Andhra Pradesh: CM Jagan Mohan Reddy releases Rs 47 cr for housing beneficiaries

Amaravati (Andhra Pradesh) [India], January 18 : Andhra Pradesh Chief Minister YS Jagan Mohan Reddy released Rs 46.90 crore on Thursday towards reimbursement of interest for 4,07,323 beneficiaries who have availed housing loans from banks under Navaratnalu-Pedalandariki Illu. Reimbursement is done twice a year.
Releasing the amount virtually with the click of a button from the Camp Office here on Thursday, the Chief Minister said that the interest reimbursement over and above three per cent on the bank loan of Rs 35,000 each helps the beneficiaries pay only 25 paisa interest on housing loans for houses constructed in Jagananna Colonies.
As the banks are providing housing loans at 9 to 11 per cent interest rates, the Government has decided to reimburse interest over and above three per cent to reduce the financial burden on the beneficiaries. So far, it has provided bank loans worth Rs. 4500.19 crore to 12.77 lakh beneficiaries.
In an unprecedented manner, the Government has distributed 31.19 lakh house site pattas to the poor and more than 22 lakh houses are under construction, he said, adding that 8.6 lakh houses have been handed over to the beneficiaries.
The government is providing a benefit of Rs. 2.7 lakh on the construction of each house, including financial assistance of Rs. 1.8 lakh, free sand worth Rs. 15,000 and discounts worth Rs. 40,000 on the supply of cement, steel and metal frames, he said, adding that the property worth of each beneficiary ranges from Rs. 5 to 20 lakh depending on the area.
Some of the beneficiaries also spoke virtually and expressed their gratitude to the Chief Minister for providing them with houses.
Housing Minister J Ramesh, Chief Secretary Dr KS Jawahar Reddy, APHC MD Lakshmi Shah and Chairman Sharmila Reddy, Special CS Ajay Jain (Housing), Special Secretary B Mohammad Deewan Maidin (Housing), SERP CEO A Md. Imtiaz, MEPMA MD Vijayalakshmi, and senior officials were among those present.