(a) Whether the Union Government propose to increase the tenure of payment of housing loans to 25 years from the present 12 to 15 years;
(b) if so, the details in this regard;
(c) whether the rate of interest charged by the Government on housing loans would also be reduced to boost housing activities; and
(d) if so, the details in this regard?
MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI BALASAHEB VIKHE PATIL)
(a) to (d): Housing Finance is channeled to individuals through 29 Housing Finance
Institutions (HFIs) regulated by National Housing Bank (NHB). The various HFIs
are free to decide their own lending rates and other terms of financing of such
loans keeping in view their cost of borrowings, demand for funds and other market
related factors and do not need Government`s permission to enhance or reduce
these rates.