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Old 05-29-2014, 01:52 PM
Poonam Chauhan Poonam Chauhan is offline
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Default Home Loan Rates

New urban development and housing minister Venkaiah Naidu said his priority will be to ensure housing for all by 2020 and reduce interest rates on home loans.

Soon after taking charge of the two ministries on Wednesday, he said during the Atal Bihari Vajpayee government, interest rates were brought down from 11% to 7-7.5%. "Now it has gone beyond 10%. I will take up this issue with the finance minister. Housing is a priority area and it's my passion. We will intervene and bring down the interest rates for housing a little."

He said lowering of interest rates would help achieve the target of housing and it needs the government's intervention. Naidu said though it's a tough task to deliver on this expectation, but it's possible.

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