Kerala - Kochi   

Priority for houses to the poor, says Mani

Staff Reporter

`Housing Board plans to reduce interest on loans'

TOWERING HIGH: The Revenue Tower which was inaugurated by Revenue Minister K.M. Mani in Kochi on Friday. - Photo: VipinChandran

KOCHI: Revenue Minister K.M. Mani on Friday inaugurated the Revenue Tower here on Friday. Built at a cost of Rs.25 crores by the Kerala State Housing Board (KSHB), it will house a number of Government offices besides providing a commercial complex.

Speaking after inaugurating the building, Mr. Mani said that the Government had been able to wipe out most of the Rs.4,000-crore debt it inherited when it came to power in 2001. The Government had till now paid Rs.680 crores of the Rs.1,100-crore dues to HUDCO, which had stopped financing the State's projects, he said.

The KSHB also managed to raise Rs.100 crores from properties, which were termed dead investments by auctioning off old houses at a low cost.

Mr. Mani said that the interest on housing loans at 10 per cent would be reduced to make to make the `Housing for All by 2010' scheme a reality.

The Government had earmarked Rs.300 crores for making houses for the poor, which would be implemented in association with the local body.

About one lakh houses costing Rs.30,000 would be built in the first phase and there would also be funds for renovating the existing houses built under the scheme. The Government would make 30,000 houses this year and 40,000 houses next year, the Minister said.

The Revenue Tower project was initiated in 1992 and Mr. Mani himself laid the foundation stone in 1995. The 14-floor building, opposite the Boat Jetty, will house many Government offices.

Legal issues

Construction of the Revenue Tower was entangled in legal issues, which resulted in the building remaining incomplete for about five years.

"The first four floors of the building will be given for commercial purposes. An escalator and air conditioning facility will be provided depending on the viability. This will be done only after a majority of the commercial area is rented out, the process of which will start in a month," said P.M. John, secretary, KSHB, while presenting a report on the construction of the tower.

Minister for Fisheries and Sports Dominic Presentation presided over the programme. Mayor Mercy Williams; MLAs K.V. Thomas, K. Babu and Ludy Luiz; District Collector A.P.M. Mohammed Hanish; Corporation Councillor K.V.T. Krishna Kumar; and technical member, KSHB, C.K. Thomas participated in the function.

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