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Union Budget 2015: Government may hike home loan rebate to Rs 3.5 lakh

Union Budget 2015: Government may hike home loan rebate to Rs 3.5 lakh

Even rental housing scheme via state authorities, municipalities is on the cards, which will provide rental facilities to poor and migrant workers.

Mumbai: The upcoming Budget could bring some major relief for home buyers. Given the government's big promises of providing housing for all by 2022, sources say Budget 2015 could see a hike in the rebate offered on home loans, reports CNBC-TV18's Nayantara Rai.

According to sources, the government may hike home loan rebate to Rs 3-3.5 lakh from the current Rs 2 lakh. The Cabinet had given an in-principle nod to housing for all by 2022 scheme on February 19.

Moreover, in a bid to encourage PPP for low-cost housing scheme, a higher FSA can be introduced. The government may also push LIC to lend for low-cost housing.

Even rental housing scheme via state authorities, municipalities is on the cards, which will provide rental facilities to poor and migrant workers. This will include building dormitories, sources say.

The rental housing scheme may get funding via CSR. Even the housing ministry is seeking Rs 6,000 crore allocation from the Budget.

first published:February 24, 2015, 18:51 IST