The Hindu : Andhra Pradesh / Hyderabad News : APHB houses : waiver of interest on instalments

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Andhra Pradesh

Andhra Pradesh - Hyderabad

APHB houses : waiver of interest on instalments

Special Correspondent

State to take up extra burden of Rs. 1,400 cr. under Indiramma
Dwelling unit to be registered only after outstanding amount is cleared

HYDERABAD: The government on Friday announced waiver of penal interest on instalments payable by allottees of Andhra Pradesh Housing Board houses at different percentages to LIG, MIG and HIG beneficiaries.

The penal interest, however has been fully written off if the defaulter belonged to economically weaker sections.

At a press conference here on Friday, Housing Minister Botsa Satyanarayana explained that the waiver would benefit defaulting allot tees of LIG, MIG and HIG houses to the tune of Rs. 20 crore.

The outstanding amounts could be remitted up to December 31. He asked allottees across the State including Hyderabad, Visakhapatnam and Vijayawada, to avail the opportunity and remit the balance instalments before the deadline.

The dwelling unit would be registered only after the outstanding amounts were cleared.

He said 60-90 per cent waiver was allowed on penal interest in case of MIG allottees, 25-75 per cent for MIG beneficiaries and 15-50 per cent for HIG allottees.

He said government had decided to bear the additional burden of Rs. 1,400 crore under Indiramma housing programme, taking the total cost of the programme up to Rs. 6,400 crore.

Of the additional burden, Rs. 700 crore was due to the rejection of State government decision to use funds of the National Rural Employment Guarantee Programme for Indiramma to the tune of 40 mandays, working out to Rs. 3,200 per unit.

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