The Hindu Business Line : TNHB recovery drive yields results

IT is a recovery drive from an unexpected quarter. The Tamil Nadu Housing Board (TNHB), which had hitherto sent notices to the defaulting allottees demanding payment of arrears, has now plunged into action by knocking on the doors of the defaulter to recover its dues.

The effort, aimed at rebuilding the financial position of the board has started yielding results. The collections, according to TNHB sources had improved significantly in the last one-month.

In Coimbatore alone, the Board was able to recover Rs 97.50 lakh during July, which was not just the current demand but the pending arrears as well.

The door-to-door recovery campaign is a clear signal to the flat and individual house allottees, under both — the hypothecation and monthly instalment scheme — that the Board would no longer tolerate any default in remittances.

To strengthen its drive, all staff including engineers has been roped in and realisation targets fixed. That is not all. The staff has been told very clearly that they would have to go without the pay if they failed to achieve the targets.

The focus primarily is in not allowing the current demand to turn an arrear besides pressing for recovery of pending dues. The realisations are being monitored on a weekly basis.

Considering the significant response to the recovery drive in the last one-month, board sources are confident of getting back sizeable amounts from the defaulting allottees within a short period.

The amount realised through this State-wide drive, board sources say, would be utilised in repayment of its dues to financial institutions, which have been the funding agency in the first place in promoting such ventures.

The board has for the time being put on hold any new construction activity and is looking at disposing of the unsold properties. The construction and maintenance staff has been redeployed in the revenue realisation drive. Sources point out that this is the first time that such an effort had been initiated by the board.

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