The Reserve Bank has said that home to Rs. 45 lakhs, which has a home loan of Rs. 35 lakhs, will be included in the category of Priority Sector Lending (PSL). After this decision of RBI, home loan will be cheaper, because PSL loans are cheaper than the market interest rate.
The limit of loan is in metro city 35 lakh and another 25 lakhs: The Reserve Bank of India issued the notice on Tuesday, that it has been decided to combine the PSL guidelines for home loan with Affordable Housing Scheme and promote loan cost and EWS housing. According to this decision, home loan upto Rs. 35 lakhs in Metro cities and Rs. 25 lakh in other cities has been included in Priority Sector Landing.
This is the condition: However, there is also a condition that according to that the price of the house should not be more than 45 lakhs in metro cities (where the population is more than 10 lakh), whereas in smaller cities it should be less than 30 lakh rupees.
What is change: At present, a person has been included in the metro cities for 28 lakh rupees and in other cities, up to Rs 20 lakh in the category of priority sector landing. According to this, the price of home should be less than Rs. 35 lakhs in metro cities and in the small cities the cost of the house should be less than 25 lakh rupees.
Announcement on June 6: RBI announced this June 6th in its second bio-monthly monetary policy. Now in this regard, the RBI has issued the notification.Increase income limit also
In the notification of the RBI, further said that the Income-tax family income for the EWS Housing Project has been increased from Rs 2 lakh to Rs 3 lakh, while the annual income of the family taking the home loan of LIG category is Rs 6 lakhs.