Borrowing to build a new home is a very different process from borrowing for an established one. In fact, some lenders who happily offer mortgages for existing homes actually don’t offer construction loans, which they consider too much work or too much risk. Often they don’t have the systems to monitor and process the payments for the stages of a construction loan.aPradhan Mantri Awas Yojana – Urban (PMAY-U), a flagship Mission of Government of India being implemented by Ministry of Housing and Urban Affairs (MoHUA), was launched on 25th June 2015. The Mission addresses urban housing shortage among the EWS/LIG and MIG categories including the slum dwellers by ensuring a pucca house to all eligible urban households by the year 2022, when Nation completes 75 years of its Independence.
