myiW Current Conditions and Forecasts Community Forums Buy and Sell Services
 
Hi guest · myAccount · Log in
 SearchSearch   ProfileProfile   Log in to check your private messagesLog in to check your private messages   RegisterRegister 
The availability of housing finance in Cochin

 
Post new topic   Reply to topic    iWindsurf Community Forum Index -> Politics, Off-Topic, Opinions
View previous topic :: View next topic  
Author Message
Parker41



Joined: 03 Sep 2011
Posts: 1

PostPosted: Sat Sep 03, 2011 2:13 am    Post subject: The availability of housing finance in Cochin Reply with quote

The availability of credit for purchase of houses also brought ownership housing within affordable range of a major section of the population. The institutional sources of finance for housing in Cochin are the LIC (Life Insurance Corporation), GIC (Group Insurance Corporation), HUDCO (Housing and Urban Development Corporation) and HDFC (Housing and Development Finance Corporation).

Other sources of finance are through the Employees Provident Fund and housing advances provided by employees including those working with the Government of India, the Municipal Corporation of Cochin, and the state government. Of these agencies, the Housing and Urban Development Corporation (HUDCO), Life Insurance Corporation (LIC) General Insurance Corporation (GIC) and commercial banks do not give loans directly to individuals (except to their own employees under various House Advance Schemes) but route them through some organizations like HUDCO, Cooperative Housing Societies or other public/private sector organizations.

People belonging to the Low Income Group (LIG) are given direct home loans to cover certain expenses. Direct home loans to individuals are provided through the Employee Provident Fund, the Housing Development Finance Corporation and the Cooperative Housing Finance Scheme. These loans are limited to workers in the organized sector. Private sector builders and land developers have also started providing some housing finance to their own clients up to around 20 – 25 percent of the cost of house. The Cochin Urban Development Authority now provides housing on hire purchase basis to low and middle-income groups. Thus Real Estate in Cochin is likely to witness major changes in the future.
Back to top
View user's profile Send private message
isobars



Joined: 12 Dec 1999
Posts: 20935

PostPosted: Sat Sep 03, 2011 7:49 am    Post subject: Reply with quote

F-ing spammer!
Back to top
View user's profile Send private message
Display posts from previous:   
Post new topic   Reply to topic    iWindsurf Community Forum Index -> Politics, Off-Topic, Opinions All times are GMT - 5 Hours
Page 1 of 1

 
Jump to:  
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum
You cannot attach files in this forum
You cannot download files in this forum

myiW | Weather | Community | Membership | Support | Log in
like us on facebook
© Copyright 1999-2007 WeatherFlow, Inc Contact Us Ad Marketplace

Powered by phpBB © 2001, 2005 phpBB Group