Govt raises interest subsidy limit of home loans to Rs 15L
In a move that could encourage buyers of low cost houses, the Finance Minister Pranab Mukherjee today said the one per cent interest subsidy will be available on home loans of up to Rs 15 lakh against the current level of Rs 10 lakh.
Announcing this in his Budget for 2011-12, Mukherjee also increased the value of houses eligible for availing the interest subsidy by Rs 5 lakh to Rs 25 lakh per unit.
“To further stimulate growth in housing sector, I am liberalising the existing scheme of interest subvention of one per cent on housing loans by extending it to housing loan up to Rs 15 lakh, where the cost of the house does not exceed Rs 25 lakh from the present limit of Rs 10 lakh and Rs 20 lakh respectively,” he said while presenting the Budget.
Tags: 20/20, Videos, world news, Local News, Good Morning india
Short URL: http://www.delhimetronation.com/?p=2144
Posted by admin
on Feb 28 2011. Filed under Breaking News.
You can follow any responses to this entry through the RSS 2.0.
Both comments and pings are currently closed.