Loan for Low Cost Houses
Reserve Bank of India vide circular DBR.BP.BC.No. 74/08.12.015/2014-15 dated March 5, 2015 on “Housing Loans: Review of Instructions” has allowed banks to add stamp duty, registration and other documentation charges to the cost of the house/dwelling unit for the purpose of calculating Loan to Value (LTV) ratio, in cases where the cost of the house/dwelling unit does not exceed Rs. 10 lakh. This has been done with a view to encourage availability of affordable housing to borrowers from economically.
This was stated by Shri Jayant Sinha, Minister of State in Ministry of Finance in written reply to a question in the Lok Sabha today.
Related to Your Search:
- Central Government: Employees: Interest Subvention of 1% on housing loans
- Foreclosure charges / Pre-payment penalties on Housing Loan
- PNB makes home, auto loans attractive for government staff
- Income Tax Exemption Calculation for Interest paid on Housing Loan
- 7th Pay Commission: PNB joins SBI to woo Central government staff with cheaper loans
- Stop charging prepayment penalty on home loans: RBI to banks
- Display CGEWHO’S Housing Scheme in all Central Ministry’s web site through NIC
- Additional Deduction of Interest upto Rs.1 Lakh on Home Loan for First Home Buyer
- New Income Tax Rates And Deductions Applicable From April 1, 2017