The Centre proposes to give one per cent subsidy on home loans upto 15 lakh rupees provided the cost of houses is under 25 lakh rupees. In a written reply in the Lok Sabha today, the Minister of State for Finance, Mr. Namo Narain Meena said that the scheme is in operation till the 31st of March next year.

It will benefit all those who have availed housing loans in the current financial year. The National Housing Bank is the Nodal Agency for the scheme.