Reduction on home loan rates can be seen in near future
Union Housing Minister Venkaih Naidu concerned over the high interest rates has assured people that he will intervene and bring down the interest rates for housing a little. That will be my priority. Taking charges as new Housing and Poverty Alleviation Minister and Urban Development Minister he told people about his priorities.
Naidu said that during previous National Democratic Alliance rule under Atal Bihari Vajpayee housing was top priority. "Then the interest rate was reduced from 11 percent to 7 percent," he said. "Today again the interest rate for housing has gone up to 10-11 percent."
" If you want to achieve housing for all by 2020, you need to have interest reduction, you need to have interest invention," he said.
Venkaih Naidu, Union Housing Minister