home loan interest subsidy

POSTED BY bharat shah ON March 1, 2011 6:32 pm COMMENTS (3)

fm annouced home loan interest subsidy increase limit upto loan 15 lacs for upto 25lacs cost of house. i like to know

1.is this loan interest subsidy  automatic for all eligible loan from the recognised institutes/banks, or it requires applying individully for the same?

2.is it applicable for whole tenure of the loan?  

3 replies on this article “home loan interest subsidy”

  1. Sud says:

    Dear All,
    Where do you see home price at 25L in India? This would only benefit those people who have black money. Suppose a flat cost 40L, these black money ppl would pay 20L as black, rest 5L as white, and get the interest subsidy on remaining loan of 15L! Cruel, but true!

  2. bharat shah says:

    thank you for advice. meantime i learnt from a bank website that such subsidy is for one year only for loan taken in specified period. i think, its automatic i.e. sanctioned taken by the concerned bank/institute.

  3. ashal jauhari says:

    Dear Bharat shah, The subsidized home loan is classified as priority sector lending by Govt. of India. I ‘ll ask you to visit any Govt. bank branch near to you & you ‘ll get the required info.

    Thanks

    Ashal

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