KARNATAKA MINORITIES DEVELOPMENT CORPORATION LIMITED (A Government of Karnataka Undertaking)
Site Purchase and Interest Subsidy on Housing Loan Scheme

During the year 2013-14 in the budget placed in july 2013 the Chief Minister of Karnataka has announced in the speech that a scheme of site purchase and interest subsidy on housing loan will be introduced. A separate allocation in the budget has been made for the implimentation of the Scheme.

Under this Scheme such of the minority community who has taken loan for the purpose of construction of House, from the Banks/Financial Institutions an interest subsidy upto Rs.1,00,000/- will be reimbursed. Also those of the minority community who are economical poor and desirous of obtaining loan to purchase a site, a loan upto Rs.5,00,000/- will be given.