My home loan was sanctioned in June 2016. Am I eligible to avail subsidy under PM Awas Yojana?
Yes, you are eligible for home loan if you meet all eligibility criteria of PMAY.The family net income should be between Rs 6 to 18 Lakh per year. This includes the combined income of husband and wifeThe house should be your first houseThe house should be a new constructionThe manual wayGet registered under the scheme at Common Service Centers (CSCs) facilitated by your respective state government. At this step, you have to pay a registration fee of Rs 25 plus GST.While registering, fill in details like name, area, Aadhaar card number, and so on in the application form.After submitting the form, you will receive an application number which can be later used to track the status of the application.OnlineLogin to PMAY-HFA(Urban)Select ‘Citizen Assessment’ option at the top of the menu barSelect one of the two options — Slum Dwellers or Benefit under other 3 components(Note: Benefits under 3 components include credit-linked subsidy, affordable housing in partnership, and subsidy for beneficiary-led individual house construction/enhancement.)Enter your Aadhaar number to proceedFill in all the required details in the application formSave, print the application, and note down the application number for tracking the status.
How much has your salary increased from your first job to today?
June 2014 : 5 lpaNov 2015 - Present : 13.5 lpaI completed my graduation from VIT University in Computer Science stream . When I joined the college, I never really thought of the salary or the company I want to join. All I knew at that time was that there was 100% placements at VIT. So I was happy and carefree for the first 2 years. But as soon as I reached my 3rd year, I became a little serious about this stuff and gradually became more aware of the companies and their packages that came for recruitment. Finally the 4th year started with a bang. There were companies like Flipkart, eBay which came in the 1st week itself and their packages were more than 10 lpa. I couldn't get selected in those companies. A couple of months passed by and even after making to the final of 2–3 companies , I couldn't get selected. By October the companies which were coming were paying 4–6 lpa.In the first week of October I got selected in a startup and the salary was 5 lpa with a joining bonus of 50K. I cannot even describe that feeling. Though the package was less than I had anticipated earlier, I was happy to finally get a job offer. So finally I joined in December 2013 for internship in the same company at 15 k per month. In June 2014, they converted me full time and I was drawing somewhere near 37 k.Then came the appraisal season. The condition of the company was really bleak and it was going thorough a resource crunch. When I asked my seniors in the company about the hike, I was shocked to know that last year there was no hike for any employee. When my manager called me in his office for appraisal discussion, I went in with little hopes. To my surprise he told me that my package has been increased to 8.3 lpa. That was unbelievable for me. Though I was pretty hard working and sincere in my work, I never expected this much of a hike. The primary reason for this hike was that already a lot of employees had left the company. So the company wanted to retain the remaining employees.Till then I was working as a Java developer. But I had interest in Android programming. So around August I started to look for a job in Android development. After spending 1 month for interview preparation and giving the interview of 4 companies, I had offer from 2 well funded start-ups. One of them was offering me 15 lpa and the other 13.5 lpa + 1 lac joining bonus. I decided to go with the latter after my assessment of both the companies.
What is the procedure of repayment of a educational loan in India, when to start repay?
I recently started repaying my education loan after 1 year of graduation. I got no calls from bank side until more than a year since i graduated. One day bolt from blue, I got call from manager and he told me that i had the overdue since last 7 months but then i fought for no gerting any intimation or remainder from bank side. He accepted the bank mistake and agreed to reschedule the repayment 5 month later which is exact after twelve month of my graduation. I wrote an application for reschedule and sent him a scanned copy of application over email. I couldn't go to bank branch as i was working in other city.Generally, you can start repaying the education loan after 1 year of your graduation or 6 month after getting job, whichever is early.Procedure of loan repayment:There is nothing much to worry about repayment. Bank manager will take your account detail and will put it on auto deduction on a particular date. The EMI amount will be deducted from your account automatically on monthly basis.Extra note: Be in regular touch with bank if you are not hearing anything from bank side regarding your loan repayment. There are strong chances that they people started your repayment but didn't inform you(mostly happens in govt bank).EDIT: I have been receiving many pings regarding reschedule. I am reiterating it that it all depends on your bank manager and how you deal the situation.If you had missed the payment then you are liable to pay the fine even if bank didn't notify you. It is well written in your loan agreement docs.It is always advisable to deal such scenarios professionally.Thanks
I want to live in Manhattan, New York?
Here's a quick, very brief wrap-up of the points you asked about: Expensive: very expensive compared to rest of NYC, which is relatively expensive compared to rest of USA - especially when it comes to real estate. Groceries and gas prices are also a little bit higher than the rest of the country, so yes, the cost of living in Manhattan is among the highest in the United States. Apartments: Unless you want to live in a ratty area like Harlem, expect to pay $3k per month for a decent 2-bedroom apartment (and I don't mean "luxurious" by decent). You can find a decent apartment in Brooklyn for the price of a grotty one in Harlem - and you don't want to live in Harlem, so it's just better to cross it off the list altogether. So unless you're pocketing a six-figure salary, it's hard to live a good life with a family. Traffic: most people in Manhattan commute to work by subway and mass transit, because parking prices are so damn high and the streets are mostly taken up by cabs. Traffic is relatively low on Sundays, but otherwise consider it a rush hour all the time. Weather: maritime climate - full sunny summers and hard winters, pleasant spring and fall. And lots of precipitation (rain and snow). But the weather isn't that big of an issue altogether. Community: very diverse, vibrant and amazing lifestyle - no matter which part of Manhattan you're in. There's Little Italy, Little India, Chinatown and restaurants that serve pretty much every taste - you'll have no trouble finding your own people. That's one of the best things about Manhattan, and NYC in general. Crime rate: like rest of NYC, very low compared to other large cities in the US. Although Harlem is slightly behind in this regard (slightly), it's still way, way better than it was back in the 80s or early 90s. Another thing, when people think of NYC, they often think of Manhattan only and all the glitz and glam associated with it. Reality check: not everyone in Manhattan and NYC lives like a celeb, and there are good, relatively cheap areas in NYC outside of Manhattan - it's just a matter of finding it. The best thing about NYC is its lifestyle, rather than specific areas, and the lifestyle more than makes up for the high cost of living.
Is an existing home loan customer eligible for Pradhan Mantri Awas Yojana?
The answer is - “Yes”!Any home loan account holder, who has bought the home / constructed on or after 25th June 2015, coming under LIG/EWS Category can avail the benefits of the CLSS-PMAY subsidy scheme.Similarly, any home loan account holder, coming under the MIG category, also fulfilling the below-mentioned criteria and has bought/constructed the home or after 1st January 2017 can avail the benefits of the CLSS-PMAY subsidy scheme.What am trying to say, is the property should be your first home and the sale deed of the property needs to be executed on or after the above-mentioned dates!Now, let’s understand the two categories: EWS/LIG & MIGThe beneficiaries under the PMAY – CLSS (EWS /LIG) scheme are eligible for a subsidy of up to Rs.2,67,280 on their home loan. Under CLSS – MIG (Middle Income Group), max subsidy for MIG1 – is Rs. 2,35,068 & Max subsidy for MIG2 – is Rs. 2,30,156.The table given below is what all you need to know about PMAY scheme:To apply for the subsidy, you can contact your lending institute. Or you can apply directly to the Gov. website - pmaymis.gov.in.To apply for a home loan under PMAY click here