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RBI launches fresh subvention home schemes from April 2012

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Here is good news for the home buyers at recent Union Budget of speech of 2011 – 12. According to the sources of www.propertykhazana.com earlier it was just one percent on the housing loans as a part of subvention scheme of interest but now it has been extended to Rs 15 lakh of housing loan. At the same time the cost of the house has also been extended to the limit of Rs 25 lakh from the present amount of just Rs10 lakh and Rs 20 lakh respectively. The other formalities are almost at the end of the final stage and will be made applicable from the April 2012.
The other rates related to the housing loan will be valid till the last night of the March of the coming year. It is also made clear that no subvention of the proposed schemes will not be allotted to any sanction loans though the processing is been completed during the term of October 1 – 2009 and 31 March 2011.
Source: NIMMA BENGALURU

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