We at Velocity are looking to make life easier for the numerous people with limited income and fulfill their dreams of owning their own house. Here we list down the best affordable housing schemes in and around Noida to help you pick the best one.

Are you eligible for affordable housing scheme?

The Ministry has launched the affordable housing scheme in line with the Pradhan MantriAwasYojana-Urban (PMAY-U).

Affordable Housing is meant for the urban poor which includes migrant and daily wage workers who belong to EWS (Economically Weaker Section) and LIG (Low Income Group) or MIG (Middle Income Group).

The various sections are demarcated on the basis of the annual income of the households and are distributed as follows:

EWS - Annual income of fewer than 3 lacs per year.

LIG - Annual income of 3 to 6 lacs per year.

MIG I - Annual income 6-12 lacs per year.

MIG 2 - Annual income of 12-18 lacs per year.

What are the best options?

Velocity has hand-picked some of the best options for you with regard to affordable housing in Noida and Greater Noida.

SDS Affordable Housing

Located at Pari Chowk, Greater Noida, SDS Affordable Housing has ready-to-move 1 BHK flats having 363 sq.ft super area. Bank loans are available from HDFC and UBI.Booking starts from just Rs.11,000. This particular affordable housing project is one of the best going around.

BHS-16 Schemes

There are two BHS-16 Schemes, one in Sector-10 of Noida Extension and the other in Sector MU-2 of Greater Noida. Both of them are four-storied apartments with 5250 flats in Sector MU-2 and 1965 flats in Sector-10.

YamunotriHouses

The Yamunotri Houses affordable housing project is located in Sector-22D Yamuna Expressway, Noida. This project was conceived and brought to life by YEIDA or the Yamuna Expressway Industrial Development Authority.

Yamunotri Houses have both 1 and 2 BHK flats with areas ranging from 525 sq. ft. to 880 sq. ft., which are significantly larger than the flats of the above two schemes. This affordable housing scheme is highly recommended owing to its lucrative and strategic location. It has all the necessary and basic amenities like hospitals and schools in its proximity.

Upcoming Housing Projects

Credit to the Gaur Group, Greater Noida, and Ghaziabad will each see one more affordable housing project in the next three years. The plan is to bring forth 7000 flats within a buy rate of 15-25 lacs. The two projects will supposedly be located in the Yamuna Expressway and the Crossing Republic Township (Ghaziabad) respectively.

Interest Subsidy benefits

Under PMAY, the buyers of the affordable housing flats can avail the benefits of interest subsidy. There are certain criteria that need to be met, namely the absence of ownership of a pucca house by the buyer or any of his family members, to obtain the subsidy benefits. The amount of subsidy granted ranges from 2.20 lacs to 2.30 lacs, in accordance with the income group the buyer belongs to.

Velocity provides hands-on assistance to each and every one who is contemplating on buying one such house to ensure that you get the best possible deal.

Author's Bio: 

John Smith is a Digital Marketing Consultant with more than 8 years of experience in SEO, SEM, SMO, blogging, etc having wide knowledge base into content marketing.