Home construction loans in urban slum areas have been paid to 20,295 applicants since fiscal 2019-20 up until now, Mohammad Hassan Alamdari, an official with Bank Maskan, the state agent bank of the housing sector, says.
“The total value of these loans stands at 13,910 billion rials [$64 million],” he was quoted as saying by the news website of the Ministry of Roads and Urban Development.
Bank Maskan has increased the value of loans it offers to urban slum home builders who use advanced technology from 2,500 million rials [$11,520] to 3,000 million rials [$13,824], he added.
Alamdari noted that renovation loans at a lending rate of 9% worth 500 million rials ($2,304) in Tehran and other large cities, and 400 million rials ($1,843) in other cities are being granted to urban slum homeowners who rebuild their property.
“Other banking facilities will be offered at a lending rate of 18%,” he noted.
