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Urban development department favors low housing loans

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The alarming state of realty slow down has made deep impact on the economy of the country with varied associates from last couple of years. Source reported at www.propertykhazaana.com reveals that recently Jaipal Reddy – Union Urban Development Minister had a short meet with the financial head of the country – Pranab Mukherjee for the sole distressing condition of the realty market.
Here he suggested for low lending rates by the banks and other financial organizations, so that it encourages the home buyers and at least bring them near the realty counters. He points that the there should be reduction for the housing loan up to 6.5 percent in the bracket of Rs 5 lakhs, so that the mid income group can avail a house for their family. Along with this he also suggested to increase the housing loan tags from current Rs 20 lakhs to Rs 30 lakhs rating it with interest rate 7.5 percent, added the source on www.propertykhazana.com.
Mr. Reddy reveals that encouraging the realty segment is the key note for reducing the unemployment of the nation. The urban minister also cited some key features for commonwealth games with more funds to the national interest. On a short note with www.propertykhazana.com Jaipal reddy reveals that “we there will be more allocations for the Delhi Metro projects and for the common wealth and coming to the JNNURM projects which is one of the noted program till date by the present govt. and more states are on the pipeline for more venture under this system,” he added. For more and latest realty updates visit www.propertykhazana.com.
Source: NBTVLIVE

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