Sikka Kanak Greens, Sector 10, Greater Noida West
- Project: Sikka Kanak Greens
- Address: Sector 10, Greater Noida West
- Price: 2650/Sq Ft
- Launched: January 2017
- Possession: January 2020
- Plot Area: 217800 Sq Ft
- Open/Green Area: 70 %
- No. of Units: 250
- No. of Towers: 1
- No. of Floors: 25
Unit / Floor Plans
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Sikka Kanak Greens Towers, Sector 10, Greater Noida West (Noida Extension) offers exclusive 2BHK / 3 Bedroom set in a sprawling campus of the Sikka Kirat Greens project. The layout is compact, providing maximum usable space and very low wastage area / loading rate. It is ideal for low-cost housing.
Pradhan Mantri Awas Yojana & Other Govt Scheme Benefits: You can also get the benefit of government subsidy of 3-4.5% on housing loans up to Rs 12 lakh. If you are buying your first house, you can enjoy the tax benefits as well as government subsidy or interest subvention schemes offered through banks.
Layout Plan – Zoomed – Sikka Kanak Greens (Lotus Tower)
Pradhan Mantri Awas Yojna – Credit Linked Subsidy Scheme
“Credit Linked Subsidy Scheme” for EWS and LIG categories under Pradhan Mantri Awas Yojana is available through banks. The scheme was announced with the vision of housing for all by the year 2022.
Who are eligible for Pradhan Mantri Awas Yojna?
- Families not owning a pucca house
- Economically Weaker Section (EWS) and Low Income Group (LIG)
- Families comprising husband, wife and unmarried children
Pradhan Mantri Awas Yojna Scheme Features
- Subsidy benefit of 6.5% p.a for first home buyers
- Upfront subsidy benefit on principal outstanding
The income norms for EWS/LIG categories are defined as follows:
- EWS households with an annual income up to Rs. 3 Lakh
- LIG households with an annual income between Rs. 3 Lakh to Rs. 6 Lakh
Beneficiaries of Economically Weaker section (EWS) and Low Income Group (LIG) seeking housing loans would be eligible for an interest subsidy at the rate of 6.5% for a tenure of 15 years or during tenure of loan whichever is lower on the initial Rs. 6 Lakh. Any additional loan/s beyond Rs. 6 Lakh, will be at non-subsidised rate.
How is the subsidy calculated? The bank will claim subsidy benefit for eligible borrowers from National Housing Bank (NHB). The NHB will conduct a due diligence to exclude claims where customer has submitted multiple request. For all eligible borrowers, the subsidy amount would be paid to the bank. Once the bank receives the interest subsidy, it will be credited upfront to the Loan Account and thus the loan amount gets reduced. The subsidy will be calculated on NPV (Net Present Value) basis at the rate of 9% discount rate. For example, the borrower avails a loan for Rs. 8 Lakh and the subsidy works out to Rs. 2,20,000. The amount (Rs. 2,20,000) would be reduced upfront from the loan (i.e., the loan would reduce to Rs. 5,80,000) and the borrower would pay EMIs on the reduced amount of Rs. 5,80,000.
What can be the size of house for the scheme? The carpet area (built-up area) of houses being constructed under this component should be up to 30 sq. m. (322.8 Sq Ft) for EWS category and up to 60 sq. m. (645 Sq Ft) for LIG category. However, the beneficiary can construct a bigger house.
Sikka Kanak Greens Review
Why to Buy?
- Promising locality
- Good road connectivity
- Proposed metro station nearby
- Compact layout
- Maximum usable space