Flats to Govt employees at Low cost

Hyderabad, March 14: Here the good news for government employees.The Telangana Chief Minister K. Chandrasekhar Rao has deciding to pay Rs.595.44 crore loan to State Bank of India, Union Bank of India and Central Bank of India.

The Government has proposed to sell flats in the townships of Bandlaguda and Pocharam built under the Rajiv Swagruha program to its employees at concessional prices.

This will give a boost to the sale, said Special Chief Secretary and MD of TSHB Chitra Ramchandran on Monday after she held a meeting with bankers to clear the liabilities of the Telangana Rajiv Swagruha Corporation.

The corporation incorporated in 2007 to provide affordable housing to middle-income group took loans from nationalized banks and constructed flats /houses under 13 projects at Bandlaguda, Pocharam, Gajularamaram, Chandanagar and Jawaharnagar in and around Hyderabad city, in Mahabubnagar, Tandur, Ramagundam, Nalgonda and Kamareddy.



The loan amounts were: State Bank of Hyderabad - Rs.198.93 crore, National Housing Bank - Rs.194.13 crore, State Bank of India - Rs.203.27 crore, Union Bank of India - Rs.196.12 crore and Central Bank of India - Rs.196.05 crore. These loans were taken by mortgaging the lands from 2008 to 2011.

But, repayment could not be made due to non-completion of projects in time and recession in the economy.

After Telangana formation, the Chief Minister decided to repay the loans and so far money borrowed from the NHB and SBH of Rs.393.06 crore had been cleared last year, a press release said.