RBI revises housing loan limits under PSL eligibility to Rs 35 lakh

MUMBA: Reserve Bank of India (RBI) has decided to revise the housing loan limits for the Priority Sector Lending (PSL) eligibility from existing Rs 28 lakh to Rs 35 lakh in metropolitan centres (with population of ten lakh and above), and from existing Rs 20 lakh to Rs 25 lakh in other centres.
However the overall cost of the dwelling unit in the metropolitan centre and at other centres does not exceed Rs 45 lakh and Rs 30 lakh, respectively.
A circular in this regard shall be issued by June 30, 2018, RBI said. The move is aimed at bringing greater convergence of the Priority Sector Lending guidelines for housing loans with the Affordable Housing Scheme, and to give a fillip to the low-cost housing for the Economically Weaker Sections and Lower Income Groups. (AGENCIES)