February 28Andhra Pradesh Chief Minister YS Jagan Mohan Reddy on Monday launched an initiative to provide loans to the One Time Settlement (OTS) beneficiaries of the Jagananna Sampoorna Gruha Hakku Scheme, a housing scheme for the poor. Speaking after formally launching the initiative at a review meeting held in Amaravati, the Chief Minister said loans would benefit the OTS beneficiaries to a greater extent. The loans are being extended by Chaitanya Godavari Grameena Bank which operates in Guntur, Krishna, East Godavari, and West Godavari districts. The beneficiariesin Guntur Corporation had paid ₹20,000, got clear titles for their property without any litigation, and they mortgaged the property again and obtained a loan of ₹3 lakh. “This money will help their families to prosper further,’‘ Reddy said, adding that this was a “clear example” of the benefits of the Jagananna Sampoorna Gruha Hakku Scheme.

Waivers and exemptions

Debts worth ₹10,000 crore of the poor who got housed under the scheme were waived off through the OTS scheme, and another ₹1,600 crore has been further benefited by stamp duty exemptions, the Chief Minister said.  T Kameswara Rao, Chairman, Chaitanya Godavari Grameena Bank which has extended the loans, said ₹11,75,000 was being given to four beneficiaries under the scheme to begin with. There were about one lakh OTS beneficiaries in each of the four districts that are under the limits of the bank. 

V Brahmananda Reddy, Convenor, State Level Bankers’ Committee, Andhra Pradesh said that the State government has been providing clear titles under the Jagananna Sampoorna Gruha Hakku scheme besides facilitating loans to small scale traders, vendors and self-employed.