Pune based Darode-Jog Builders Pvt. Ltd. has tied-up with the private lender, HDFC Ltd, to offer home loans up to Rs 30 lakh at an interest rate of 6.25 percent annum, for the 'Crossover County' project of the company.

The rate of interest [6.5 percent] will be applicable for the initial two years repayment period, following which it will be reset to retail benchmark rate, the Floating Reference Rate (FRR) until the repayment of the full sum. The maximum loans amount under the scheme is Rs 30 lakhs.

The director of the group, Sudhir Darode, said, "Under this tie-up HDFC shall offer a special rate of interest of 6.25 percent on the home loans up to 30 lakh for customers, who will purchase a flat from 'Crossover County' project on Sinhagad Road."

The rate of interest offered under the scheme is 3 percent less than the prevailing rates of interest offered by the bank for salaried class individuals.

Stating the merits of the alliance, Anand Jog, director, Darode Jog Properties, said, "Not only will this prove to be financially beneficial for the customers but will also help in increasing their loan eligibility."

One of the leading construction companies in Pune, the Darode-Jog Builders Pvt. Ltd., entered the budget homes segment with the launch of ‘Greenland County' project on Sinhagad Road.

The project will have over 1000 housing units in the categories like 1/1.5/2 BHK and claims to give possession within 1 year. Sudhir Darode said that company plans to come up with similar projects in budget housing, with an equal focus on the premium segment housing.

HDFC Bank, a leading private lender has also tied up with Tata Housing to provide finance options to customers for the Shubh Griha project of the company.