Andhra Pradesh Housing Board (APHB) has, after a long time, introduced a housing scheme for Lower Income Groups (LIG) in different parts of the State, including Hyderabad.
The new housing scheme will primarily target government employees and the houses will be provided under the ‘Hire Purchase System’.
Under the scheme, prospective buyers need to pay only 40 per cent of the cost to APHB and the balance 60 per cent could be paid in 10 years through EMIs. However, the flats would be handed over to the buyers only after payment of the first 40 per cent.
“We introduced the hire purchase system after realising that the banks and financial institutions do not come forward to fund for the construction of LIG houses or flats,” explained B. Raja Gopal Rao, Chief Engineer, APHB.
About 3,000 flats are to be constructed in Krishna, Visakhapatnam, Ranga Reddy, Nellore, Nalgonda and Hyderabad.
The city will get around 1,900 houses at five places, Kukatpally, Bandlaguda, Chandanagar, Nizampet and Red Hills.
Cost A flat of 450 square feet will cost between Rs.10.3 lakh and 15.5 lakh, depending on the location.
The works will begin by March next year and the board plans to complete the project in 18 months. Primarily, the project has been taken up with an aim to cater to the housing needs of Class IV employees of government sector.
Second preference will be for the ministerial staff up to the level of superintendents, and outsourced staff and lastly it will be open for general public, he said.
For the proposed housing scheme, the APHB has recently issued demand survey notification.
The applicants have to pay 10 per cent of the cost along with application form and the balance 30 per cent could be paid during the construction period.
Of the total flats, 30 per cent would be reserved for women, 16 per cent for SCs, nine per cent for BCs, six per cent for STs, one per cent for physically-challenged persons, and three per cent for defence personnel.
Last date Applications can be downloaded from the APHB’s web site and the filled-in forms should be submitted before December 20.
It will be a self-finance scheme
The APHB has also come forward with two housing projects, one for the Middle Income Groups (MIG) and another for the Higher Income Groups (HIG).
These are to be taken up at different places in the State, which include two locations in the city.
A total of 290 flats are to be constructed at Kukatpally, with the applications already being scrutinised and tenders having been called for taking up the works.
In tune with the previous schemes, this will be a ‘Self -Finance Scheme’ wherein either the buyers can take a loan from any bank or pay the entire amount themselves.
Out of the 290 flats, about 200 are MIG and the remaining 90 are HIG flats. “We usually go for MIG housing schemes as it evokes a good demand,” said APHB Chief Engineer, B. Raja Gopal Rao.
The project will start in March next year and the officials hope to complete the construction of all the 10 storeyed buildings in a year’s time.
“We will stick to the time frame. There was some delay because projects above Rs. 10 crore costs need government approval and we have been accorded it,” the official said.
This apart, the APHB is also constructing independent houses for HIG, MIG and LIG groups at Raviryal in Shamshabad on the city outskirts, and in Vizag.
The board plans to construct about 470 independent houses at Raviryal. The houses too will be given through the similar Self Finance Scheme, he said.
The official confirmed that the issue of registration of the houses at the rate of market value prevailing at the time of entering the agreement with the buyer and APHB has been resolved. “We have successfully taken up the matter with the Registration department and the issue has been sorted out,” Mr. Rao claimed.
