Nation Current Affairs 08 Dec 2021 CM Jagan promises On ...

CM Jagan promises One Time Settlement for home loans

DECCAN CHRONICLE. | DC CORRESPONDENT
Published Dec 8, 2021, 11:41 pm IST
Updated Dec 9, 2021, 6:57 am IST
He directed the officials to create awareness on the benefits of the OTS scheme for house loans among people
During the review meeting held at the camp office here on Wednesday, the Chief Minister said the OTS scheme is totally voluntary and houses will be registered with clear title. Photo: Twitter
 During the review meeting held at the camp office here on Wednesday, the Chief Minister said the OTS scheme is totally voluntary and houses will be registered with clear title. Photo: Twitter

VIJAYAWADA: Chief Minister Y.S. Jagan Mohan Reddy on Wednesday said that the state government will waive off Rs 10,000 crore worth housing loans of poor under the One Time Settlement (OTS) scheme and the registrations will be done free of cost.

The Chief Minister held a review meeting on YSR Jagananna Colonies and YSR Jagananna Sampoorna Gruha Hakku scheme and directed the officials to create awareness on the benefits of the OTS scheme for house loans among people.

 

During the review meeting held at the camp office here on Wednesday, the Chief Minister said the OTS scheme is totally voluntary and houses will be registered with clear title. He said the beneficiaries would get legal rights on the properties and directed the officials to create awareness on these benefits among them.

The Chief Minister said a few vested interests have been trying to hinder the implementation of the OTS scheme. He said the previous government did not consider proposals to waive interest of housing loans and around 43,000 people have paid interest along with the principal amount during the previous government and added that only B-Form patta was given after complete payment in the past.

 

He said the state government was giving complete legal rights of the property to the beneficiaries through OTS scheme and they have the right to mortgage or sell the property.

Jagan said the OTS scheme is a best opportunity for the poor and it’s entirely their decision to use the scheme or not and directed the officials to distribute the registration documents from December 21. He said the state government will also register the houses and give absolute rights to 43,000 people who paid the loan amount in the previous government and added that the registration process will be continued in Village Secretariats in future.

 

The officials informed the Chief Minister that they have issued orders to remove Section 22-A and cancel stamp duty, transfer duty and user fees for OTS scheme beneficiaries.

They said the registration process is being done in village/ward secretariats and added that registration documents, field sketches and loan clearance certificates are being issued to the beneficiaries of the OTS scheme.

Jagan directed the officials to expedite the construction of houses as the court cases were resolved and rains were stopped and focus on the quality of the works.

 

He instructed the officials to give better suggestions to the people who are building the houses on their own and added to implement the policies that will reduce the construction cost. He said the bricks required for construction should be manufactured close to the respective colonies and labour camps and cement warehouses should be set up inside the layouts so that there won’t be transportation charges.

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