3 Things You Must Know about Pradhan Mantri Awas Yojana

In June of 2015, Prime Minister of India launched a scheme called Pradhan Mantri Awas Yojana with the objective of providing “Housing for all” by the year 2022. If you are eligible to avail this scheme, not only can you buy a new home for your family, you can also renovate or extend your house and make it better than before. However, to be eligible and fully able to utilize the benefits of PMAY yojana, there are certain things that you must know about this scheme. Following are the points:

1. No Processing Fee

The objective of PMAY yojana is to provide housing for all, especially to people who are not financially strong enough to buy a house. There is no registration fee or any kind of fee involved anywhere in the process. The whole modus operandi of PMAY is transparent and no individual working in the scheme is allowed or has the authority to charge any kind of fees. The whole process is free, and for all applicants. No exceptions.

2. Tenure of the Loan

Under the PMAY, the stipulated tenure of the loan is 20 years. Yet, it is not a rigid number, only the maximum period in which one has to repay subsidized loan. If an individual can repay the loan in shorter amount of time and so as to reduce their interest, they are allowed to do that as they are comfortable.

3. Not all Banks are Part of PMAY

One of the common myths about PMAY Yojana people have is that all banks are part of it and they can get subsidized home loan from any bank. That is not true. Only some banks are associated with PMAY. Similarly, not all real estate developers are associated with PMAY either. To know the list of banks and real estate developers associated with the project, visit the official PMAY website.

Since its launch PMAY has been gradually reaching towards its goal to provide housing for all. And the rate at which it is currently working, it will. So, if you want to avail the benefits under PMAY, you have must know the aforementioned things about it.

Why investing in a smart city makes sense?

With urbanization on the rise, we are presently faced with an acute resource crunch. This makes it pertinent to look for a home in a smart city, which apart from being environment friendly, is also designed in a way to use resources more judiciously. For example, Uppal Chadha Hi-Tech City, in Ghaziabad is a township project being developed as a smart city. Now, the question on everyone’s mind is: what is a smart city and what are its features? A smart city is an urban space that uses information and communication technologies to enhance operational efficiency, share information with the public, and improve both the quality of government services and citizens’ welfare. Now, let us explore the features of a smart city:

Features of a smart city

Effective Water Management System

Water is an essential commodity for all and there is a severe shortage of the same in some of the big cities. So, the onus is on us to use the water appropriately. This is where an efficient water management system, a hallmark of a smart city, comes in handy. The system ensures that water is distributed equally in all apartments without any wastage. There will also be security systems in place to make sure there is no water theft.  In case a water pipe develops a leakage problem, then the same can be immediately recognized and resolved.

Installation of Smart Electric Grid

This is another vital feature that makes home buyers opt for smart cities. Through a smart electric grid, residents can see their power consumption over the web, and even pay bills online. No paperwork is involved in the entire transaction. Also, you can easily discontinue the power supply through your phone in case you’re travelling, to minimize energy consumption.

Enhanced Security

Safety and security are big concerns these days. Similar to a residential society, a smart city will have a fool-proof security system in place. To begin with, they will have high quality CCTV cameras throughout the city to monitor the vehicles entering and exiting the premises. And if they are in the city, their locations are tracked. Despite being a gated community, entry of an unauthorized vehicle can still be curbed.

So, all these reasons make it amply clear how a smart city can revolutionize the lifestyle of citizens going forward. Hence, it makes absolute sense to invest in a smart city.

Reasons to Invest in Independent Houses in Ghaziabad

For the past few years, the demand for independent houses in Ghaziabad has peaked considerably. These have drawn affluent ones, investors and a majority of the aspirational urban population to the city. With the smart city tag and rapidly evolving infrastructure, Ghaziabad is an ideal place to own an independent house and lead a lifestyle you always aspired for. Also, by investing in independent homes of Ghaziabad, you can enjoy several perks as well.

Benefits of buying independent homes in Ghaziabad

Unlimited comfort and joy

Owning an independent house in the smart city adds to the prestige of the owners. Property developers are constructing a lot of independent homes with world-class facilities and modern comforts to attract the home buyers. Some of the houses have amenities such as swimming pools, themed, landscaped gardens and gyms, entertainment and shopping facilities etc to make the whole living experience of the residents more enjoyable.

Enhanced Security

The other vital advantage of living in such homes is that they come with state-of-the-art security system, both in terms of trained security staff and secure technology tools installation. The builders make sure that the houses are constructed in close proximity to the police station and hospitals to deal with any type of emergency situation.

Several amenities nearby

Ghaziabad is growing rapidly with several projects intended to maximize the convenience of its residents. The city has everything from top healthcare facilities to shopping malls and restaurants to IT hubs. These apart, there are several upcoming projects in the city to make it an ideal place to settle down.

Properties to appreciate greatly in future

Ghaziabad is evolving at a breakneck speed and is witnessing a major transformation in terms of infrastructure and real estate prices. Going forward, the realty prices are bound to hit the roof owing to the heavy demand from buyers. This applies to independent houses as well. Hence, the time is apt for investment in the luxury segment to get the most out of an early purchase.

So, for all these reasons it can be safely argued that buying an independent home in Ghaziabad has several benefits. The time to invest is right now, as the prices are reasonable at present, but can get dearer in future.

The Unique Features of Wave City

The Uppal Chadha Group introduced the concept of Hi-Tech Township in Ghaziabad, UP, which is presently known as "Wave City." The Project is located on NH-24, which is being developed as a 16-lane expressway. The total area envisaged for the development is around 4,500 acres and the phase-I of the project is being developed in 1,600 acres.

A Brief on the Wave City

The Wave City is a development having state-of-the-art independent floors, villas, mid-rise apartments, shops and office spaces. The city is only 30 minutes apart from Delhi, and 10 minutes from Indirapuram and proposed metro station. The city will be having several amenities such as park, lake, gymnasium, sports complex and parking area. The numerous other features of the city include effective waste management, round-the-clock CCTV surveillance, automated water management, etc.

What Makes the Wave City So Special?

Efficient Water Management System

The Wave City will be equipped with a water management system that will enable the residents to use water judiciously. The system ensures 24X7 water availability at all height levels and will also detect water leakage automatically. Also, the system will negate the possibility of water theft and the residents will be charged according to the usage.

Solid Waste Management

Pile up of garbage is a big issue in all the cities. Hence, it is important to dispose the waste properly, in order to keep our surroundings clean. The solid waste management system at the Hi-Tech city keeps the area green and will also generate the manure for horticulture. The system will also minimize the emission of Co2 into the air. There will also be composting systems in each sector of the city for the purpose of decomposing the organic waste.

Enhanced security

Safety is a topmost concern in most cities, especially of women and children. At Wave City, the safety of its residents will be monitored very closely. In this endeavor, the city will have its own homeland security with close to 200 guards, 24X7 patrolling vehicles and surveillance through CCTV cameras. All the vehicles coming to and leaving the city will also be scrutinized closely.

These apart, a total of 95 kms of roads will be developed out of which 50 kms have already been laid. There will also be a total of 5,000 street lights in the city of which 2,500 have already been installed.  The chief objective of the city is to develop state-of-the-art estates that are conducive for high quality living. The project also strives to create an atmosphere to maximize private investment in the housing and infrastructure development. On the whole, the Wave City is a great option for investment in the real estate sector.