It has been reported that home loans may went cheaper for the underprivileged section. Too curb with the problem of the home loan burden the govt. is introducing new interest subvention scheme. In this scheme govt. will be providing an interest subvention of 5% to the customers on the loan up to Rs 5 lakhs. Govt. is planning to make the housing cheaper and affordable to all. The final plan of the scheme is yet to come.
To make housing possible for all the sections of the society the govt. is launching this scheme. Generally most of the burden falls on public sector banks. This will help to enhance the real estate and retail growth sector.