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Whether the RML scheme is only for urban areas or is it also for senior citizens living in semi-urban or rural areas?

April 26, 2017areas citizens Living rml rural Scheme semi-urban Senior urban

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Whether the RML scheme is only for urban areas or is it also for senior citizens living in semi-urban or rural areas?

1 Answer

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10 Posted

The scheme is applicable for the entire country including rural areas. The property should be mortgagable. In some rural areas agricultural land cannot be mortgaged and hence reverse mortgage loans cannot be considered against a house constructed on such agricultural land.