DCHFC reduces home loan rate

After slashing circle rates to boost realty sector in the Capital, Delhi Government has directed the Delhi Cooperative Housing Finance Corporation (DCHFC) to reduce its home loan interest rate from 7.45 per cent to 6.75 per cent.

“CM Arvind Kejriwal has taken a historic decision to reduce the circle rates of residential, commercial and industrial properties by 20 per cent… Following the CM’s decision, I directed DCHFC to reduce the interest rates as compared to private banks so that the common man can avail loans at cheaper rates to buy a house,” Delhi Cooperative Minister Rajendra Pal Gautam said.

Rajesh Goyal, Chairman of DCHFC, said, the new rate would be “much lower than those offered by private banks. This will provide relief to Delhiites in instalments every month”. With the saved money, borrowers will be able to fulfil other needs of their families, he added.

The corporation has been disbursing housing loans since 1982-83 to societies and individuals. It has so far disbursed over Rs 600 crore and currently has 3,000 loaners.