Question : What Is 1% interest Subsidy On Housing Loan..?
– K. Kamala, Chennai – 600 017 via EmailAnswer by www.myreality.in Team
In the recent Union Budget (2012- 2013) extension of the subsidy scheme, providing 1% subsidy (Subvention) on housing loans up to Rs. 15 lakh for purchase of houses valued up to Rs. 25 lakh
Buying houses costing less than Rs. 25 lakh & where the housing loan availed is up to Rs. 15 lakh, get subsidy of one per cent interest. It is only for the first year of repayment.
So, any one can get a One time maximum subvention of Rs. 15,000 . The subsidy credit to the buyers account by automaitically.
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