The govt. of India has started implementing home mortgage interest subsidy makeup seeing a mortgage of Rs10 lakhs for a home having a cost for no longer more than Rs20 lakhs. The interest presentation has come into agility w.e.f. 01.10.2009. This outline will be available till 30.09.2010. The cost of interest subsidy is for 1%. It is a good move by way of the govt. This will boost the precise property sector. indubitable will have the real score on real property unit when the limit of home loan is enhanced from Rs10 lakhs to Rs25 lakhs as average domestic loan amount required for middle class people is around Rs25 lakhs. If the ceiling of domestic mortgage amount for interest subsidy is still Rs10 lakhs, the benefit will attack to a few home buyers. The resolve of the present scheme commit not be a lot as price of houses are ropes the range of Rs25-30 lakhs in most of the present projects and the domestic loan need for such apartment will be Rs20-25 lakhs. Even in the most inexpensive projects of leading builders and developers the price of apartment is more than Rs25 lakhs again home loan requirement will speak for Rs20 lakhs or therefore. For percolating the benefits of home mortgage interest subsidy, the govt. should amend the present norms and enhance the ceiling at least to Rs25 lakhs to apportion real effect on real estate sector.All the lending banks and financial companies should promote the availability of home loan interest subsidy drawing of govt. of India so that more and additional people should know approximately it and avail this benefit.The period of availability of this scheme should also show increased from one year to five years to grant inclination term effect on actual estate sector. If govt. of bharat foregoes some revenue impact the found of extending home loan interest subsidy, it will get many more other benefits when sharp is increase in sale of dwelling units. Increase in sale of dwelling units will increase the demand of steel and iron, cement, bricks, etc. It will also increase the demands of other household items like furniture, paints, furnishing items, etc. Increase in sale of these items will bring more revenues to govt. in the form of sale tax, etc. When more houses are sold and owned through people, govt. consign get supplementary confused revenues in the institute of property tax as comparison to the home loan impinge subsidy given by the govt. Thus to earn more revenues also to give compensation to real estate sector, the govt. should come forward go underground more liberal domestic loan interest subsidy scheme. For more info log on to http://www.zameen-zaidad.com And http://www.propertycafeteria.com/main.aspx
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