If you earn up to Rs. 6 lakh per annum, buying your first house will cost about Rs. 2.67 lakh less as the government will subsidise a part of your home loan interest.
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Additional tax benefit for first-time home buyers from April 1
First time home buyers from tomorrow will get additional tax benefit for purchase of residential properties of value up to Rs. 50 lakh.
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Home loans Should you go for the cheapest interest rate
Owning a home is one of the key achievements in an individual’s life. Till about a decade or two back, it took a lifetime to own a house, unless one was really lucky. But after 1991, acquiring a home has become easier. Home loans offered by banks and housing finance companies (HFC) are a boon for investors. The Reserve Bank of India (RBI) regulates the banks and National Housing Board (NHB) regulates the HFCs. As a home loan user, multiple home loan providers may have offered you the lowest rates. We all love the lowest home loan rates, but are the rates really the lowest? Let us try to de-mystify the workings of the home loan structure.
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