How do I apply for a NHDC unit? What are the eligibility criteria to obtain a NHDC unit?
Interested persons should call at the NHDC Ltd situated at 4th floor, Royal Complex, St Ignace Street, Rose Hill, Tel No: (230) 466 5556/7
They should bring along the following documents:
- Birth Certificate
- National Identity Card
- Marriage Certificate (if any)
- Death Certificate (if any)
- Recent Payslips or other proofs of income
- Pension card (if any)
- Most recent PEL A/C receipt and/or Bank Statement
- CEB/CWA bills
What Interest rate does the NHDC charge on the payment?
The allocation exercise is based on the following criteria:
- Applicants should not be owner of a housing unit or of a plot of residential land;
- Applicants for a unit under the Firinga 5 Housing Project should not earn a monthly income of more than Rs12,000.
Will I be eligible to buy a house of the NHDC if I do not have the total amount?
For households earning up to Rs 10,000 per month
- Long term credit repayment period up to 25 years, depending on the age of the applicants;
- subsidized rates of interest of 6.5% during the first five years, 8.0% during the next five years, and 10.0% during the remaining years of the repayment period; and
- A non-refundable Government grant equivalent to 20% of the gross credit amount subject to a maximum of Rs33,000.
||For households earning more than Rs 10 000|
- Long term credit repayment period up to 25 years, depending on the age of the applicants; and
- Subsidized rates of interest of 8% during the first five years, 10% during the next five years, and 12% during the remaining years of the repayment period.
A deposit of at least 10% of the selling price is required. The balance repayable over a period of up to 25 years, depending on the age of the applicant.
However, to be eligible, the repayment capacity should not exceed 30% of the net monthly income.