TEHRAN, Iran, Sept.21
Trend:
Iran's national housing plan is expanding day by day, which shows that it is successful, said Managing Director of Bank Maskan, the state-run agent bank of housing sector in Iran, Mahmoud Shayan, Trend reports via Mehr News Agency.
"So far 89,025 registrations were opened for the national housing plan, and about $469,000 has been paid out to contractors," he said.
"The first contracts for building 860 apartments have been signed between the bank and the contractors," he added.
"There are different types of loans that are offered to applicants for the housing. The loan would be applied to individuals and couples that have savings of some 400 million rials (about$9,500) over one year," he said.
"Other type of bank advances would be offered to individuals that participate in construction of houses, with 18 percent interest rate," Shayan said.
He went on to add that the ceiling for bank loans can be increased.
The current ceiling of bank advances for each housing unit is about $23,000, Shayan said.