Special Fund for completion only for houses up to 2,150 sq.ft.
FinMin Caps, Investment in a Project at Rs. 400Cr.
Affordable house or Apartment and villas with a carpet area of up to 200 square meters or around 2150 Square feet will be eligible for funding from the Rs.25000 Cr. Fund to revive stalled real estate projects the government said on Thursday. The Floor area ceiling is in addition to the price ceiling to ensure that they benefit low and middle-income projects Affordable housing project which has come to a standstill due to a liquidity crunch.
Apart from the restriction on the size of the house, the investment fund will cap the exposure to a project at Rs. 400.Cr. and there will also be a cap on the amount of Assistance that can be provided to a builder or even activity to avoid any concentration risk.
In a set of frequently asked questions, the finance ministry said the floor area restriction will be in addition to the price cap that it had announced on Wednesday capping it at Rs.2 Cr. In Mumbai , around Rs. 1.5 Crore in Delhi , NCR Kolkata, Chennai, Bangalore, Ahmadabad, Hyderabad and Pune, and Rs. 1 Crore in Other parts of the country, excluding the club and parking charges.
Carpet Area or the net usable area, used under Rera Law, Does not include external area, areas under service shafts and balconies and verandas, it clarified.
Now very easily any person can book his house (Residential Apartment in Delhi NCR Especially under Pradhan Mantri Aawas Yojna).In Gurgaon Affordable project starting cost for carpet area Rs. 4000.00 /sq.ft and apart of this balcony area is Rs. 500.00/sq.ft. And Rest you can get an easy 90% home loan with 5 years no maintenance charge no EDC and IDC and lots of benefits you can get today.
Affordable housing addresses to a housing project that is affordable by that section of society whose income is below the median household income. Affordable housing becomes a key issue especially in developing nations where a majority of the population isn’t able to buy houses at the market price.
Any type of Residential property (Affordable property, luxury property) here carpet area excludes balconies, service shafts, and external walls. As affordable projects offering many amenities, water and power connections, parking, lifts, and play area, gated society, club, pool, and garden area and lots of other things.