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HRD Forum Awareness Prog on “Incentives by Central & State Govts to achieve Housing for All – Provident Fund, PMAY & Stamp Duty”


HRD Forum of Vidarbha Industries Association organised an awareness program on “Incentives by Central & State governments to achieve Housing for All – Provident Fund, PMAY & Stamp Duty” at VIA.

Mr D K Nandurkar, Sr Enforcement Officer of EPFO, Nagpur Area said despite having made massive leaps in development over the last decade or so, India still has a large number of people living in abject poverty, most of whom don’t have a house to call their own. The Indian government took up a serious step towards abolishing homelessness with the introduction of Pradhan Mantri Awas Yojana. This project, which was previously known as Housing For All, will provide a roof to over 20 million people by the year 2022. In order to do so, the Ministry of Housing and Urban Poverty Alleviation has set a route map and has also made clear the eligibility criteria a prospective applicant need to meet. “Pradhan Mantri Awas Yojana is not just about merely building houses. This is a significant step in making the dreams of the poor come true”

He also said objectives of the Pradhan Mantri Awas Yojana (PMAY) : To ensure that the People of Urban India can live under a roof of their own. To provide financial support to people who can’t bear the entire cost of building a residential property. There are millions of People who are covered under this schemes, everyone dreams to have his own house but financial constraints stops them.

Mr Gaurav Agarwala, Director of Sandeep Dwellers Pvt Ltd in his presentation informed about Stamp Duty Benefit : If Income of a person is less than Rs.3 lacs per annum. Stamp Duty amount will be Rs. 1,000/- + 2.5% only instead of 7.5%.

This can prove to be like “Dream Come True” scheme for many of those. Details of Subsidy under PMAY : Subsidy from Rs.2,30,000/- to 2,67,000/- under Pradhan Mantri Awas Yojana subject to following conditions the family (Husband, Wife & minor Children) income should be less Rs.6 lacs / 12 lacs / 18 lacs per annum. No other Pucca House anywhere in India in the name of the Family (Self Affidavit to be given). Aadhar card Compulsory.

He said that Provident Fund : Employee provident fund organization has been coming up with many initiatives. 1) EPFO members will be able to withdraw up to 90 per cent of their accumulation (employer’s as well as employee’s contributions, including interest) in the PF account or the cost of the property, whichever is less to provide for the purchase or construction of house/flat or for buying land. 2) Monthly instalments can be made from the PF money against any outstanding loan in the name of the EPFO member or spouse, provided both are EPFO members. 3) For payment of equated monthly instalments (EMI) through one’s EPF account,  banks  or lending institutions will consider the contributions made to an employee’s PF account over the past three months to calculate the EMI.

He further said under this scheme SDPL Aashray Dabha is a 1 BHK township with flats and “SDPL AASHRAY – Dhaba.” For more details about “SDPL AASHRAY – Dhaba”, for more details please contact 98232-64348.

Earlier, Mr Pratik Tapadia, Chairman – VIA Knowledge Forum in his welcome address said Pradhan Mantri Awas Yojana is beneficial for employees and while discussing with guests speakers many employees have taken actually benefited of subsidy under this scheme. We should inform to our members and needs campaign scheme amongst employees. Mr Pratik Tapadia welcomed Mr Gaurav Agrawalla with floral bouquet and Prof Ashit Sinha welcomed Mr D K Nandurkar. Prof Ashit Sinha, Ex-Vice President – VIA summed up the session and said this is wonderful scheme of Government, and every HR Manager and HR Department must disseminate this information amongst their employees and if possible provide financial loan with or without interest for purchasing own house under PMAY Scheme, this will also retain their workers for a longer period and proposed a formal vote of thanks. Mr Neelam Bowade, Convener of VIA HRD Forum conducted the proceedings.

Vidarbha Industries Association (VIA) conducted an awareness program on “Incentives by Central & State Government to achieve Housing for All – Provident Fund, PMAY & Stamp Duty”, at VIA in collaboration with SDPL and the EPFO Department. (The details of which are annexed herewith)

The Government took up a serious step towards abolishing homelessness with the introduction of

  1. Pradhan Mantri Awas Yojana – Subsidy upto 2.67 Lakhs.
  2. Stamp Duty – Concessional stamp duty rate i.e Only Rs.1000 + 2.5%, instead of 7.5%
  3. Provident fund – Monthly Employee share can also be used to pay the EMI of the Home loan.

The main issue that comes into picture is that flats under such concessional rates are either sold out, not available, or are not within the city limits. However this issue has been addressed by M/s Sandeep Dwellers Pvt Ltd one of the leading construction companies in Nagpur.

This is a great opportunity for empowering your employees and making them aware of the benefits of the incentives and a very powerful tool for Employee Retention.

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Government Schemes for buying your House – SDPL Aashray

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