Title: Major Housing Initiative Expands: Eligibility for 400 Million Toman Loans Detailed
In a significant move to bolster national housing projects and support citizens, the National Housing Foundation continues to play a pivotal role alongside the government. A senior official has outlined the scope and ambitious targets of key housing programs, highlighting accessible financial support for eligible applicants.
Enhanced Government Support
Hojjatoleslam Hossein Rouhaninejad, the Representative of the Supreme Leader in the National Housing Foundation, emphasized the Foundation’s collaborative work with the government on major national projects such as the National Housing Movement. He noted that under the 13th administration, housing loan amounts have been increased in several stages, a process overseen by the Ministry of Roads and Urban Development. The loan ceiling has now reached 650 million tomans for certain initiatives.
Focus on Rural and Small-Town Development
A central pillar of this effort is the revitalization of housing in rural areas and towns with populations under 25,000. The Foundation has been tasked with the annual renovation or reinforcement of 200,000 residential units in these regions.
This critical objective is being achieved through the provision of substantial 400 million toman loans. These facilities are offered with a 5% profit rate and an extended 20-year repayment period, making them highly accessible for qualified rural families.
Future Prospects and Prudent Planning
While confirming that proposals for further increasing loan amounts will be made, Rouhaninejad stressed the importance of ensuring borrowers have the capacity for repayment. He indicated that traditionally, these loan amounts see an annual increase of 50 to 100 million tomans. Any potential increase for the upcoming year will depend on the resources allocated by the government and its subsequent decisions, for which the Foundation has already submitted its recommendations.
Commitment to Housing for the Underprivileged
The official also detailed significant progress in constructing housing for underprivileged families across cities of all sizes. Over a three-year period, the Foundation has built 50,000 such units. Furthermore, construction on an additional 100,000 units began during the 12th administration and was successfully completed under the 13th administration.
An additional 50,000 units for the underprivileged have been approved in the current administration, with land secured and construction work already commenced. There is a concerted effort to also extend the 400 million toman loan facility with a 5% profit rate to the beneficiaries of these 50,000 units—a proposal that has been met with government approval.