NHDC Rent-to-Own: How Rs 4,000 a Month Buys Mauritians a House in 5 Years

A significant opportunity for aspiring homeowners struggling to secure bank loans has emerged with the introduction of the ‘Rent-to-Own‘ scheme by the National Housing Development Company Ltd (NHDC).

The initiative is designed to allow tenants to rent a property for as little as Rs 4,000 per month over a five-year period, at the end of which they will become the legal owner.

Key Eligibility Criteria

This programme specifically targets families who cannot obtain a traditional bank loan. To qualify, applicants must meet two core requirements:

• Their total monthly household income must not exceed Rs 48,000.
• The applicant must not currently own any real estate property.

The NHDC Initiative

The scheme aims to make the dream of home ownership a reality. The structure allows eligible households to build up tenure over five years through affordable monthly rental payments, leading directly to full property ownership.

Source: Defi Media