The Delhi Co-operative Housing Finance Corporation has reduced the loan interest rate. After the interest rate is low, people will have to pay an installment of Rs 760 per month for Rs 1 lakh, whereas earlier they had to pay Rs 803.
Great news for home buyers. After reducing the circle rate of immovable properties, the Delhi government has now decided to reduce the interest rates of home loans. The Delhi Cooperative Housing Finance Corporation has reduced the loan interest rate. After the interest rate is low, people will have to pay an installment of Rs 760 per month for Rs 1 lakh, whereas earlier they had to pay Rs 803.
Massive Cut in Circle Rate – Delhi Cooperative Minister Rajendra Pal Gautam said that the Delhi government has taken a historic decision to reduce the circle rate of residential, commercial and industrial properties by 20 percent. With the reduction in circle rates, the general public of Delhi will be able to realize the dream of buying a house for their family.
He said, Delhi Co-operative Housing Finance Corporation had been instructed to reduce the interest rates as compared to private banks, so that the residents of Delhi can get loans at low rates to buy their house. After this, Delhi Co-operative Housing Finance Corporation Limited has decided to reduce the interest rates on the loan.
Reduced interest rate
Delhi Cooperative Housing Finance Corporation Limited Chairman Rajesh Goyal said that with the decision of the Delhi government, the interest rate for Delhiites to take a housing loan has been reduced from 7.45 per cent to 6.75 per cent.
These rates are much lower than private banks. This will also give relief to Delhiites in paying installments every month. While the relief in installments will reduce the pressure on the borrowers, on the other hand, with this savings, he will be able to gather other happiness for his family.
This will be saving
Goyal said that after the decision to reduce circle rates by 20 percent, more and more people will be encouraged to buy real estate and the stability in real estate will also be removed. This will reduce housing prices and such middle-class families who have been living in rented houses for years will be able to buy homes for themselves. After reducing the interest rate on the loan, the installment per month will be Rs 760 per one lakh rupees, whereas earlier it was Rs 803.
Delhi Cooperative Housing Finance Corporation is planning to announce a more attractive package of housing loan scheme for middle class and weaker sections soon.
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