The Assam government has introduced “Aponar Apon Ghar,” a home loan subsidy scheme designed to assist individuals in purchasing or constructing their first house. The amount of subsidy can be between ₹1 lakh and ₹2.5 lakh, depending on the loan amount.
Overview of the scheme:
- Scheme Name: Aponar Apon Ghar (meaning “Your Own House”)
- Objective: To facilitate homeownership for residents of Assam, particularly those with lower incomes.
- Implementing Body: Finance Department, Government of Assam
- Target Beneficiaries: Permanent residents of Assam who are purchasing or constructing their first house.
- Subsidy Amount:
- Between ₹5 lakh and ₹10 lakh: ₹1 lakh subsidy
- Above ₹10 lakh up to ₹20 lakh: ₹1.5 lakh subsidy
- Above ₹20 lakh up to ₹30 lakh: ₹2 lakh subsidy
- Above ₹30 lakh up to ₹40 lakh: ₹2.5 lakh subsidy
- Loan Amount: Up to ₹40 lakh
- Repayment Period: Up to 360 months (or up to 70 years of age)
- Moratorium: Up to 18 months
- Eligibility:
- Must be a permanent resident of Assam
- Must be purchasing or constructing their first house
- The total family income of the applicant (from all sources) must not exceed ₹ 20,00,000
- The housing loan must be of more than ₹ 5,00,000 and sanctioned by bank on or after 1st April 2019
- The loan accounts must not be under NPA (Non Performing Assets) status