Good news for home buyers, to get 1 per cent subsidy
Finance Minister Pranab Mukherjee on Monday announced one per cent subsidy to home buyers taking loans less than Rs 10 lakh, while the cost of the house should not exceed Rs 20 lakh. This step is aimed to boost the middle income home sector.
THERE IS good news for people planning to take a loan and buy a house, particularly if they belongs to the middle class. The Finance Minister on Monday in the Lok Sabha announced that government will make available one per cent interest subsidy to the middle class home buyers.
Replying to the debate on Finance Bill 2009 in the Lok Sabha, the finance minister Pranab Mukherjee announced that one per cent interest subsidy will be available to individuals for loans up to 10 lakhs for houses that do not cost more than Rs 20 Lakhs.
Mukherjee said that this step has been taken to push the lower and middle income housing, which will stimulate the buyers in this segment. He also proposed to provide 1000 crores for subsidising the home buyers. The Finance Bill 2009 Bill was also passed in the House with few amendments.
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.I have availed home loan of 8.65 Lkhs during the current year, How will I get the Interest Subsidy?
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