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Affordable Housing: What Is Interest Subvention?

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Affordable Housing: What Is Interest Subvention?
What is Interest Subvention?
The latest hot news maker after demonetisation seems to be the interest subvention. Simply stated, interest subvention is a subsidy provided on interest rates. This particular write up is about interest subvention on housing loan rates.
Affordable Housing- Explained in relation to Interest Subvention:
Affordable housing has a skewed definition. Depending on which tier the city falls into or based on rural and urban areas, the range of any affordable housing property that lies anywhere from Rs.30-70 Lac. Now keeping in mind the lower income groups or even the emerging middleclass, the above range is hardly affordable. The government has brought some clarity to it by announcing interest subvention on loans up to
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