New ruling by NHB to safeguard home buyers from rogue builders

The National Housing Bank (NHB), the regulator for housing finance companies (HFC), has banned products which allow for builders to pay the interest in subvention schemes such as 25:75. “HFCs are advised to desist from loan products involving servicing of the loan dues by builders/developers etc. on behalf of the borrowers,” read the circular issued by the NHB, dated July…

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