'Interest subsidy on Rs.15 lakh housing loan'

Feb 28, 2011 |

IANS

New Delhi

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In a boost to the housing sector, finance minister Pranab Mukherjee on Monday said low-cost housing loans of Rs.15 lakh would be eligible to get an interest subsidy of one per cent.

"To further stimulate growth in the housing sector, I am liberalising the existing scheme of interest subvention on one per cent on housing loans by extending housing loan up to Rs.15 lakh where the cost of the house does not exceed Rs.25 lakh," Mr Mukherjee said.

According to Mr Mukherjee, the interest sop will help the sector by extending the existing subsidy of Rs.10 lakh, where the cost of the house does not exceed Rs.20 lakh.

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