Apna Ghar Yojana
Apna Ghar Yojana – One among the several initiatives taken by current ruling party of India NDA government in order to achieve ‘zero’ homeless citizens in India by 2022. Similar to Awas Yajana many small and effective schemes are announced by state government across the nation in order to achieve the target set in Pradhan Mantri Awas Yojana.
Apna Ghar Yojana – A Brief
In Uttar Pradesh state several cities including Ghaziabad are about to get Housing Projects under the scheme Apna Ghar Yojana. Recently, the Techman Buildwell Pvt LTD announced about constructing new housing project in New Moti City at Modi Nagar Ghaziabad.
Houses or Apartments constructed under the Apna Ghar Yojana has the fixed measurements (1BHK, 2BHK & 3BHK) across the nation and all other procedures are same.
Loan Facilities for Apna Ghar Yojana
On knowing the difficulties faced by normal peoples like arranging the huge initial amount for purchasing homes under Apna Ghar Yojana, the government of India announced separate loan schemes which can be availed from any of the nationalized banks of India under RBI governance. However, loan approval and eligibility standards depend upon the individual banks terms and conditions.
On supporting the scheme, many private banks like ICICI announced their own set of terms and rules for availing loans under Apna Ghar Yojana.
ICICI bank’s Apna Ghar Yojana
In order to provide support for central government, ICICI has introduced separate loan scheme which can be availed from all their branches across the nations. When it comes to home loans, ICICI banks have their own terms like the financial amount depends upon the capacity of repay abilities of the applicants. With ICICI banks, one can avail housing loans either by individual or by joint mode.
Eligibility for availing Loans under Apna Ghar Yojana in ICICI
Applicant must be individual or group; however, applicant must be salaried or self-employed person. In case of applicant being a retired person age factor will be considered on allocating the loan amount. Just like the normal terms, ICIC follows the same protocols for lending house loans for Apna Ghar Yojana.
Maximum Limitation for Housing Loans under Apna Ghar Yojana in ICICI:
Applicant can able to avail Maximum of Rs. 100 Lakhs for buying or to built new home, similarly if applicants apply for loans in order to repair or renovate the existing home, maximum amount can be availed under this scheme is Rs.10 Lakhs.
Processing Fee and Security followed in ICICI
For loans availed up to Rs.2 Lakhs, processing fee would be 0.50% and for amount exceeding Rs.2 Lakhs processing charges would be 1%. When it comes to security aspect, ICICI follows their basic protocol of “Equitable Mortgage of Property” and the applicant should provide the “Patta” along with Gram Panchayat fee deposit receipt.
Repayment and Foreclosure Charges in ICICI banks
In ICICI banks, it will be 20 years maximum for applicant to repay the loan amount for new houses (either built or purchased). And for repair and renovation applicant must repay the entire amount within 9 years. Also in terms of foreclosure 2% of the prepaid amount would be charged if applicant closes the loan amount within initial 6 months. For after 6 months, there won’t be any foreclosure charges levied.