Schemes and programs of National Housing Bank.

National Housing Bank (NHB)

Main   programs   and schemes.

Scheme of 1% subsidy of interest on housing loans up to Rs.  fifteen lakhs

The Minister of Finance had announced a 1% Interest Loan Plan for Housing Loans up to Rs.   10   lakhs   .   In accordance with the announcement mentioned above, the Government of India approved a Housing Loan Interest Plan Grant up to Rs.   10   lakhs   , provided that the cost of the unit does not exceed Rs.   twenty   lakhs   .   Since fiscal year 2011-12, the subsidy scheme of 1% interest is available for housing loans of up to Rs.   fifteen   thousand   rupees, as long as the cost of the unit does not exceed Rs.   25   lakhs   .   The Plan is implemented throughout the country and is running for a period of 1 year from 1 October 2009 to 30 September 2010. The interest subsidy of 1% applies during the first 12 months of eligible loans sanctioned and disbursed during the currency of the scheme.   This scheme has been extended twice, that is, for fiscal year 2011-12 and fiscal year 2012-13, respectively.

The Plan is implemented through the Programmed Commercial Banks (SCB) and the Housing Financing Companies (HFC) registered in the National Housing Bank (NHB).   The Reserve Bank of India (RBI) and the NHB are Nodal Agencies for the Scheme for SCB and HFC, respectively.   Since fiscal year 2011-12, the Ministry of Finance of the Government of India has designated the National Housing Bank (NHB) as the Common Node Agency for Scheduled Commercial Banks (SCB) and Housing Finance Companies (HFC) ) for the implementation and disbursement of the subsidy under the Scheme.  Previously, the Reserve Bank of India (RBI) and the NHB were the Nodal Agencies, for SCB and HFC, respectively.   The Government had allocated a sum of Rs.   300million   of   rupees   for the implementation of the Plan during the financial year 2011-12.   The total budget allocated under the Plan for the fiscal year 2011-12 has been used.   The Department of Financial Services (DFS) has framed the guidelines for the implementation of the Scheme.

National Housing Bank (NHB)

Rural Housing Fund (RHF)

The National Urban Housing and Habitat Policy 2007, published by the Government of India in December 2007, mandates a multiple strategy to achieve the national goal of "Affordable Housing for All".   In particular, rural housing is an unattended segment with only about 10% of the financing of the housing of the banks that flows into rural housing.   The Golden Jubilee rural housing refinancing plan introduced by the National Housing Bank in 1997 has been successful to some extent and should be complemented.   An announcement was made in the Union Budget, 2011-12, to provide an amount of Rs.   3000   millions   of   rupees   for rural housing.   The   Honorable   Union Finance Minister stated that "financial inclusion can be carried forward by broadening the scope of NABARD, SIDBI and NHB.  Therefore, to increase the resource base of these three banks, I propose to take advantage of the resources of the commercial banks programmed to the extent that they do not fulfill their obligation to lend to the priority sector.   Consequently, it is proposed to create the following funds: a fund of Rs.1200   millions   of   rupees   in NHB to improve its refinancing operations in the rural housing sector. "In the year 2011-12, the disbursement was made from 01.07.12 to 07.06.12 under the scheme was Rs 2732.41   Rs.   .

The interest rate charged to the PLIs will remain fixed during the entire stay of the refinancing assistance.   Currently, the refinancing is being extended to a concessional rate of 6% -7% (which varies according to the size of the loan), fixed for a period of seven years.

REFINANCING THE FINANCING OF THE CONSTRUCTION FOR AN AFFORDABLE HOUSING

NHB introduced a new refinancing scheme for the financing of construction for affordable housing.   The NHB under the scheme is extending support to housing activities with a special focus on Tier II and Tier III cities through several intermediaries through refinancing.   The redevelopment of slums in metropolitan areas is also covered by the plan, as well as housing for industrial workers, shelters for working women and nursing homes, housing projects financed by the JNNURM or any similar scheme of the Central Government / State Government as homes affected by natural disasters.   The Plan incorporates certain key restrictions on unit cost, unit area, land price, etc., to ensure that refinancing is not used for higher income housing.

National Housing Bank (NHB)

The National Housing Bank (NHB) was created by an Act of Parliament in 1987. The NHB is a financial institution for housing.   It started operations on July 9, 1988. The NHB was established with the objective of operating as the main agency to promote   institutions of   housing financing   both locally and regionally, and provide financial and other incidental support to these institutions and related matters.

NHB registers, regulates and supervises Housing Finance Company (HFC), maintains surveillance through on-site and off - site mechanisms and coordinates with other regulators.

ENERGY EFFICIENT HOUSING SCHEME (EEHS)

NHB has formulated a Scheme called Energy Efficient Housing Plan (EEHS), 2011, to grant loans to energy-efficient homes / buildings.   The objective of the Plan is to provide refinancing assistance to the Housing Financing Companies (HFCs) with respect to their direct loans up to Rs.50   lakhs   to individuals for the purchase / construction of new energy efficiency housing units in urban areas.   While the general policy framework, the eligibility of the HFCs to refinance, the operating procedures are the same as for the other refinancing Schemes, there are certain changes in the terms and conditions and the eligibility of the final borrower.   This independent brochure containing all the necessary information is provided as in   This scheme was launched in the fiscal year 2011-12.   The disbursement made under the scheme (from 01.07.11 to   07.06.12)   it was Rs 81.36   crore   .

HFCs are expected to use this Refinancing Assistance and help these people have an energy efficient shelter for them by granting them home loans based on need.   HFCs are also encouraged to take advantage of the refinancing of NHB under their other scheme to allow EEHS '' leverage 'to achieve the main objective of increasing the stock of housing in urban areas.

The refinancing of NHB will be available to the extent of 100 percent of the housing loans sanctioned and disbursed by the HFCs for the acquisition / construction of new housing units, in accordance with the provisions of the Plan.   The refinancing assistance under this dispensation will remain valid   until the   December 30, 2013 or until the moment the NHB decides.