Thursday, October 1, 2009

Government launches interest subsidy scheme for low-cost homes

Aimed at promoting low-cost housing, the government today launched interest rate subsidy scheme that could help a home loan borrower save up to Rs 10,000 in EMIs, provided the cost of house is less than Rs 20 lakhs

"The interest subvention scheme of 1 per cent (will apply) on all individual housing loans up to Rs 10 lakh for units costing up to Rs 20 lakh," an official release said.

Under the scheme, one per cent subsidy will be given on first 12 Equated Monthly Installments (EMIs) to be paid by the borrowers to the banks.

The scheme will cover all regions of the country and is expected to give a boost to credit flow to the housing sector and create additional employment in the housing and allied sectors, such as steel and cement, the release said.

The interest subsidy will be routed through the commercial banks and the housing finance companies registered with the National Housing Bank.
To read more, please, visit The Economic Times

Related Story:

Sky Heights, premium 1 BHK and 2 BHK Flats in small sizes and budgets, behind Matoshree Garden, Undri Pisoli Road, Pisoli, Pune

Subscribe for Free!

To receive free emails or free RSS feeds, please, subscribe to Ravi Karandeekar's Pune Real Estate Market News Blog

For my blogs on real estate projects near Hinjewadi, real estate investment, advertising and other related topics, please, visit and join my Ravi Karandeekar's Pune Real Estate Blog Group

1 comment:

  1. Kya fayada?

    20 Lakhs mein 2-bhk flat kaha milta hai?

    ReplyDelete