New Delhi: HUDCO (Housing and Urban Development Organization), a public sector company that specializes in building houses within the affordable range has come up with a new scheme that will immensely help those who had lost hope of owning a house in this market where house prices are spiraling rapidly.The scheme is a “rent-to-own” basis. In this scheme, HUDCO which comes under the Ministry of Housing and Urban Poverty Alleviation, will be funding to build houses in major towns and cities. These houses will be allotted mostly to the needy at affordable prices. The allottee will have to pay debt for 20 to 25 years. This rent will be considered as EMI and after the time period of rent payment is over the ownership of the house will be transferred to the allottee.Initially HUDCO will be associating with the state government to carry out the project. While the state government will be providing the land for the project and HUDCO will be funding 90% of the total finance to the local bodies or the construction of the houses. Value of the houses will be affixed jointly by HUDCO and the state government. The houses will be only allotted to lower income government employees such as bus conductor, drivers, police constables etc. Rent will be deducted directly from their salary and will be converted to EMI.The pilot project for the scheme will be taken up in Mohali near Chandigarh. The local municipal corporation in Mohali will be implementing the model. If it proves to be a success in Mohali the model will also be implemented in the other metros.займ на карту без отказов круглосуточновзять кредит онлайн