Construction of houses under the prestigious two-bedroom housing scheme is expected to gather pace with the State government permitting the Telangana State Housing Corporation Limited to avail loan to the tune of ₹ 2,400 crore from the HUDCO.
The corporation has sought the government’s permission to accept the terms of conditions offered by HUDCO to avail the new loan under the housing programme for the just-concluded financial year 2019-20 besides issuing guarantee for the said loan.
The corporation planned to utilise the assistance for construction of 70,318 houses under the 2BHK scheme. These include 8,519 houses in rural areas, 26,577 in urban and 35,222 houses in the GHMC area.
The government in its orders accorded permission to the corporation to avail the loan and accepted to provide guarantee along with budgetary provision for repayment of principle along with interest for the entire tenure of repayment of the HUDCO loan for the construction of over 70,000 houses.
Central schemes
The development follows the government’s plan to raise ₹ 2,500 crore as loan from HUDCO as announced by Housing Minister Vemula Prashanth Reddy in the Legislative Assembly during the budget session in September last. The loan was in addition to release of ₹ 1,365 crore under Central schemes while the State government had made budgetary allocation of ₹ 185 crore for the scheme during the previous fiscal.
The allocation for the prestigious project during the current financial year has, however, been increased significantly to ₹ 10,000 crore as part of efforts to accelerate the works on the project and ensure that the housing units are handed over to the beneficiaries at the earliest.
The 2BHK project was launched with an outlay of over ₹ 18,000 crore envisaging construction of 2.82 lakh houses of which tenders had been called for works relating to two lakh houses.
Construction started on 1.8 lakh houses and works on more than 30,000 houses had been completed in all respects. The government had incurred close to ₹ 7,000 crore towards the construction of the 2BHK houses in different parts of the State including a massive complex of 17,000 houses in Kollur on the city outskirts.