The Congress government in Telangana has announced a financial aid of Rs. 5 lakhs for the construction of houses for the poor who do not own any. As part of the Indiramma Housing Scheme, it was revealed that assistance will be provided for the construction of houses for those with vacant land. Moreover, financial aid along with housing plots will be offered to those who do not have any land. The state government has set a target to construct 4.50 lakh houses every year, aiming for about 3,500 houses per assembly constituency. Additionally, under the state reserve quota, another 33,500 houses have been allocated. For the construction of houses in the first year, the state budget has already allocated Rs. 7,740 crores.
In this context, the state government has made a significant decision. HADCO has given the green signal to lend Rs. 3,000 crores from the state government's guarantee to the State Housing Corporation for the construction of houses in the initial phase. The scheme, subtly initiated last month by the state government, is set to be officially announced after the parliamentary elections, kickstarting the beneficiary selection process. As part of this, the government decided to borrow from HADCO and has sent proposals for the same. While the central government provides financial assistance of Rs. 1.50 lakhs for houses constructed in urban areas, the state government has also decided to aggregate this amount.
For the implementation of the scheme, officials have sent proposals for a loan of about Rs. 5,000 crores, out of which HADCO has agreed to sanction a loan of Rs. 3,000 crores. It has decided to release Rs. 850 crores in the first phase. Government sources have confirmed the issuance of orders to this effect.
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