Since ,we already have thread’s for 3 housing finance companies in our forum Canfin/Gruh/Repco. I think it will be good to have a thread for discussing the housing finance sectoral developments.
So, here i start with the news of NHB getting a $100 Million loan for a period of 25 years.
Few important points from the article
The World bank has granted a $100 million concessional loan to National Housing Bank (NHB), the state-run financier of home mortgage firms, for a period of 25 years to fund housing programmes for low-income families.
aThe World Bank programme will support the NHB in refinancing mortgage loans for people in the lower-income segments, who need long-term mortgages at affordable rates. **This borrowing will be guaranteed by the Government of India,**a
aThis is the first ever line of credit being availed by NHB from the World Bank. The programme is** designed to create significant social and developmental impact in the housing sector**, consistent with the objective and charter of the NHB,a NHB said in a statement.
aThe programme has been designed after a **detailed study on the profile of the low income housing status in the country with special regard to the aspirational drive among vast population in this segment and with due recognition of the informal nature of their income.**a
Sounds, like a positive development for all 3 of our companies. More so for Gruh & Repco given their business model.