UP Govt makes affordable housing more affordable

LUCKNOW: UP Housing and Development Board has slashed its rate of interest for those buyers who make staggered payment to it. Accordingly, the interest rate on houses costing up to Rs 25 lakh has been cut by about 1 percentage point to make the offer at par with most government banks providing home loans.

Now, for houses worth up to Rs 10 lakh, the interest rate has been slashed from 10.3% to 9.3% and for the ones in the range of Rs 10 lakh-25 lakh, the new interest rate would be 10.3% in place of 11.3%.

More than 20,000 house buyers in the city will benefit from the move. Additional housing commissioner, Rudra Pratap Singh said, “The decision is to help those people get loan conveniently and at affordable rates who were hesitant to go the banks because of their complicated procedures.”

Credits ET Realty

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