Earlier, the LDA used to charge 9, 10, 11 and 13% interest rate respectively for EWS, LIG, MIG/HIG residential properties, and commercial properties, but from now on existing customers and future property buyers would be charged 7, 8, 9 and 11% respectively for the properties.

 

LUCKNOW: In a major step to bring relief to its existing customers and future prospective property buyers, the Lucknow Development Authority on Tuesday lowered the interest rates up to 2%.

 

Earlier, the LDA used to charge 9, 10, 11 and 13% interest rate respectively for economic weaker section (EWS), lower income group (LIG), middle income group/high income group (MIG/HIG) residential properties, and commercial properties, but from now on existing customers and future property buyers would be charged 7, 8, 9 and 11% respectively for the properties.

 

Further, the EMI period has also been increased from two to five years.