Rent To Own Scheme By HUDCO

I want to get the details of Rent-to-Own Scheme for Housing & Urban Development Corporation HUDCO Financing so can you provide me?

[pawan]

HUDCO has been striving to make Housing forAll a reality. One of the sections
of the society which finds it very difficult to own a house in the career span is the salaried public government sector employees, specially at the lower rung.

Rent-to-Own Scheme Guidelines for HUDCO Financing Purpose

Towards improving access to housing for this section of the society, HUDCO has conceived this Rent-to-Own Scheme.

The agency would allot the houses to its employees initially on rental basis.

The employee would become the owner of the house as and when the full cost of the house is paid to the Agency.

Eligibility-

All the public sector Institutions/Organisations who are eligible to borrow
funds from HUDCO shall be eligible to avail financial loan assistance under
the scheme from HUDCO.

The ultimate beneficiaries are its employees.

The borrower is the public agency.

The agency would decide on the Employees for whom it would be willing to avail the funds and facilitate them to own the initially rented house.

Employee related aspects such as employees transfer, method of adjustment by agency in case of short service of the employee, resigning/leaving the service by employee, etc are to be taken care by the public agency - the borrower of funds from HUDCO.