Revanth Reddy Urges HUDCO to Grant Loans at Low Interest Rates
The Chief Minister appealed to Sanjay to provide loans at low interest rates for the construction of prestigious projects - Bharat Future City, Hyderabad Metro Rail extension, RRR and Radial Roads
Hyderabad: Chief Minister A. Revanth Reddy urged Hudco chairman Sanjay Kulshrestha to provide loans at lower interest rates for the major infrastructure and development projects launched by the state government, such as Bharat Future City, Hyderabad Metro Rail extension, Regional Ring Road (RRR) and radial roads.
At their meeting at the Chief Minister’s residence, Revanth Reddy briefed the Housing and Urban Development Corporation (Hudco) Limited chairman on the construction of greenfield roads from Bharat Future City to Chennai via Bengaluru and Amaravati, a greenfield highway to Bandar Port, and the proposed high-speed train corridor.
The Chief Minister also brought the issue of loan restructuring to the attention of the Hudco chairman, expressing concern over the high interest rates on loans taken by the previous BRS government. The chairman responded positively and assured steps to address the issue of high interest payment.
Considering the fast-paced growth of the state, Revanth Reddy requested that loans for new projects be provided at lower interest rates. Kulshrestha informed Revanth Reddy that loans had already been sanctioned for Indiramma houses and responded positively to the immediate release of loans for the construction of another 10 lakh houses.
On the occasion, the Chief Minister invited Kulshrestha to attend the Telangana Rising Global Summit to be held at Bharat Future City on December 8 and 9.
Revenue minister Ponguleti Srinivas Reddy, Chief Secretary K. Ramakrishna Rao, Chief MInister’s secretary K. S. Srinivasa Raju, principal secretary (finance) Sandeep Kumar Sultania, special chief secretary Vikas Raj, housing department managing director Gautam, Hudco regional chief P. Subhash Reddy, and joint general managers Ashish Gundala and Syed Rahimuddin, among others, participated in the meeting.
