Tata Cap­i­tal Ltd’s launches new scheme for semi ru­ral ar­eas

Accommodation Times - - Accomodation Times - By Staff Re­porter

Tata Cap­i­tal Ltd's hous­ing fi­nance sub­sidiary, Tata Cap­i­tal Hous­ing Fi­nance Ltd (TCHFL), launched a new scheme to pro­mote af­ford­able hous­ing amongst semi- ru­ral ar­eas and for ur­ban poor seg­ment. The scheme will pro­vide loans for af­ford­able hous­ing in ar­eas like Tier II and Tier III ci­ties, semi-ru­ral ar­eas and cer­tain ur­ban ar­eas. It has set-up a ded­i­cated ver­ti­cal with reach across 50 lo­ca­tions to cater to the spe­cialised hous­ing fi­nanc­ing needs of the seg­ment. “With the launch of this spe­cial scheme, prop­er­ties fall­ing un­der the clas­si­fi­ca­tion of ru­ral hous­ing as per the Na­tional Hous­ing Bank guide­lines will be of­fered home loans of up to Rs. 15 lakh at a spe­cial in­ter­est rate of 9.75 per cent per an­num, till the 31st of Oc­to­ber, 2014. Another key sub-seg­ment com­prises the ‘ur­ban poor’ - which cov­ers low­in­come hous­ing in ur­ban ar­eas for ur­ban low-in­come groups seek­ing hous­ing loans up to Rs. 10 lakh,” the company said in a state­ment. R Vaithi­anathan, Man­ag­ing Di­rec­tor, Tata Cap­i­tal Hous­ing Fi­nance, said, “One of the ar­eas of fo­cus for Tata Cap­i­tal Hous­ing Fi­nance Limited is af­ford­able hous­ing fi­nance across the ur­ban poor, smaller ci­ties and semiru­ral ar­eas. There is a grow­ing de­mand com­ing from this seg­ment and the ful­fill­ment of this de­mand will go a long way to­wards fi­nan­cial in­clu­sion. This seg­ment is also a high em­pha­sis area for Na­tional Hous­ing Bank (NHB) and NHB is pos­i­tively sup­port­ing hous­ing fi­nance com­pa­nies in this space.”

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