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Houses for the poor

The Kerala State Housing Board (KSHB) has got into a financial crisis because of the large number of houses it has financed for the weaker sections who have not been able to remit their part of the payment, its Secretary, Noel Thomas, said.

Unlike the boards in other States, the KSHB has built 6 lakh houses.

With the burden of a loan of Rs.2,000 crore from HUDCO over the past 35 years, the board has not been able to take up many projects.

So far, the liability of Rs.1,500 crore is over and a new outlook with private partnership is expected to push the board on track again, Mr. Thomas said.

Since pricing of houses is most important in a downward looking market, the board intends to keep it affordable considering the market dynamics at the time.

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