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AP Govt. to Clear Housing Loans up to ₹10,000 Crore via One-Time-Settlement Scheme

Posted by luckypropertywala_sxyoj4 on December 22, 2021
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AP Govt. to Clear Housing Loans up to ₹10,000 Crore via One-Time-Settlement Scheme

The Chief Minister of Andhra Pradesh – Y.S. Jagan Mohan Reddy made the announcement after this review meeting with officials regarding housing schemes & programs on Wednesday i.e., 8th December 2021. The meeting was held at Tadepalli Camp Office where the CM of AP declared that the AP govt. aims to erase housing debts adding up to ₹10,000 crores for the poor via the One-Time Settlement (OTS) housing scheme. The CM also added that the AP govt. would also provide free registration facilities for the houses & transfer all rights to the beneficiaries.

After a long meeting at the Tadepalli Camp Office, the CM made the aforementioned announcements. The Chief Minister of Andhra Pradesh Y.S. Jagan Mohan Reddy, the son of late ex-CM of united AP Y.S. Rajashekhar Reddy urged officials of the state to increase awareness amongst the people of AP, especially the poor about the benefits of the One-Time-Settlement scheme for clearing or availing affordable housing loans. The CM also added in his address to the media that participation in the One-Time-Settlement Scheme is completely voluntary and all houses will be registered in the name of beneficiaries will have clear titles.

The CM of AP added that there were quite a few parties spreading false news regarding the housing schemes offered by the government. He also said that the previous state government did not take any measures to help poor people pay off housing loans. Over 43,000 people have paid interest along with the principal amount during the previous government. Though houses were given to them over the years by the successive governments, they have only B form pattas, which deprive them of their domestic needs – he added.

Through the OTS scheme, the state government will award complete legal property rights to the beneficiaries, who can choose to sell, mortgage or use their property. The 43,000 beneficiaries who paid loan amounts to the previous government will also receive registered houses with absolute rights. The registration process will be continued at village secretariats in the near future. The government further said that registration document, field sketch and loan clearance certificates were already being issued to OTS scheme beneficiaries. Details of the progress of construction work under the ‘Pedalandariki Illu’ Scheme were also published post the meeting.

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