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KCR waived Rs 3,920 crores of outstanding home loans of poor

Hyderabad: Keeping his promise made in December 2016, Chief Minister K Chandrasekhar Rao has freed 29.64 lakh beneficiaries from repaying the loans they took to buy houses in undivided Andhra Pradesh since 1983 until 2 June 2014 when Telangana state was formed.

The state government has waived Rs 3,920 crore loan component of the beneficiaries of weaker section housing schemes as per an order issued by them.

The Telangana Rashtra Samithi (TRS) government had looked into the details of such beneficiaries in the then newly formed state and found out that a sum of Rs 3,920 crore of payment was pending, reported TOI.

Meanwhile, the officials said these beneficiaries whose pending loan component has been waived would not be eligible for two-bedroom housing project of the TRS government.

Under the rural permanent housing during the period between 1983 and 2 June 2014, as many as 2,16,652 houses were constructed with a unit cost ranging from Rs 9,000 to Rs 80,000 and an amount of Rs 546.89 crore was paid out to the beneficiaries towards loan component.

Also, under special schemes for beedi workers, fishermen and weavers, as many as 70,627 houses were constructed with a unit cost ranging from Rs 8,000 to Rs 42,000. An amount of Rs 75.46 crores was disbursed to the beneficiaries towards loan component.