Chief ministerYS Jagan Mohan Reddyhas said that the government was planning to waive Rs 10,000 crore worthhousing loansof the poor through the One-Time Settlement (OTS) scheme.
He further said that the government would provide free registration of the houses transferring all rights to the beneficiaries.
The chief minister made this announcement with the officials during his review meeting on housing programme at his Tadepalli camp office on Wednesday. He wanted the officials to create awareness on the benefits of the OTS scheme for house loans among people. He further said that OTS scheme is totally voluntary and houses will be registered with clear title.
Jagan said a few vested interests were spreading false information on OTS scheme. He said the previous government did not consider proposals to waive interest of housing loans. He said 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 even availing loans for their domestic needs.