Pradhanmantri Rent To Own Scheme India – Application Form Online

By | May 22, 2017

Pradhanmantri Rent To Own Scheme India – Application Form Online, A new house rental scheme by the central government : what is Rent to Own scheme : advantages of Rent to Own scheme.

Question – What is PM Rent To Own Scheme India ?

The central government of India is planning to launch a new scheme for the rental houses. A new housing rental policy will be launched by which the people can take houses on rent in big cities. We all are very much familiar that now days all the people are migrating from rural areas towards the urban areas. People are migrating to big cities so as to get more job opportunities, better salaries, a high quality living etc.

Due to this migration of people there has been a shortage of houses. As people are more than the houses available. So to meet up this requirement of houses, the central government is starting a new scheme which is named as ‘Rent to Own’ scheme. Through Rent to Own scheme the migrant people coming to cities will be able to rent houses from the government institutes.

Pradhanmantri Rent To Own Scheme

Rent to Own is basically a house rental scheme by which the migrating people will be able to get houses on rent. Moreover in future the tenant will also have a option to buy the rental house by paying the full price of the house in easy installments. The scheme will be launched under the National Urban Rental Housing policy of Central government. Mr. Venkaiahh Naidu, the Union Urban Development and Housing Minster said that very soon this scheme will be presented in the cabinet for its approval.

The Pradhanmantri Rent To Own Scheme will be very beneficial to all the migrants in meeting up the housing facility. Along with it the government will also give a subsidy of Rs. 1.5 lakh to the poor people, even on the houses built on the private land. Earlier the subsidy given only on those houses which were built on the government land. This scheme was considered by Venkaiah Naidu when the private developers launched a Affordable Housing Project.

Rent To Own Scheme India Process

According to the survey, till date, around 17.73 lakh urban people are provided with approved houses in 2008 cities and towns. The Central government and our Prime Minister, Mr. Narendra Modi, has a mission of Housing for All till 2022. So to fulfill their mission they are coming up with this new Rent to Own scheme. The researchers says that by 2019 the target will be achieved in almost 15 states such as Himachal Pradesh, Kerala, Jammu & kashmir, Auranchal etc. The target for the remaining states will be achieved by 2022. The Rent to Own scheme has its main focus on providing a suitable accommodation to huge number of people of migratory migrations.

No Need To Fear Of Landlords if you are late For Rent

The main initial of this scheme are to give the house on rent or we can say on lease for certain years. The buyers will have to pay the amount in monthly EMI ’s in the bank. The amount will be deposited as the monthly rent but when the amount of EMI ’s deposited will reach the level of 10% then the house will be registered on the name of the tenant. Then he / she will became the owner of the house. But in any case the tenant is unable to pay the monthly installments then the house will be sold again and the amount deposited with the rent will be returned to the tenant without any interest.

Pradhanmantri Rent To Own Scheme India

A new Rent Control Act will also be launched in which the landlord and the tenant will have a mutual consent of amount and duration of the rent will be fixed. This will also ensure that the landlord’s house is safe of illegal occupying. By taking these initiatives the central government will surely achieve their target of Housing for All till 2022.

More InfoJDA Housing Scheme 2017

This is a great scheme which is recently launched by the our Pardhanmantri Narendra  Modi Ji. With the launching of this scheme Modi ji full fill the dream of the poor families of the India. By launching this scheme they will go to change the mind of the poor people. After this scheme now the common people like us can afford the house. For getting the benefit of this scheme you just have to make the inquiry for the same. And check the eligibility criteria as you are able or not.  Only the poor families can be take the benefit first later the other persons. I update this post time to time and include the name of the persons who are eligible or not