New Delhi, July 4 ( ANI ): The Union Cabinet has granted the offer for fluctuating the intrigue of fascination overthrow of a percent on housing loans up to 15 lakh rupees is to year 2012-13. The cost of the residence should not be surpass 25 lakh rupees.
Briefing the preference of Cabinet discussion to media here, Union Home Minister P.Chidambaram mentioned that a budgetary ability of 4 hundred crore rupees has been done for financial year 2012-13 for implementing the scheme.
"The lengthened intrigue will gain all housing loans availed in financial year 2012-13," he added.
Consequent on the prolongation of scheme, the confine of funding for an particular borrower would be Rs.14,912 for a loan of Rs.15 lakh and Rs.9925 for a loan of Rs.10 lakh.
The initial intrigue of a per cent Interest Subvention on housing loans upto Rs.10 lakh, supposing the cost of the housing section does not surpass Rs.20 lakh was granted by the Cabinet in September, 2009.
The intrigue was revised by iberalizing the confine of housing loan upto Rs.15 lakh where cost of residence does not surpass Rs.25 lakh in financial year 2011-12 that was granted by the Cabinet in October 2011.
The intrigue is serve lengthened for other year that is financial year 2012-13. National Housing Bank (NHB) is the nodal group for implementing the intrigue both for scheduled blurb banks and housing financial companies. (ANI)