Finance minister Pranab Mukherjee today extended by a year the 1% interest-subvention scheme for the housing sector and provided Rs700 crore for it in the budget for 2010-11.
"I proposes to extend the interest-subvention scheme for the housing sector to March 2011," he said, unveiling the budget proposal in the Lok Sabha.
Under the scheme, introduced last year, home buyers get 1% interest subsidy for banking loans up to Rs10 lakh, provided the cost of the house does not exceed Rs20 lakh.
Comments