BHOPAL: Bhopal Development Authority (BDA) has tied up with LIC Housing Finance for the elderly people, who are 60 years of age or above to facilitate purchase of property. This will help elderly people own a house in advance age, a BDA spokesperson said.
At a BDA board of director meeting, held on Monday, it was decided to extend the facility to elderly persons. The LIC HFL Care Homes has already made this facility available in Chandigarh and Bangalore, spokesperson of the agency Vibha Sharma said.
The board of directors meeting attended by BDA chairman Om Yadav and its CEO Neeraj Vashishtha decided to address the issue of the crying need of housing for senior citizens of the city, she said, adding the facility will be available for construction of houses at the Aero city scheme.
“There will be a tri-partite agreement with the BDA, LICHFL and elderly will three parties and the collector guideline rates will be applicable,” she said. The finance would be made available both for purchase of land and construction of house.
The government developmental agency in its board meeting relaxed norms for defaulters who, after booking a property, failed to deposit bank instalments in time and their bookings are cancelled.
“The board decided to revive ownership after a beneficiary pays a penalty of Rs 10,000 and start paying again instalments,” she said.
The BDA received 21 more bookings during January. Every month, online sale of the agency’s property is open for first 20 days. “It started from October this year and every month since, the response has been good for BDA properties,” spokesperson said.
Credits ET Realty