Home loan interest. (File for representation)
The scheme to provide relief in interest on bank loans for those dreaming of their own house in cities will be launched in September
In his Independence Day Speech 2023, Prime Minister Narendra Modi announced that the government will provide cheaper home loans to those living in rented houses in cities through a new scheme. The scheme, according to a PTI report quoting an official of the housing ministry, will be launched in September 2023.
Addressing a press conference, Minister Hardeep Singh Puri said the modalities of the scheme are being worked out.
“The scheme to provide relief in interest on bank loans for those looking to own houses in cities will be launched in September,” Union Housing and Urban Affairs Ministry Secretary Manoj Joshi said.
During his Independence Day speech, Prime Minister Narendra Modi announced the scheme for middle-class families who live in cities but do not own a house.
“Middle-class families are dreaming of their own house in cities. We will soon launch a scheme for them.
“We have decided to give relief in bank loan interest by providing a help of lakhs of rupees to families living in rented houses, unauthorised colonies and shanties in cities, to build their own house,” Modi had said from the ramparts of the Red Fort.
(With Inputs From PTI)
