New Delhi, Jan 22 (TIWN) With a target in hand to achieve â??Housing for All by 2022, the Centre should consider providing full interest subvention on affordable loans for those who are purchasing their first home, said Rajan N. Bandelkar, President of National Real Estate Development Council (NAREDCO).

NAREDCO is an autonomous self-regulatory body under the aegis of the Union Ministry of Housing and Urban Affairs. 

“The government aims to provide housing for all Indians by 2022. In 2014, It was fair enough to say that by 2022 we will fulfil our goal… We are already in 2022 and there are still many people staying in rented premises. In the interest of consumers, we as developers feel the Centre should consider something on the interest subvention,” Bandelkar said in an exclusive interview with IANS.  In 2019, the Centre in its Budget, increased the maximum amount of interest paid on a housing loan — valued upto Rs 45 lakh — eligible for tax benefits to Rs 3.5 lakh from Rs 2 lakh under the affordable housing plan, initially for a year.  Again in the 2020 Budget, the same was extended for another fiscal year i.e. till March 2021.