Golden Jubliee Rural Housing Scheme

The salient features of the scheme are outlined below

Objective
The objective of the scheme is to address the problems of Rural Housing through improved access of housing credit which would enable an individual to build a modest new house or improve or add to his existing dwelling unit in rural area.

Operational Area
Rural area for the purpose of the scheme is the area comprised in any village including the area comprised in any town, the population of which does not exceed 50,000 as per 1991 census.

Quantum of Loan

  • Up to Rs. 5.00 lakhs for construction of new dwelling unit.
  • Up to Rs.50,000/- for up-gradation / major repairs.

Period of Repayment
The loan is to be repaid within a maximum period of 15 years in suitable instalments.

Instalment to Income Ratio
Normally up to 35% of the gross income can be taken as repaying capacity of the borrower.

Security
Mortgage of the property or any appropriate security.

Rate of Interest
As applicable to housing loan.

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