Initiatives in housing finance
28 Feb 2002
The initiatives taken by the government in the housing finance area in the last four years have shown positive results. To further strengthen the housing finance sector, the following measures will be taken:
The NHB will launch a mortgage credit guarantee scheme, which will be provided to all housing loans thereby fully protecting lenders against default. This will make housing credit more affordable thereby also increasing access to housing credit in rural areas.
The target under the Golden Jubilee Rural Housing Finance Scheme is proposed to be increased to 2.25 lakh for 2002-03, up from 1.7 lakh in the current year.
The allocation of the Indira Awas Yojana is being increased by 13 per cent to Rs 1,725 crore for 2002-03.
The NHB will launch a mortgage credit guarantee scheme, which will be provided to all housing loans thereby fully protecting lenders against default. This will make housing credit more affordable thereby also increasing access to housing credit in rural areas.The target under the Golden Jubilee Rural Housing Finance Scheme is proposed to be increased to 2.25 lakh for 2002-03, up from 1.7 lakh in the current year.
The allocation of the Indira Awas Yojana is being increased by 13 per cent to Rs 1,725 crore for 2002-03.