet Area:

  • As mentioned earlier, flats in Kohinoor Highland fit within the carpet area limits specified under PMAY for both EWS and LIG categories, making them eligible for subsidy under the scheme.

4. How to Avail PMAY Benefits for Kohinoor Highland

To avail of PMAY benefits for purchasing a flat in Kohinoor Highland, follow these steps:

1. Check Eligibility: Ensure that you meet the income and other criteria specified by PMAY.

2. Approach the Builder or Bank: Kohinoor Highland is RERA registered, and its project is aligned with PMAY guidelines. You can get in touch with the builder or a participating bank to get more details on how to apply for the subsidy.

3. Document Submission: Submit necessary documents such as income proof, property documents, and a loan application to your bank to begin the process.

4. Approval Process: The bank will evaluate your application and, upon approval, disburse the home loan along with the subsidy.

5. Conclusion

If you're looking for affordable housing in Kalyan and wish to avail of the PMAY scheme, Kohinoor Highland in Dombivli East is an excellent option. With its competitive pricing, modern amenities, and eligibility for PMAY subsidies, this project offers great value for first-time homebuyers and those looking to buy a home under the government scheme.

Taking advantage of PMAY benefits can make homeownership more affordable and accessible, especially for families in the EWS and LIG categories.