Government Home Buyer Grants
The three basic needs in life are food, shelter and clothes. Amongst the three shelter is considered to be the most basic and expensive requirement for everyone. It is every body’s nice dream to have a well designed and beautiful home in life. But every one can not fulfill this dream due to without of finance.
Here comes the role of ‘Government home buyer grants’, assistance by different agencies like edges, financial institutes, personal help etc. More over many NGOs (Non Government Organizations) are also coming forward with helping hand to assist the needy one to fulfill the dream of a nice home.
The government has a dominant role to play in assisting the people who really need financial help. There are many ‘government home buyer grants’ in the form of loan, grants, subsidies etc. There is a well managed department to monitor the housing requirement of every citizen in almost every country.
In the USA, Department of Housing and Urban Development (HUD) plans housing schemes, existing housing loans, new rates etc for housing. It issues a Data Universal Numbering System for registration course of action. The grants are regulated by existing laws. In the recent past Equal Housing Opportunity February 2007 has became more popular and the US government is offering loans, grants to attempt houses by every one.
There are different schemes offered by the provinces like Maryland, New Jersey of United States of America especially for the first time home buyer such as low down payment facility with low interest rates. But the US government will check your credential and repayment capacity before granting the loan.
In India also there is a well managed housing department of both the central and the state government. In the Central Government the Ministry of Housing and Urban Development is controlling this department. Many welfare and financial assistance schemes are launched by the government in urban and rural areas.
To establish a legal and equal facilitation system, the government is earmarking society on the basis of income. There are two groups of citizens i.e. citizens having very low monthly income of 1000 are marked as people living below poverty line (BPL) The government has many housing facilities reserved for BPL citizens.
Under the ‘Indira Gandhi Awas Yojna’ every BPL family will get a medium house free of cost as a grant. There are many associated facilities with the grants. Free electricity and free renovation facilities are provided for them. The state government also provides low interest loan to the people. You can also get more loans if you mortgage your house keep up similarities to the government and you can get ‘government home buyer grants’ from State Bank of India if you are a government employee.
In urban areas ‘Jawaharlal Nehru Urban Housing Renewal Mission’ is in force since 2 years back and assists urban people with loan and grants. Generally in metro cities like Delhi, Mumbai, Kolkata, Chennai, Hyderabad renovation of old homes and building of new houses are going in complete swing for last 5 years with the help of government grants.