Chief Minister Y.S. Jagan Mohan Reddy has released ₹46.90 crore towards reimbursement of interest for 4,07,323 beneficiaries who have availed housing loans from banks under Navaratnalu-Pedalandariki Illu scheme. The reimbursement is done twice a year.
Releasing the amount virtually with the click of a button from the camp office at Tadepalli in Guntur district on Thursday, the Chief Minister said that the interest reimbursement on the bank loan of ₹35,000 each helps the beneficiaries pay only 25 paise interest on the loans taken for construction of houses in Jagananna Colonies.
‘’As the banks are providing housing loans at 9 to 11% interest rates, the government has decided to reimburse the interest over and above three percent to reduce the financial burden of the beneficiaries. So far, it has enabled 12.77 lakh beneficiaries to get bank loans worth ₹4,500 crore,’‘ he said.
‘’The government has distributed 31.19 lakh house site pattas to the poor and more than 22 lakh houses are under construction,’‘ the CM said, adding 8.6 lakh houses have been handed over to the beneficiaries.
The State government is providing a benefit of ₹2.7 lakh on the construction of each house, including a financial assistance of ₹1.8 lakh, free sand worth ₹15,000 and discounts worth ₹40,000 on supply of cement, steel and metal frames, he said, adding that the worth of the property of each beneficiary ranges from ₹5 lakh to ₹20 lakh depending on its location.
Some of the beneficiaries also spoke virtually and expressed their gratitude to the Chief Minister for providing them houses.
Housing Minister Jogi Ramesh, Chief Secretary K.S. Jawahar Reddy, AP Housing Corporation MD Lakshmi Shah and Chairman Sharmila Reddy, Special CS (Housing) Ajay Jain, Special Secretary B. Mohammad Deewan Maidin (Housing), SERP CEO A. Md. Imtiaz, MEPMA MD Vijayalakshmi, and senior officials were among those present.
