Interest subsidy scheme on home loans for urban poor to be launched this month

Everyone dreams of having their own home. But in a country like India, where the population has been constantly rising and people are forced to live in cramped places, it becomes quite difficult to own a house of their own. Many who migrate from smaller towns to metropolitan cities face the major problem of buying their own house. Most of these people live in rented places.

Now, the government of India is going to introduce a new scheme that will help urban middle-class people who live in rented accommodations but have aspirations of owning a home. It has been reported that the new scheme will soon start in the month of September.

Union Housing and Urban Affairs Minister Hardeep Singh Puri gave an update regarding the scheme in a press conference. He said that it will be introduced in the month of September that will offer relief in interest rates on home loans to people who are dreaming of buying their own houses in the cities.