NTR Housing Loan Aims To Provide Shelter To Homeless Poor

The Andhra Pradesh government in 2016 launched the AP NTR housing scheme with an aim to provide affordable housing to the underprivileged. It is named after the former CM and well-known movie star NTR. The housing scheme is applicable to both urban and rural areas.

Under this housing scheme in AP, a 430 sq. ft. the house will be available for Rs 7.71 Lakh, while smaller houses with floor areas of 365 sq. ft. and 300 sq. ft. will be available at prices of Rs 6.74 Lakh and Rs 5.62 Lakh respectively.

Since the government has promised to roll out loans only to the economically backward sections, you have to take a home loan if you plan to purchase a house under this scheme.

District-Wise Implementation of The Scheme

To implement this AP NTR housing scheme, the Municipal Corporation of Guntur has decided to allocate housing plots to all eligible beneficiaries. The allocation process is online. A total of 3900 houses have been built by the AP Township and Infrastructure Development Corporation. 

The AP Government will also provide energy-efficient electronic appliances to all houses built under this NTR housing scheme. These appliances will be star-rated and will consist of a 9W LED lamp, a 50W ceiling fan, LED lighting along the streets and a 20W LED tube light.

Currently, the scheme is being implemented in the following districts: Srikakulam, East and West Godavari, Krishna, Guntur, Prakasam, Nellore, Chittoor, Kurnool, Anantapur, Kadapa, Vizag and Vizianagaram.

In January 2019, the AP CM inaugurated 4 Lakh houses under the 3rd phase of the NTR housing scheme. The government also said that around 4 Crore people needed proper houses across the country, but roughly 35 Lakh houses had been built. The CM said that a further 15.78 Lakh houses had been sanctioned in his state very soon.

What is The Eligibility to Buy A House Under The AP NTR Scheme?

All applicants who fall below the poverty line and those who have white ration cards can apply for a house under the NTR housing scheme. Applicants must also be permanent residents of the state of Andhra Pradesh and should not possess any other plot of land or house under any government schemes.

If you plan to buy a house under the scheme, there are many reasons why you should opt for a home loan from various leading financial establishments and NBFCs.

There are few NBFCs which brings you pre-approved offers on home loans, personal loans, and business loans, besides a wide variety of other financial products. Not only do these offers simplify the process of availing financing but also save you time. You can check your pre-approved offer now by simply providing a few details online.

It is easy to repay such loans thanks to the low home loan interest rates that such NBFCs offer.

Documents Required For Application

To buy your home under this housing scheme in AP, you have to submit the following documents.

• Address Proof: All details about your present addresses and residences, including the size/s of your present home/s.

  Identity Documents:These include your Aadhaar card, Voter ID card, driving license or other forms of identification documents. Note that all documents must also bear your photograph.

  Account Details:Details of the account you maintain with any financial establishments.

  Details of Income:You must show proof of how much you earn, how much your co-dependents earn, and other relevant details.

How To Register For The Scheme

Registration is done online through the Pradhan Mantri Awas Yojana or PMAY. You must be aware of all the Pradhan Mantri Awas Yojana eligibility criteria. All SC/ST families will receive a state government subsidy of Rs 1.65 Lakhs while other families will get a subsidy of Rs. 1.16 Lakh.

The total projected cost for the entire housing plan is estimated to be more than Rs 31,000 Crores. Agencies involved in making this AP NTR scheme a success include PMAY-NTR Gramin, the Urban-Led Beneficiary or BLC and the NTR Rural Housing project.

More states may copy this housing scheme in AP as it is cost-effective with easy financing options and covers a large section of the population.

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