Delhi govt earns overs Rs 100 cr as dividend from coop housing finance corp
Jun 24, 2022
New Delhi [India], June 24 : The Delhi Government has earned Rs 7.26 crores as dividends for the last two years from Delhi Co-operative Housing Finance Corporation.
The cheque was presented by DCHFC Chairman Rajesh Goyal and Managing Director R Alice Vaz, IAS along with the directors of the corporation.
The Delhi government invested Rs 30.26 crores in DCHFC to hold 96.86 per cent of the share capital of the corporation.
So far, the government has received over Rs 100 crores as dividends from the corporation which is three times the amount invested by the Government.
In this sequence, a dividend of Rs 7.26 crores was paid by the corporation for the last two financial years. Rs 3.63 crores were received for the years 2019-20 and 2020-21 each by the Chief Minister Arvind Kejriwal on behalf of the government.
Notably, DHCFC paid a dividend at 12 per cent of the amount invested to each investor on a yearly basis.
Delhi Co-operative Housing Finance Corporation is an apex body constituted for the purpose of granting finance to housing co-operative societies in Delhi. Various housing co-operative societies in Delhi are members of the DCHFC.
It provides housing loans to its member cooperative societies and individuals at affordable interest rates.
The corporation provides customer-oriented concession and facilities for initial swapping. It regularly introduces new products to give quality support to the borrowers.
It has disbursed over Rs 600 crores to date. The corporation had also extended support during the COVID-19 pandemic and provided a sum of Rs 1 crore to the CM Relief Fund.
