New Delhi, June 17: Housing and Urban Development Corporation (HUDCO) has signed an agreement with French Government for financing a pilot heritage housing project in Ahmedabad. Under the provision of the agreement, the pilot project would be developed through a special HUDCO Niwas scheme in the walled city of Ahmedabad and the French government would extend a one-time grant assistance to HUDCO for interest subsidy.
The agreement was signed by HUDCO chairman L M Mehta and Ambassador of France Dominique Girard, in the presence of Urban Development Minister Ananth Kumar.
The scheme would extend HUDCO Niwas loan to beneficiaries at a subsidised rate of five per cent, instead of 10 per cent rate, while the interest subsidy would be provided in terms of grant by the Government of France.

The project aims at developing a financing model that can be replicated for financing heritage structures revitalisation programme in other cities, Kumar said.
Bureau Report