Now in India - rural home loans
In a bid to galvanise rural economy and address the shortage of housing in rural areas the National Housing Board (NHB) has launched a new project. Titled Productive Housing in Rural Areas (PHRA), the project is in partnership with a non-governmental organisation or NGO called the Dhan Foundation. The NHB believes a partnership with other institutions will help provide both money and other assistance resulting in a multiplier effect.
The new project is also aimed at directing flow of loan capital to rural areas instead of having them swallowed up solely by urban markets. According to a 2004 report released by the NHB on Trend and Progress of Housing in India,less than 15 per cent of the total housing loan disbursements flows into rural areas. In an attempt to reverse this trend, the NHB also provides direct lending for rural housing as well as lending through other institutions.
By INRnews Correspondent
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