Government employee interest free housing property scheme in Noida
Launch of Indian Government Employee Housing Scheme in Noida
The Railway Employee Welfare Society (REWS), an autonomous body registered under the aegis of Northern Indian Railways, has recently launched its coveted housing scheme in Delhi – NCR.
With this initiative REWS aims to provide affordable homes for lower and middle income segments’ Indian Government employees and working women. In the first phase of this project, construction of 1 BHK and 2 BHK flats has commenced in Greater Noida West. The 1 BHK flat is so inexpensively priced at INR13.95 Lacs and the 2 BHK flat comes at super economical INR19.99 Lacs only!
The MISSION TARGET!
The REWS aims to residential flats to Government employees and working women at ‘‘No Profit No Loss’’ basis in Delhi, Ghaziabad, Noida and Greater Noida during the first phase. The second such phase will see the Northern Railway Regions of Firozpur, Ambala, Moradabad, Bareilly and Lucknow being covered under this scheme.
The MISSION wish list of the REWS also includes the bringing quality education to the children of all such employees, provide ‘special pricing’ purchase stores (akin to CSD canteens for the defense personnel), provide high-standard medical facilities and hospitals, provide group insurance to all such employees that covers them and their dependent family members, continuously move the Government for introducing more tax exemptions to such employees and so on.
The VISIONARIES’ point of view!
The REWS is committed to provide twenty thousand such flats in the year 2016-2017 under the aegis of Central Government’s interest free property scheme in Noida, Greater Noida and Greater Noida West (formerly known as Noida Extension).
The registration procedure will yield a ‘demand funnel’ data for the concerned planning authorities to understand the ‘desperate’ housing needs of such employees.
The Registration Process
The application form can be obtained at the payment of Rs.100/- and the duly completed application form can be submitted along with a crossed cheque/DD in favor of "Railway Employee Welfare Society".
The ‘Payment’ plan
The successful applicant will also be able to opt for housing loan from the scheme partner banks and/or financial institutions. The successful allotted will have to deposit the 10% of the total payment amount within 15 days and next 10% in the next 45 days of the receipt of the allotment letter. Since this is the Government’s interest free property scheme, hence the balance 80% payment will be paid in sixty (60) EMIs that will carry no interest burden for the allotted.