The Government has proposed to sell flats in the townships of Bandlaguda and Pocharam built under the Rajiv Swagruha programme to its employees at a concessional price with Chief Minister K. Chandrasekhar Rao deciding to pay ₹595.44 crore loan to State Bank of India, Union Bank of India and Central Bank of India.
This will give a boost to the sale, said Special Chief Secretary and MD of TSHB Chitra Ramchandran on Monday after she held a meeting with bankers to clear the liabilities of the Telangana Rajiv Swagruha Corporation.
The corporation incorporated in 2007 to provide affordable housing to middle income group took loans from nationalised banks and constructed flats /houses under 13 projects at Bandlaguda, Pocharam, Gajularamaram, Chandanagar and Jawaharnagar in and around Hyderabad city, in Mahabubnagar, Tandur, Ramagundam, Nalgonda and Kamareddy.
The loan amounts were: State Bank of Hyderabad - ₹198.93 crore, National Housing Bank - ₹194.13 crore, State Bank of India - ₹203.27 crore, Union Bank of India - ₹ 196.12 crore and Central Bank of India - ₹196.05 crore. These loans were taken by mortgaging the lands from 2008 to 2011.
But, repayment could not be made due to non-completion of projects in time and recession in the economy. After Telangana formation, the Chief Minister decided to repay the loans and so far money borrowed from the NHB and SBH of ₹393.06 crore had been cleared last year, a press release said.
