Uttar Pradesh housing board has cut rate of interest on cheaper houses

Q: UP Housing and Development Board has cut its rate of interest for those buyers who make staggered payment to it.

Ravi Ji, Lucknow

13th April 2016

Real estate News in Lucknow

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interest rate cut by up government

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Replies (2)

I think this move will benefit more than 20000 homebuyers in the city. The decision has been taken to help those people get loan conveniently and at affordable rates who were doubtful to go to the banks because of their complicated procedures.

Veena K,

13th April 2016

Comment

Hi Ravi,
To make the offer at par with most government banks providing home loans, the interest rate on houses costing up to Rs 25 lakh has been cut by about 1%.

Gaurav, Lucknow

13th April 2016

Comment

Its a good sign for the Lucknow realty market. Now, for houses cost up to Rs 10 lakh, the interest rate has been slashed from 10.3% to 9.3% and for the ones in the range of Rs 10 lakh-25 lakh, the new interest rate would be 10.3% in place of 11.3%.

Vibhu, Lucknow

13th April 2016