Cooperative housing societies to avail concessional loans: CM

Politics Politics of India

Posted by AI on 2025-05-13 08:57:31 | Last Updated by AI on 2025-12-22 06:43:44

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Cooperative housing societies in the state can soon avail loans for self-redevelopment at attractive interest rates under the newly launched state government scheme.

Previously ignored by other governing bodies, the state government has not only introduced a self-redevelopment scheme but also provided 17 types of concessions to homeowners, said Maharashtra Chief Minister Devendra Fadnavis, announcing the decision taken in the state cabinet meeting on Tuesday.

Under the scheme, housing societies with upto 500 members can avail loans up to 10 crore from banks for self-redevelopment, with an interest subvention of up to 2%.

Addressing the inauguration of the two-day 'Housing for All' conference at Bandra Kurla Complex in Mumbai, Fadnavis urged cooperative housing societies to avail benefits of the scheme, stating that the government would contribute generously towards creating a better housing environment in the state.

The chief minister hoped that the conference would be a success and that it would provide valuable suggestions and insights for shaping the country's housing policy.

He further promised that the state government would consider the recommendations and include them in the upcoming state budget.

This scheme is a welcome initiative and a big relief for the people who were facing difficulties in getting loans for such redevelopment, hoping that more and more people will be able to avail of its benefits.

This is a significant step forward in ensuring housing for all in the state and marks the government's commitment to providing affordable housing to the people.

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