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20
June 2018
 |
RBI
(The Total Investment & Insurance Solutions)
The Reserve Bank of India (RBI) on Tuesday enhanced the housing loan limits under priority sector lending (PSL) to Rs 35 lakh in metropolitan centres under the affordable housing scheme. The Total Investment & Insurance Solutions
The
RBI in its Second Bi-Monthly Monetary Policy Statement 2018-19 had decide to
enhance the limit for eligibility for PSL under the scheme.
"With a view to bringing convergence of
the Priority Sector Lending guidelines for housing loans with the Affordable
Housing Scheme, and to give a filip to low-cost housing for the economically
weaker sections and low income groups...," the RBI said in a notification. The Total Investment & Insurance
Solutions
"... the housing loan limits for
eligibility under priority sector lending will be revised to Rs 35 lakh in
metropolitan centres (with population of ten lakh and above), and Rs 25 lakh in
other centres, provided the overall cost of the dwelling unit in the
metropolitan centre and at other centres does not exceed Rs 45 lakh and Rs 30
lakh, respectively." The Total
Investment & Insurance Solutions
Furthermore,
the RBI said that existing family income limit of Rs 2 lakh per annum, for
loans to housing projects exclusively for the purpose of construction of houses
for EWS and LIG, has been revised to Rs 3 lakh per annum for EWS and Rs 6 lakh
per annum for LIG, in alignment with the income criteria specified under the
Pradhan Mantri Awas Yojana.
In
addition, loans to individuals up to Rs 28 lakh in metropolitan centres and Rs
20 lakh in other centres, will be eligible to be classified under priority
sector, "provided that the cost of dwelling unit does not exceed Rs 35
lakh and Rs 25 lakh, respectively".The
Total Investment & Insurance Solutions
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