Under the scheme persons are eligible to avail loan for purchase of house/flat, besides repairs/extension of existing houses.
Individuals and housing boards undertaking housing project/schemes are eligible to avail finance under the scheme. The persons should have permanent source of income, repayment capacity and should be prepared to contribute 20%-25% towards cost of flat/renovation/repairs/extension/Construction.
The amount of borrowing depends upon one's income. In case of married person the income of spouse is also clubbed to determine the loan amount.
The maximum quantum of loan to individual borrowers under the scheme is Rs 50.00 lacs for the purchase of house.
For repairs, additions, alterations maximum amount of loan for individual borrower will be Rs.1.00 lac in rural & semi urban areas and upto Rs.2.00 lacs in urban areas.