Repco Home Finance has reportedly entered into agreement with National Housing Bank for implementation of credit-linked subsidy scheme for the middle income group. The scheme will be implemented for one year with effect from January 1, 2017, in all statutory towns as per the Census 2011 and towns notified subsequently by the Centre.
The scheme divides middle income group into two categories - with annual household income up to Rs 12 lakh and Rs 18 lakh. The acquisition/construction (including repurchase) scheme is available for houses not exceeding 90 sq m and 110 sq m carpet area with all basic civic infrastructure.
Repco Home Finance is a professionally managed housing finance company head quartered in Chennai, Tamil Nadu. It is registered as a housing finance company with the National Housing Bank (NHB).