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Govt to provide 1% home loan subsidy, who will be beficiary of this 1000 crore ?

bharat_vora's picture
Submitted by bharat_vora on July 28, 2009 - 01:31

Finance Minister Pranab Mukherjee today announced an interest subsidy of 1 per cent for one year on housing loans of up to Rs 10 lakh for properties worth less than Rs 20 lakh.

Key :

1. House should be worth more then less then 20 Lakh.
2. Home loan should be 10 less then 10 lakh.

Assuming a monthly saving of Rs 60 per lakh, today’s announcement implies that a borrower saves about Rs 7,200 on a 15-year loan of Rs 10 lakh.

This will cost govt 1000 crore a year . Which companies will benefit from this.


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