The National Housing Development Authority (NHDA) has increased the soft loan package offered to public servants by Rs. 200,000.
Housing and Construction Minister Wimal Weerawansa says that the soft loan package that was Rs. 300,000 has been increased to Rs. 500,000.
The enhanced loan is provided under the Upahara housing loan scheme.
Weerawansa has told the media that 75 percent of the loan applications received by commercial banks are for housing loans and that most applications are rejected.
The Upahara housing loan is aimed at public servants whose loan applications are rejected by commercial banks.
The NHDA has approved 2,305 loan applications in the first half of 2011 and over 3,900 loan applications in the second half up to last week. (www.colombopage.com)