The Hindu 28.06.2010
HMDA auction: loan offer for buyers
Staff Reporter
| HUDCO agrees to provide loan at 8 per cent interest |
ICICI comes forward with attractive interest rate for those buying the plots and houses
The present auction of left over properties is spread across the city
HYDERABAD: The financially embattled Hyderabad Metropolitan Development Authority (HMDA), which has put its plots for auction in different locations in and around the city has some good tidings with financial institutions coming forward to offer loans for prospective buyers at concessional rates.
The Housing and Urban Development Corporation (HUDCO) which has agreed to extend an assistance of Rs.700 crore to the HMDA on favourable terms that include long repayment schedule and lesser interest rates, has agreed to provide loans to buyers of its plots and houses at eight per cent interest.
This agreement of subsidised interest rate for HMDA plots and houses in the present auction lot was reached following discussions between the HUDCO representatives and Metropolitan Commissioner, B.P. Acharya earlier this week.
Similarly, the ICICI has also came forward with attractive interest rate for those going for the plots and houses put for sale through e-bidding and the offer stands at 8.25 per cent.
The present auction of left over properties is spread across different parts and include 102 at Miyapur, 98 at Nallagandla, 20 at Ramachandrapuram, five at Mushk Mahal Residential Complex, two at Tellapur and one each at Asifnagar and Nandagiri Hills. Except for Nandagiri Hills, most of the properties come with a reserved price /offset price of Rs.10,000 per square yard.
