State Bank of India, the coutry's largest lending agency, has come up with a new scheme that is expected to give a much needed fillip to real estate sector and increase sales of homes. The interest subvention scheme, as it is known, envisages a special arrangement between SBI and the builder offering under-construction homes for sale.
The SBI Scheme has a provision wherein the rate of interest for the home loan taken by the buyer would be paid by the builder until the construction is complete. The buyers would have to pay the interest on their EMI only after they get full possession of the home.
Ambuja Realty, Eden City and Calcutta Riverside are already offering homes under this scheme and several more are expected to follow suit. | 
