Home projects hit after NHB asks HFCs to stop financing subvention schemes

Many buyers will need to defer their home purchase after the National Housing Bank (NHB) directed housing finance companies (HFCs) to ‘desist’ from offering interest subvention schemes. Those in the process of buying a house under such schemes will also face problems as HFCs will put disbursements of such loans on hold.

Industry sources say there will be an immediate and long-term impact. “The immediate impact is that if you are buying a home under the subvention scheme, and your loan has already been sanctioned, the HFC will put the disbursement on hold. Such buyers will need to rejig their