interest subsidy on housing loans
In order to boost the demand in the real estate sector and help the poor section in purchasing homes, the government has announced new policies that will offer an interest subsidy on housing loans. The Government awaits the approval of the cabinet for its Real Estate Development and Regulation Bill that will give an interest [...] Continue Reading »
Prime Minister Manmohan Singh has announced the launch of a home loans scheme – Rajiv Housing Loan Scheme. It will provide interest subsidy on home loans of less than 5 lakh. The new housing loans scheme is aimed at the urban poor of the country. The new scheme was announced on Independence Day. The PM [...] Continue Reading »
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 [...] Continue Reading »
The government, in the Budget of 2009-10, announced a scheme of one per cent interest subvention in respect of individual housing loans up to Rs 10 lakh, provided the cost of unit does not exceed Rs 20 lakh. The scheme was valid till September 30, 2010, with an initial allocation of Rs 1,000 crore. During [...] Continue Reading »
