Kerala - Kannur   

Housing scheme

Staff Reporter

KANNUR: A housing scheme, for those without houses, will be launched in Sreekantapuram panchayat in association with the District Co-operative Bank (DCB).

DCB president P. Balan and panchayat vice-president P. Madhavan told a press conference here on Thursday that under the scheme a family owning no less than three cents of land in the panchayat would be provided a loan of Rs.50, 000 at 7.5 per cent interest. The loan has to be repaid in 15 years.

The scheme also includes a subsidy of Rs.10, 000 each to the beneficiaries, they said.

The beneficiaries would be selected by grama sabhas from the 19 wards of the panchayat, they said. Repayment would be ensured every month through Kudumbasree units.

Mr. Balan said more grama panchayats had approached the bank to implement similar schemes.

He said the bank was releasing Rs.2.25 crore for the housing scheme in Sreekantapuram.

Minister for Co-operation G. Sudhakaran would inaugurate the scheme at Sreekantapuram here at 2.30 p.m. on November 26.

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