By Accommodation Times News Services
Government is firmed on its ambitious mission ‘Housing for All by 2022’ and is implementing effective measures for to accomplish the mission. Government is pushing government entities to facilitate people and ease the means and ways for them to buy home.
Recently, Reserve Bank of India (RBI) reduced its lending rates and urged housing finance companied and banks to pass on the benefits to home buyers. Many banks have reduced their base rates and are providing the benefit to the people.
Also RBI allowed banks to give home loans up to 90 per cent of the value of the property that cost below Rs 30 lakh. Earlier, the facility was available only in cases where the cost was up to Rs 20 lakh.
This will benefit those who plan to purchase properties in the range of Rs 20-30 lakh.
Now National Housing Bank (NHB) has granted permission to six new entities to become housing finance companies. These six companies are Supreme Housing Finance, Nivara Home Finance, Khush Housing Finance Private, Bajaj Housing Finance Capri, Global Housing Finance Pvt Ltd and Hinduja Housing Finance Ltd.
With an aim to cater the home loans to the needy section of the society NHB has issued licence to more banks
“With, this new banks the total number of HFCs registered with NHB is 72. New HFCs aim to focus mainly on the affordable housing finance segment and are likely to cater the housing loan needs of the EWS/LIG segment, contributing to achieving the goal of housing for all by 2022,” it said.