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30 December 2020

NTR Housing Scheme in Andhra Pradesh: Things you must know

 The NTR Housing Scheme was launched in 2016 by the Andhra Pradesh State Government to extend affordable housing to every individual in the state. Typically, this housing scheme is under PMAY and is directed towards the underprivileged population living in rural and urban areas in Andhra Pradesh.

As per data, the third phase of this Housing Scheme recorded the inauguration of more than 4 lakh budget homes. Nevertheless, to benefit from this scheme, individuals must become aware of the requirements and clauses. Doing so, they will not only be able to streamline their application process but will also be able to make the most of this scheme’s offerings.

Eligibility criteria for NTR affordable housing scheme

Ideally, this scheme allows beneficiaries to avail a subsidy on housing loan interest payment, thus making financing a house purchase affordable. The rural segment of NTR Housing Scheme extends a subsidy of up to Rs.1.5 lakh to eligible applicants. On the other hand, applicants under NTR urban housing scheme can receive a subsidy of up to Rs.2.5 lakh. Also, applicants who belong to the SC/ST category are entitled to receive an additional Rs.50,000 as a subsidy.

However, to benefit from this affordable housing scheme individuals need to meet the following criteria –

▪ Applicants must be residents of Andhra Pradesh.

▪ They must be either BPL card or white ration cardholders.

▪ Individuals who apply for this scheme should not own a house or land under any other housing scheme funded by the government.

Individuals should also find out about the other eligibility requirements of the NTR Housing Scheme in Andhra Pradesh in detail to complete a seamless application.

Documents required for NTR Scheme eligibility

Individuals who intend to avail of home loan interest subsidy under this housing scheme must submit the following documents –

Proof of address.

Proof of identity.

Bank details.

Proof of income.

Caste certificate (if any).

The application process under the NTR Scheme

Since this affordable housing scheme comes under the purview of Pradhan Mantri Awas Yojana for a home loan, it follows the same application process as the latter.

So, by following these steps, one can easily apply for benefits under the NTR Housing Scheme –

Step 1 – Go to PMAY’S official website.

Step 2 – Enter credentials to log in.

Step 3 – Select the ‘Citizen Assessment’ option.

Step 4 – Choose either ‘For Slum Dwellers’ or the option ‘Benefits under other 3 Components’, whichever is applicable.

Step 5 – Provide Aadhaar details for verification.  

Step 6 – Fill up the application form with the required information.

Step 7 – Enter the CAPTCHA provided to validate.

Step 8 – Click on the ‘Save’ option.

Subsequently, the verification process will be initiated, following which applicants will find out if they are eligible for this scheme’s benefits or not. Meanwhile, applicants should consider finding out about home loan tax benefits for under-construction property to make house purchase further affordable.

Steps to check beneficiary list

Once applied, one can conveniently check the NTR affordable housing scheme beneficiary list in the following few steps –

Step 1 – Visit the official page of the Andhra Pradesh Government’s housing scheme.

Step 2 – Click on the tab reading ‘Gruha Pravesh Mahotsvam Ben List’.

Step 3 – Select the function type and enter the name of the scheme.

Step 4 – Click on the tab reading ‘Get a Report’.

Step 5 – Click on the relevant beneficiary list.

To download or export the beneficiary list, click on the tab reading ‘Export to Excel’, which should make it further convenient for you to find your name as a beneficiary.

Once you make it to the beneficiary list, proceed to find a suitable financial institution to avail a home loan at an attractive rate of interest and simple repayment terms.

Leading financial institutions also provide their existing customers with lucrative pre-approved offers that make the process of availing of financial products simplified and less time-consuming. Typically, such offers are available on multiple financial products, including home loans and loans against property. You can check your pre-approved offer online by just sharing your name and contact number.

While at it, make sure to find out more about the terms of repayment and also room for negotiating a better rate of interest, if any, to ensure increased affordability.

So, to make way for affordable residential property purchase under the NTR Housing Scheme, you must find out about the requirements of the scheme and proceed to apply for it accordingly. Subsequently, to maximize the resulting benefits, look for a financial institution that provides a housing loan against attractive repayment options.

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