Interest subsidy on Rs.15 lakh housing loan: Mukherjee

February 28th, 2011 - 2:12 pm ICT by IANS  

Pranab Mukherjee New Delhi, Feb 28 (IANS) In a boost to the housing sector, Finance Minister Pranab Mukherjee Monday said low-cost housing loans of Rs.15 lakh would be eligible to get an interest subsidy of one percent.”To further stimulate growth in the housing sector, I am liberalising the existing scheme of interest subvention on one percent on housing loans by extending housing loan up to Rs.15 lakh where the cost of the house does not exceed Rs.25 lakh,” Mukherjee said.

According to 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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