Low-cost loan for govt employees to boost housing sector: REHAB
FE Report
Hailing the government’s move to provide low-cost housing loan to its employees, the realtors said it will help turn around the country’s real estate sector.
They also said such affordable home loan for nearly 1.2 million public servants will also give an impetus to the national economy, as 269 other sectors are related to housing.
The Real Estate and Housing Association of Bangladesh (REHAB) expressed these views at a press conference at a city hotel on Monday.
REHAB president Alamgir Shamsul Alamin, first vice-president Liakat Ali Bhuiyan, second vice-president Md Ahkam Ullah and vice-president Md Abdul Kauiam Chowdhury were present at the press conference.
Speaking on the occasion, Shamsul Alamin said the government employees will avail home loan at 5.0 per cent interest rate once the decision takes effect.
They can receive a loan of Tk 3.0 million to Tk 7.5 million depending on their pay-scale grade, he said.
Referring to the government’s goal of ‘housing for all’, the REHAB president said the circular regarding home loan is the reflection of this goal.
“We also expect the circular comes into effect in no time,” he added.
According to the government circular, the loan will carry a 10 per cent interest rate and is repayable in 20 years.
A borrower will have to pay 5.0 per cent interest while the government will provide the remaining 5.0 per cent on behalf of the borrower.
In response to a query, the REHAB leader said customers are showing interest in buying property in recent times after the announcement of ‘single digit’ interest on loans.
“But all of the financial institutions are not following the directives,” he added.
Regarding the prospect of secondary real estate market, he said the realtors are regularly participating in discussions with stakeholders in this regard.
Giving feedback to another query, he suggested that new buyers should remain cautious while purchasing flats or lands.
“I would request customers to check out our websites, where you can find the dos and don’ts about a property purchase,” he said.
He also called on the clients to make deals with the real estate companies affiliated with the REHAB.