Mugugappa group’s Chola to give loans in tie-up with Hudco

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New Delhi | May 10, 2017 4:28 PM

Murugappa group's Cholamandalam Investment and Finance Company (Chola) will give loans to home buyers under credit linked subsidy scheme of the Pradhan Mantri Awas Yojana in a tie-up with Hudco.

Public sector Housing & Urban Corporation (Hudco) offers techo-financial solutions for affordable housing and urban development.

Murugappa group’s Cholamandalam Investment and Finance Company (Chola) will give loans to home buyers under credit linked subsidy scheme of the Pradhan Mantri Awas Yojana in a tie-up with Hudco. Public sector Housing & Urban Corporation (Hudco) offers techo-financial solutions for affordable housing and urban development.

Chola said it has already aligned itself with government initiatives and offers loans to self-employed non-professional customers also. This tie-up will further strengthen company’s position by helping first home buyers in realising their dream, Chola said in a statement.

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“This partnership will also help us extend CLSS scheme to our customers and take formal credit to the underserved markets thereby helping our customers enter a better life,” said Vellayan Subbiah, Managing Director, Chola. Rekha V Sarathy, Executive Director-Chennai Regional Office Hudco said the partnership would help channelise government’s interest subsidy to home loan seekers.

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