The Assam government has significantly bolstered its efforts to promote affordable housing across the state by offering substantial subsidies of up to Rs 2.5 lakh on home loans. This initiative, part of the 'Aponar Apon Ghar' scheme, is designed to ease the financial burden on prospective homeowners and make the dream of possessing a first home a reality for many.
Aimed squarely at middle and lower-income families, the scheme seeks to reduce the overall cost of borrowing, thereby making property acquisition more attainable. Permanent residents of Assam are eligible for this financial assistance, which varies based on the total loan amount secured.
Under the provisions of 'Aponar Apon Ghar', a subsidy of Rs 1 lakh is extended for housing loans between Rs 5 lakh and Rs 10 lakh. As the loan amount increases, so does the support: Rs 1.5 lakh is provided for loans ranging from Rs 10 lakh to Rs 20 lakh, and Rs 2 lakh for loans between Rs 20 lakh and Rs 30 lakh. The maximum subsidy of Rs 2.5 lakh is available for housing loans sanctioned between Rs 30 lakh and Rs 40 lakh.
To qualify for this government assistance, applicants must be permanent residents of Assam. The housing loan must be obtained from a Scheduled Commercial Bank, Regional Rural Bank, or the Assam Cooperative Apex Bank operating within the state. Crucially, the total family income of the applicant should not exceed Rs 20 lakh. Furthermore, the sanctioned loan amount must be greater than Rs 5 lakh and have been approved by the bank on or after April 1, 2019. It is also mandatory that the loan account is not classified as a Non-Performing Asset (NPA).
This comprehensive scheme underscores the state government's commitment to enhancing living standards and ensuring that more families can secure stable housing, contributing to broader socio-economic development in Assam.
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