<p dir="LTR"><span>Financial Tribune –In order to implement the Social Housing Scheme to provide more than 100,000 residential units for low-income groups each year, 4.2 trillion rials ($105 million) in government subsidies are required annually, the deputy head of Housing Foundation of the Islamic Revolution announced.</span></p> <p dir="LTR"><span> “In addition to the government subsidy, about 24 trillion rials ($600 million) in bank loans and 17 billion rials ($430,000) worth of gratuitous financial assistance have been considered,” Javad Haqshenas was also quoted as saying by HIBNA, Bank Maskan’s news portal.</span></p> <p dir="LTR"><span>The Social Housing Scheme is a subcategory of the government’s Comprehensive Housing Plan that incorporates programs to provide low-income groups and those covered by state charities like the Imam Khomeini Relief Committee and State Welfare Organization of Iran with affordable housing.</span></p> <p dir="LTR"><span>Haqshenas noted that individuals who are eligible can receive bank loans worth 300 million rials ($7,500), 400 million rials ($10,124) and 500 million rials ($12,650) depending on the status of their city.</span></p> <p dir="LTR"><span>The official added that according to a Cabinet directive, if eligible individuals intend to buy a residential unit in the framework of the Mehr Housing Plan, they can benefit from 70 million rials ($1,780) of gratuitous financial assistance.</span></p>