 "Housing finance stocks in focus")
Shares of housing finance companies were in focus and trading higher in the range of 2%-4% on the bourses after the Cabinet on Wednesday cleared Housing for All by 2022 — a scheme with an interest subvention of 6.5% on housing loans to the economically weaker section (EWS).
At 1002 hours, LIC Housing Finance (4.4% at Rs 433), GIC Housing Finance (up 4% at Rs 218), Dewan Housing Finance (3.9% at Rs 430), Gruh Finance (3.4% at Rs 241), Indiabulls Housing Finance (2.7% at Rs 598), Can Fin Homes (2% at Rs 714) were up 2%-4% on the BSE. Housing Development Finance Corporation (HDFC) was up 1% at Rs 1,212.
“Under the credit-linked interest subsidy component, interest subsidy of 6.5% on housing loans availed up to a tenure of 15 years will be provided to economic weaker sections/lower income group (EWS/LIG) categories, wherein the subsidy pay-out on net present value (NPV) basis would be about Rs 2.3 lakh per house for both categories,” said an official statement. CLICK HERE TO READ FULL REPORT
At 1002 hours, LIC Housing Finance (4.4% at Rs 433), GIC Housing Finance (up 4% at Rs 218), Dewan Housing Finance (3.9% at Rs 430), Gruh Finance (3.4% at Rs 241), Indiabulls Housing Finance (2.7% at Rs 598), Can Fin Homes (2% at Rs 714) were up 2%-4% on the BSE. Housing Development Finance Corporation (HDFC) was up 1% at Rs 1,212.
“Under the credit-linked interest subsidy component, interest subsidy of 6.5% on housing loans availed up to a tenure of 15 years will be provided to economic weaker sections/lower income group (EWS/LIG) categories, wherein the subsidy pay-out on net present value (NPV) basis would be about Rs 2.3 lakh per house for both categories,” said an official statement. CLICK HERE TO READ FULL REPORT