Whose pockets will the 550 million Toman housing loan go to?
The Money and Credit Council set the individual ceiling for housing support projects equal to 550 million Tomans in all cities of the country.
The central bank announced: The increase in the housing construction loan limit to 550 million tomans is only subject to support projects and does not include self-ownership projects.
On the 19th of May this year, the Minister of Roads and Urban Development said regarding the issues related to the 50% increase in housing loans: the proposal to increase the construction loan to 550 million tomans is under consideration and the same amount will probably be approved.
In the continuation of public relations, Central Bank announced: The Money and Credit Council, in its meeting this evening, chaired by Mohammad Reza Farzin, after examining letter No. 24393 dated May 17, 1402, regarding the approval of the sixth session of the High Housing Council, the individual ceiling of facilities for housing support projects, subject to Article 4 The law set the jump in housing production equal to 550 million tomans in all cities of the country.
The central bank has recently announced in a letter to the CEOs of the banks involved in the national housing movement that only the supporting projects will be subject to the increase in the facility ceiling of this plan.
In this letter, which was sent to the CEOs of 27 banks and credit institutions, it is stated;
Pursuant to the letter… regarding the notification of the individual ceiling of the facilities subject to Article 4 of the Housing Production Surge Law, with regard to the uncertainties that have arisen for the operating banks regarding the mentioned facilities, it is informed according to the approvals dated May 19, 1402 of the Money and Credit Council in order to support the low-income groups of the society. It was decided that only the ceiling of housing support projects in all the cities of the country will be increased to the amount of 5500 million Rials (550 million Tomans); Therefore, taking into account the limitation of bank resources and the goal of the legislator (helping the homeless to get a house), all the approvals of the Money and Credit Council in this regard, including the reduction of the interest rate of bank facilities and the increase of the ceiling of the aforementioned facilities, only include housing support projects whose land is provided by the Ministry Road and urban development is provided and offered to the applicants, and urban/rural self-owned projects are not subject to the increase of the ceiling and the reduction of the interest rate of the mentioned facilities.
It is worth mentioning that in the mentioned approvals, the granting of facilities is not mentioned, and the terms of granting the above-mentioned facilities, such as the interest rate and the individual ceiling of the facility, are subject to the conditions contained in the facility contract.