The New Indian Express 12.05.2013
May 6, 2025
The New Indian Express 12.05.2013
Housing and Urban Development Corporation Ltd (Hudco) effected a
significant reduction in its lending rates for government and public
sector borrowers for various housing and infrastructure development
projects. A reduction of 25 basis points has been effected in respect of
its entire housing portfolio covering economically weaker sections, low
income groups, middle income groups and all other categories of
housing. With this reduction, the EWS and LIG category housing projects
would get loans from Hudco at 8 per cent to 8.5 per cent. The reduction
also includes land acquisition for housing purposes.
The interest
rates have been reduced for core infrastructure projects also covering
water supply, sewerage, drainage, solid waste management, urban/city
roads and social infrastructure.
The rates fore core
infrastructure projects are around 10.25 per cent. Integrated township
development projects also quality for reduced rates. Significantly,
Hudco has so far supported taking up of over 1.5 crore housing units
in the country with over 94 per cent benefiting the economically weaker
section and low income groups. Hudco has also supported over 1700 urban
infrastructure projects throughout the country.
The lending rates
for individual borrowers was reduced to 9.95 per cent (floating) for
loan up to Rs 25 lakh and 10.15 per cent (floating) for loans above Rs
25 lakh. Further, a significant reduction was also effected for lending
bulk loans to government or public agencies for providing HBA to their
employees at 9.95 per cent (floating) and the bulk loan for HFCs
promoted by government banks, public agencies and government FIs at a
revised rate of 10 per cent (floating) The interest rates reduction
makes Hudco one of the organisations charging lowest and most
competitive lender in retail housing market. This would enable Hudco,
which is already financing one in every 15 houses in the country, to
enhance its outreach further.
