Bankers to lend housing loans to beneficiaries as per norms

Kakinada: Many housing projects were taken up under the PMAY-NTR Housing Scheme in East Godavari district benefiting urban poor in 7 municipalities and two municipal corporations.

The projects are taken up in Tuni, Peddapuram, Pithapuram, Samarlakota, Ramachandrapuram, Mandapeta, Amalapuan and the two corporations Kakinada and Rajamahendravaram. The housing cost varied from Rs 4 lakh, Rs 5 lakh and Rs 7 lakh for 200, 250 and 300 sft housing schemes. Nearly 22,000 houses were under various stages of completion in the district. Regarding the cost of construction, the Centre will bear Rs 1.50 lakh subsidy under the PMAY, another Rs 1,50 lakh by the State government under the NTR Housing Scheme and Rs 1 lakh as beneficiary contribution.

In order to complete the construction, the housing authorities assured a bank loan up to Rs 3 lakh depending on the cost of house. East Godavari lead bank district manager B V Subrahmanyam said the bankers in the district were prepared to extend assistance to housing beneficiaries taking site documents as pledge only. "We also insist for regular repayments. We made this clear to municipal authorities in the district," Subramanyam clarified.