Boost For Affordable Housing In Metro Cities As Home Loans Of Up To Rs 35 Lakh May Cost Less

The decision of the Reserve Bank of India (RBI) to hike repo rates by 25 basis points, indicating tightening in the interest rates, could make all loans including home loans costlier, but the revision of housing loan limits for priority sector lending (PSL) from existing Rs 28 lakh to Rs 35 lakh may lead to reduction in the interest rates on home loans up to Rs 35 lakh.

Click Here: essendon bombers guernsey 2019

In its policy decision, RBI, in order to give a fillip to the low-cost housing for the Economically Weaker Sections and Lower Income Groups, it decided to revise the housing loan limits for eligibility from existing Rs 28 lakh to Rs 35 lakh in metropolitan centres, and from existing Rs 20 lakh to Rs 25 lakh in other centres, provided the overall cost of the dwelling unit in the metropolitan centre and at other centres does not exceed Rs 45 lakh and Rs 30 lakh, respectively.

bccl/representational image