Interest Subsidy Scheme
Finance ministry plans unified portal for govt-sponsored schemes
This is set to boost efficiency and reduce redundancy while providing greater convenience to bank functionaries implementing these schemes, said a senior government official
 "Finance ministry plans unified portal for govt-sponsored schemes")
Interest subsidy scheme makes more sense for smaller towns
If you stay in tier-II or tier-III cities, you stand to benefit the most from the government's newly-introduced credit-linked interest subsidy scheme for middle class. For those in metros, the scheme does reduce the cost of purchase but not as significantly."The benefit in the scheme becomes a function of property price as the maximum benefit an individual can avail is capped. Lower the price, higher is the percentage of the subsidy," says Mudassir Zaidi, a property consultant.If an individual earns between Rs 6 lakh and Rs 12 lakh a year, the government will provide an interest subsidy of four per cent or a maximum of Rs 2.35 lakh for a house that has a carpet area of up to 90 square metre (968.75 square feet). Those with annual income between Rs 12 lakh and 18 lakh will get an interest subsidy of three per cent or a maximum of Rs 2.3 lakh for a house with a carpet area of 110 square metre (1,184 square feet) or less.In metros like Mumbai and Delhi, a flat costing 1,184 carpet area .
 "Interest subsidy scheme makes more sense for smaller towns")
