Re­duc­tion on home loan rates can be seen in near fu­ture

Accommodation Times - - Housing Finance -

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

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