Tottering on the brink of a collapse, the Kerala State Housing Board is seeing new hope in Finance Minister Thomas Isaac’s statement in the budget that “the duties of the board have to be redefined” and that “it can become an important agency for the construction of buildings under the anti-recession package”.
Taking the budget proposals in right earnest, the board is learnt to be drawing up a plan of action, including measures to bring down expenditure by winding up some offices, merging others and putting a hold on new recruitments.
Sources in employees’ unions said the board authorities had also hinted at plans for leveraging its substantial land holdings. The board owns around 150 acres in various parts of the State, including on the pricey Marine Drive in Kochi.
Investment programme
The board has also been buoyed by the budget sanctioning a sum of Rs.50 crore from the Special Investment Programme for constructing a working women’s hostel on three acres at Pound Kadavu in Thiruvananthapuram. For the record, it has not undertaken any housing projects for a long time now.
The budget had also made it clear that the board could take up responsibility for pre-fabricated houses as part of the Housing for All programme to be implemented in the State.
Meanwhile, the board’s finances are in doldrums though its dues towards Hudco of around Rs.600 crore have been retired. With no new housing schemes, the board depends on rent revenue from its property for paying salaries and pensions.
The board’s revenue is not enough to meet the salaries and pension outgo to the tune of Rs.3.5 crore per month.
The Board authorities have hinted at plans for leveraging its substantial land holdings, say sources
