1% Subsidy on home loan may get nod

In a move to boost the affordable housing sector and support middle income groups . the union cabinet on Thursday is expected to apporave a proposal for 1% interest subcidy on housing loans upto Rs 10 lakh . at a time when low cost is the buzzord in the real estate sector the scheme envisages providing 1%subsidy on homes loans upto Rs 10 lakh on houses costing not more than Rs 20 lakh .