Important Things to Know Before Applying for NTR Housing in AP

In a bid to provide affordable housing to the residents of Andhra Pradesh (AP), the state government rolled out the NTR housing scheme in the year 2016. This affordable housing scheme in AP comes under the PMAY (Pradhan Mantri Awas Yojana) compliance and follows the same objective – housing for all. This flagship housing program was launched by the CM of Andhra Pradesh by inaugurating over 400,000 budget-category homes under the 3rd Phase of the state’s housing program. The housing scheme caters to the underprivileged residents from both rural and urban areas of AP, by securing a permanent roof over their head. Besides providing affordable houses, this flagship scheme also provides a low-interest NTR housing loan to beneficiaries through NTR-approved lending institutions. A quick overlook of the NTR housing scheme in Andhra Pradesh –

• 600,000 – Double bedroom homes set to be constructed at an estimated cost of Rs. 16,000 Crore across Andhra Pradesh for the homeless poor.
• 200,000 – Affordable houses would be built under the NTR Rural housing scheme.
• 150,000 – Houses allocated for repair and renovation purpose under the upgradation scheme of NTR housing.
• 13,148 – Number of houses that are already in possession.

Eligibility requirements for NTR AP housing scheme

• To be eligible for this housing program, one needs to meet the following eligibility requirements:
• The applicant must be a resident of Andhra Pradesh.
• An applicant needs to possess a white ration card or a BPL (below the poverty line) card.
• A beneficiary must not own a property (house or loan) under any other govt housing scheme.

Documents required applying under this scheme

When applying for NTR housing loan under this scheme, one needs to furnish the following documents –

• Income proof: Certificates stating your nature of work and estimated income. Additionally, you are also required to provide the details of your collective family income, number of family members along with their age proofs.
• Residential proof: Documents stating one’s present and permanent address.
• Bank account details: The applicant must provide his/her bank account number along with the branch name.
• Identity proof: For applying under NTP housing scheme, holding an Aadhaar card is mandatory. You might also be required to produce additional documents like PAN card, Voter ID card, etc.
• Housing details: Information related to the existing house that you own in any state of the country. The applicant must also mention the size of the property, the number of rooms and other details as per the need arises.

Note: You are also required to submit religion or caste certificates if you belong to minority communities.

Subsidies for Beneficiaries

This flagship scheme offers interest subsidies via NTA housing loan to the following beneficiaries:

• The beneficiaries of the NTR rural housing scheme will receive a subsidy of Rs. 1.5 Lakh.
• Any SC/ST beneficiaries will receive an additional subsidy of Rs. 50000.
• The beneficiaries under the PMAY NTR Urban scheme can avail a subsidy of Rs. 2.5 Lakh.

Alternatively, you can also avail a Home Loan from lenders like Bajaj Finserv at competitive interest rates. Besides, you can fetch a hefty sum of up to Rs. 3.5 Crore that comes with a flexible repayment tenor for your convenience. Moreover, to maximise your affordability of availing homes, you must also be aware of the tax savings and other advantages offered by housing loans. Keep in mind; you must always choose a lending institution that comes with NTA housing scheme compliance for added benefits. The existing users of the lender mentioned above can also take advantage of pre-approved offers. These pre-approved offers are applicable on unsecured credits like personal loans, business loans and secured advances such as home loans among numerous other financial products. You can check out your pre-approved offer by sharing only a few necessary details like your name and contact number.

Application Procedure

Now that you are aware of this flagship scheme take a look at the application procedure. As this NTR housing scheme is a part of the PMAY scheme, the application is almost similar. Follow the following steps –

• Step 1: Visit the official site of PMAY
• Step 2: Login with your credentials.
• Step 3: Select the tab ‘Citizen Assessment’.
• Step 4: Choose your category under the benefits components.
• Step 5: Enter Aadhaar card details. After successful verification, you will be redirected to a new page.
• Step 6: Fill-up the form with accurate details.
• Step 7: Enter the Captcha code.
• Step 8: Hit the ‘Save’ option.

Once your online application is verified, you will be eligible as a beneficiary under the NTR housing scheme. You will receive a confirmation via email. The applicants can also check the list of beneficiaries from the official site of PMAY housing program. Also, stay updated with the stamping duty and franking charges of home loans to better plan the necessary finances.