Housing and Urban Development Corporation: Gives Individual Housing Loans..!

The government owned HUDCO (Housing and Urban Development Corporation) has again started offering individual housing loans at lending rates as low as 8.5%.

Mr. V. P Baligar, Chairman & Managing Director, HUDCO said “We have revived HUDCO ‘Niwas’. Earlier, we used to give individual housing loans. It was stopped around 2 years back. This year we have started providing loans to individuals. Interest rate is least in the country at 10%. If you belong to the EWS (economically weaker section) category, you get it for 8.5%”

V. P Baligar, CMD, HUDCO

Commenting on the earlier policy of lending Pan India, Mr. V . P. Baligar said, “There was difficulty in collecting cheques and other things. Unfortunately, earlier we used to lend anywhere in India, in any urban area or rural area... Monitoring was very difficult. Now, we limit our operations only to the state headquarters. Earlier we could even give Rs. 50 lakhs to 60 lakhs, any amount. Now we have limited it to only Rs. 25 lakh, because we want to concentrate on EWS, low income group & middle income group”

Mr. V . P. Baligar further told, ''The decision to focus on low price segment houses was taken because private banks were meeting the requirements in the higher price segments. HUDCO would be able to meet a substantial amount of demand for housing loans. We also have tie ups with banks & if there is more requirement, we can immediately borrow it & give it."

Contact: 

Housing and Urban Development Corporation Ltd.

HUDCO Bhawan, Core-7-A,

India Habitat Centre, Lodhi Road,

New Delhi - 110 003

Tel(EPABX) :011-24649610-23,

24627113-15,24627091,92,95

After Office Hours: 24648193-95

Fax:011-24625308

E-Mail: mail@hudco.org

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