New Delhi In order to give a major push to the low-cost housing for low and middle-income groups, the Centre is set to give a relief in the form of 1% interest subsidy on housing loans of up to R15 lakh where the cost of house is up to R25 lakh. As a result, the burden on the government is expected to be to the tune of R500-600 crore.
“The Cabinet will take up the issue on Tuesday,” a senior official said. The decision is expected to benefit borrowers by providing a relief of around R15,000 per annum on loans up to R15 lakh. Till last year, the limit of subsidy for an individual borrower was up to R9,990 on a loan of R10 lakh