How much interest subsidy is given to poor people for buying low-cost homes?

Q: I have heard that the government provides interest subsidy to low income buyers for buying homes. But can you tell me how much will be given and what will be the time period.

Nithyaanand, Mangalore

23rd January 2013

Home Loan in Mumbai

affordable housing projects

interest subsidy

low cost homes

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Replies (4)

CAN U PLEASE TELL US THE PROCESS. AS WE ARE LOOKING FOR SUCH SUBSIDY.

MAKARAND GADADE,

Priti Makarand Gadade,

13th April 2013

Comment

The Ministry has changed the definitions of EWS and LIG. The households which are earning Rs 1 lakh or less a year are considered economically weaker and the ones earning Rs 2 lakh a year are considered as low-income group.

Abhijit Thanki, Mumbai

30th January 2013

Comment

Hi guys, in order to support housing for the poor, the govt has planned to increase the cap on the interest subsidy scheme from the present Rs 1 lakh to Rs 5 lakh. The scheme has not been getting good response even though certain changes were made earlier.

Ashish Sharma, Mumbai

29th January 2013

Comment

Hi Nityanand, earlier it was 1 lakh only.. recently it was said by the Ministry of Housing and Urban Poverty Alleviation that it is planning to increase it to 5 lakh.. Not yet announced when it will be started..

Kamal, Kochi

24th January 2013

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