Cheap housing 2 billion tomans / How much is the repayment of the mortgage loan?
According to Tejarat News, members of the government have been waiting for months Housing Cheap for the first five deciles of society.
Officials say the unit prices will vary based on the area or number of floors, and the timing of the leap projects is 12, 18 and 24 months.
The ceiling of housing production leap loan is 450 million Tomans in Tehran and 400 million Tomans in metropolises with a population of over one million.
The amount of these facilities in the centers of the provinces is 350 million Tomans and in other cities is 300 million Tomans, the loan ceiling of the villages is set at 250 million Tomans.
The installments of this loan are 20 years (240 months) and its interest rate is 18% according to the decision of the Supreme Monetary Council. In fact, the applicant for national housing, who is subject to receiving a loan of 450 million Tomans, must pay a monthly loan installment of six million and 945 thousand Tomans.
The total interest that this person pays is one billion and 216 million tomans. Taking into account the loan amount, the total amount of money that people have to return to the bank is one billion and 666 million tomans.
In its second announcement about the housing leap plan, the government has announced that the initial income of each applicant is 40 million Tomans, which is 20 million Tomans for low-income deciles. But Hamshahri newspaper in its report today has estimated that in the new plan of the housing government, each applicant is between 150 to 250 million Tomans.
Taking into account 250 million Tomans for the residents of Tehran and a loan of 450 million Tomans (repayment of 1.6 billion Tomans), each unit of the housing leap project will cost about two billion Tomans. Of course, this cost is lower for cities.
The government claims that the target community of this project is the low-income deciles of the society, but with an average salary of 3.5 million Tomans for the families of the first five deciles, buying a house worth 2 billion Tomans is not justified.
Probably a factor as to why they’re doing so poorly. Less than 10 days remain until the end of the registration period, but by the end of last week, only 1.7 million people had registered, and 2.3 million of the capacity of this project is empty. The number of registrants is likely to reach two million by mid-December, which is half the capacity.
Assuming two million people are registered in the scheme, one should not expect the application of all registrants to be approved, as statistics usually fall in government housing schemes. For example in the design Housing Nationally, 1.6 million people registered, of which 460,000 were considered eligible, meaning that only 28% of applicants were eligible.
It is possible that the government will not be able to register the four million applicants, as it is both a difficult situation and it will be expensive to buy these houses.