Affordable Housing Loan Limits from RBI

Jul 25, 2018

The Reserve Bank has altered Priority Sector Lending (PSL) eligibility and classification norms. The crucial decision was announced in the second bi-monthly policy statement on June 6. But what does that translate into for a home buyer? Let’s have a closer look.

Revised PSL eligibility: Revision in housing loan limits for PSL eligibility is to give a boost to affordable housing sector and help in economic growth.
For metropolitan citizens: The housing loan limits for eligibility under PSL will be revised to Rs 35 lakh in metropolitan centres from the previous Rs 28 lakh. It is applicable for centres with a population of over 10 lakh and for properties where the overall cost of the dwelling unit does not exceed Rs 45 lakh.
For other citizens: The housing loan limits for eligibility under PSL will be revised to Rs 25 lakh from the previous Rs 20 lakh, provided the overall cost of the dwelling unit in the centre does not exceed Rs 30 lakh.

Higher family income limits: The existing limit for family income of Rs 2 lakh per annum for loans to housing projects for economically weaker sections is revised to Rs. 3 lakh per annum. For low-income groups, it is revised to Rs 6 lakh per annum. The welcome move is in alignment with the income criteria specified under the Pradhan Mantri Awas Yojana.

This is a big boost for first-time home buyers in metros who are looking to buy properties in the affordable segment. Add to it the subsidy benefits of Rs 2.68 lakh from the central government under schemes like Pradhan Mantri Awas Yojana. Now, owning a house in the metros will soon become a reality for many.



MENU

Close

Leave your phone number below.
We’ll call you back.

Submit

Please enter a valid phone number.

We’re facing an issue in catering to your
request. Please try again after some time.

Cheers

We’ve successfully registered your phone number,
and will get back to you soon.

OK

Contact Guest Manager

Please enter a valid name.

(+91) 

Please enter a valid phone number.

Please select a project you’re interested in.

Parkwest - Bengaluru

SP Residency - Pune

Vicinia - Mumbai

Codename Mumbai Dreams - Mumbai

SP Infocity - Manesar

SP Infocity - Pune

SP Infocity - Nagpur

SP Infocity - Mohali

JoyVille Howrah

JoyVille Hingewadi

JoyVille Virar

JoyVille Gurgaon

The Designate - Mumbai

Northern Lights - Thane

Comments

Cancel

Done

Sorry!

We’re facing an issue in catering to your request. Please try again after some time.

OK

You've already registered!

We have your details. Stay tuned, we will get in touch with you shortly.

OK

Thank you for
reaching out

We’ve successfully registered
your details, and will get back to
you soon.

OK

Please enter a valid name.

(+91) 

Please enter a valid phone number.

Cancel

Done

Sorry!

We’re facing an issue in catering to your request. Please try again after some time.

OK

You've already registered!

We have your details. Stay tuned, we will get in touch with you shortly.

OK

Thank you for
reaching out

We’ve successfully registered
your details, and will get back to
you soon.

OK

Affordable Housing Loan Limits from RBI

Jul 25, 2018

The Reserve Bank has altered Priority Sector Lending (PSL) eligibility and classification norms. The crucial decision was announced in the second bi-monthly policy statement on June 6. But what does that translate into for a home buyer? Let’s have a closer look.

Revised PSL eligibility: Revision in housing loan limits for PSL eligibility is to give a boost to affordable housing sector and help in economic growth.
For metropolitan citizens: The housing loan limits for eligibility under PSL will be revised to Rs 35 lakh in metropolitan centres from the previous Rs 28 lakh. It is applicable for centres with a population of over 10 lakh and for properties where the overall cost of the dwelling unit does not exceed Rs 45 lakh.
For other citizens: The housing loan limits for eligibility under PSL will be revised to Rs 25 lakh from the previous Rs 20 lakh, provided the overall cost of the dwelling unit in the centre does not exceed Rs 30 lakh.

Higher family income limits: The existing limit for family income of Rs 2 lakh per annum for loans to housing projects for economically weaker sections is revised to Rs. 3 lakh per annum. For low-income groups, it is revised to Rs 6 lakh per annum. The welcome move is in alignment with the income criteria specified under the Pradhan Mantri Awas Yojana.

This is a big boost for first-time home buyers in metros who are looking to buy properties in the affordable segment. Add to it the subsidy benefits of Rs 2.68 lakh from the central government under schemes like Pradhan Mantri Awas Yojana. Now, owning a house in the metros will soon become a reality for many.



To request a copy of the brochure and floor plan, simply enter your email id below.

Please enter a valid email address.

We’re facing an issue in catering to your request.
Please try again after some time.

Submit

Cheers

We’ve successfully registered your email address and will be mailing you a copy soon.

OK

Close

Leave your
phone number below.
We’ll call you back.

Please enter a valid phone number.

We’re facing an issue in catering to your request.
Please try again after some time.

Submit

Cheers

We’ve successfully registered
your phone number, and will get
back to you soon.

OK

Close

Contact Guest
Manager

Please enter a valid name.

(+91) 

Please enter a valid phone number.

Please select a project you’re interested in.

Parkwest - Bengaluru

SP Residency - Pune

Vicinia - Mumbai

Codename Mumbai Dreams - Mumbai

SP Infocity - Manesar

SP Infocity - Pune

SP Infocity - Nagpur

SP Infocity - Mohali

JoyVille Howrah

JoyVille Hingewadi

JoyVille Virar

JoyVille Gurgaon

The Designate - Mumbai

Northern Lights - Thane

Comments

Cancel

Done

Sorry!

We’re facing an issue in catering to your request. Please try again after some time.

OK

You've already registered!

We have your details. Stay tuned, we will get in touch with you shortly.

OK

Thank you for
reaching out

We’ve successfully registered your details, and will get back to you soon.

OK

Please enter a valid name.

(+91) 

Please enter a valid phone number.

Cancel

Done

Sorry!

We’re facing an issue in catering to your request. Please try again after some time.

OK

You've already registered!

We have your details. Stay tuned, we will get in touch with you shortly.

OK

Thank you for
reaching out

We’ve successfully registered your details, and will get back to you soon.

OK