Home Finance NTR Housing Scheme Features and Eligibility Details

NTR Housing Scheme Features and Eligibility Details

Housing Scheme

The NTR housing scheme is a rural and urban housing initiative that is working in tandem with Pradhan Mantri Awas Yojana (PMAY) in the state of Andhra Pradesh. The plan has been initiated with a vision of providing cheap housing facilities to the rural poor and urban people. It was started along with PMAY back in 2016.

Till now, the NTR housing scheme has been responsible for building around 4 Lakh houses in its third phase. It has reportedly cost the government around Rs. 810 Crore. These houses have already been handed over to the beneficiaries.

As of now, the initiative has sanctioned funds of Rs. 31,793 Crore to build 15.7 Lakh houses under this beneficiary led construction (BLC) scheme.

Features of NTR scheme housing projects

The houses being built and will be built are going to have numerous functions that will benefit the inhabitants.

Some features are:

  • The apartments are constructed with the latest construction technology available in the country.
  • Multi-storeyed buildings will have lift facilities.
  • The complex will be having roads, parks, and an underground drainage system.
  • There will be gymnasium, education and healthcare facilities as well.
  • The NTR housing complex, along with the houses, will have energy-efficient lighting solutions like LED bulbs and street lights. Even the fans will be star rated energy-efficient models.
  • Commercial complexes for economic activities will also be built within the NTR housing complex.
  • A subsidy of Rs. 1.65 Lakh will be provided to SC/ST category families while the subsidy amount for other categories is Rs. 1.16 Lakh.
  • Applicants can also avail of home loans to purchase a house under this scheme.

Price of housing

The houses by NTR scheme will be provided at affordable expenses. This is because it is a beneficiary led construction scheme, and the beneficiaries are individuals living below the poverty line. Financial institutions and companies will also be providing subsidized housing loans to the beneficiaries.

Prices of houses under this scheme:

  • 300 sq. ft. – Rs. 5.62 Lakh
  • 365 sq. ft. – Rs. 6.74 Lakh
  • 430 sq. ft. – Rs. 7.71 Lakh

Eligibility criteria

The eligibility criteria to qualify for a house under NTR housing initiative is listed below:

  • Beneficiaries must be a citizen of the state of Andhra Pradesh.
  • Applicants must hold a valid Below Poverty Line (BPL) card.
  • If the BPL card is not available, in that case, he/she must be able to provide a white ration card.
  • The applicants must not own land or house under any other government housing scheme.

Home loans for NTR housing

Individuals who are below poverty line belong to the economically weaker sections of the society. They have an annual income of less than Rs. 3 Lakh. Hence, applying for external financing can help them financially to purchase a property.

In a situation like this, a home loan in Nellore housing scheme provides a high degree of utility. Many financial institutions and companies are providing housing credit to individuals who are eligible for the NTR scheme. If you are planning to avail of financing, you must know how to get home loans quicker.

How to apply?

The state government of Andhra Pradesh surveys eligible candidates for this scheme. The registration process will be conducted through the official website of Pradhan Mantri Awas Yojana.

You will be required to submit the following documents:

  • Details of present and permanent address along with its dimensions
  • A voter ID card or Aadhaar Card is mandatory
  • Income details must be furnished along with bank account statements.

The above details highlight the most prominent features of the scheme. Additionally, learning the RBI guidelines for home loans will make the process of choosing a lender easier for you.

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