Raising the Priority Home Loan Limit Will Not Benefit the Home Buyers in Metropolitan Cities
Budget 2011: Raising the priority home loan limit from Rs 20 lakh to Rs 25 lakh is good news for the low-income group segment. This will boost the affordable housing segment. However, this will not benefit the home buyers in metropolitan cities.
The interest subsidy of one per cent on housing loans of up to Rs 15 lakh will boost low-cost housing. The subsidy is for homes worth not more than Rs 25 lakh. Earlier, the interest subsidy was for loans up to Rs 10 lakh for houses costing not more than Rs 20 lakh. However, this will not benefit the home buyers in metropolitan cities.
However, this will not benefit the home buyers in metropolitan cities like Mumbai and Delhi as there are hardly any properties available for Rs 25 lakh. But in small cities, this will boost the affordable housing segment.
‘‘Raising the priority home loan limit from Rs 20 lakh to Rs 25 lakh is good news for the low-income group segment, but will do nothing to ease the pain in metropolitan cities where realty prices are high, and therefore demand for affordable housing is the highest. Companies rolling out budget housing will be benefited,’’ said Anuj Puri of Jones Lang LaSalle India.
TOI
Affordable housing segment, Budget 2011, Budget 2011 real estate, Budget for 2011-12, Home buyers in metropolitan cities, interest subsidy on housing loans, Priority home loan limit, Raising the priority home loan limit will not benefit the home buyers in metropolitan cities
[...] group segment. This will boost the affordable housing segment. However, this will not benefit the home buyers in metropolitan cities as there are hardly any properties available for Rs 25 [...]
My Flat Cost is 22.5 so as per new priority home loan limit what would be the LRV for my flat 80 or 85%
Question: I buy a house for 35 lakhs and pay 11 lakhs out of my pocket. Loan is only for 24 lakhs. What benefit I will get? Comparing this with Paying 9 lakhs from pocket and taking a loan of 26 lakhs?