The loan for the renovation of worn-out structures increased – Tejaratnews
According to Tejarat News, Maskan Bank announced an increase in loans for the renovation of worn-out urban structures.
This facility is paid to natural and legal persons in the areas and localities included in the urban regeneration plans and programs for the construction of residential units, taking into account the remaining cost of the project for the construction of each unit, 550 million Tomans.
The facility can be paid from three sources of government deposits, non-deposit bank sources and internal bank sources (preferred bonds).
Worn-out fabric facilities are paid from the government deposit source of 185 million tomans with a zero percent interest rate, non-deposit bank sources of 185 million tomans with a 23% interest rate, and from premium bonds 180 million tomans with a 21.5% rate.
Considering that currently the rate of each sheet of preemptive bonds is about 100 thousand tomans, the loan applicants must buy 360 sheets, which costs about 36 million tomans. In addition to the fact that the loan interest for renovation of worn-out fabric is 21.5%, which will probably affect the demand for this type of loan.
In total, the ceiling of granted facilities for the construction of a residential unit in the areas of worn out and inefficient urban fabric is set at 550 million Tomans.
The facilities are paid according to the progress of the project and at most in 4 stages, and the criteria for determining the physical progress of the project is only the evaluation report by the bank and based on the current rules and regulations.
The total period of civil participation and installment sales of the facilities of the agency contract plan (credit 1401) has been determined for a maximum of 7 years (2 years during the construction period and 5 during the installment period).
Regarding the contracts concluded from previous years, the criteria for depositing the shares of the company will be the rules announced at the stage of concluding the contract.
At the beginning of October this year, Jannati, the Director General of Roads and Urban Development of the province, reminding that the loan for the renovation of worn-out infrastructure in the city of Tehran is 550 million tomans and in the area of Shah Abdul Azim Hosni’s shrine is 600 million tomans, he said: the interest of 185 million tomans from the mentioned loan is zero and the interest of 365 million tomans is 23% Is.
Source: Tasnim