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AP Govt to waive ₹10,000 crore worth home loans of poor under OTS scheme: CM Jagan Reddy

Our Bureau | | Updated on: Dec 08, 2021
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OTS amount in rural areas is ₹10,000, ₹15,000 in municipalities, and ₹20,000 in corporations

The Andhra Pradesh Government will waive off home loans of the poor totalling to ₹10,000 crore under One-Time Settlement (OTS) scheme, according to Chief Minister YS Jagan Mohan Reddy.

In review meet on YSR Jagananna Colonies and YSR Jagananna Sampoorna Gruha Hakku scheme held in Amaravati on Wednesday, he directed officials to create awareness on the benefits of the OTS scheme for house loans among people.

In September, the State government offered a One-Time Settlement (OTS) scheme to those who had availed themselves of loans from the AP State Housing Corporation (APSHC) between 1983 and 2011.

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The OTS amount in rural areas is ₹10,000, ₹15,000 in municipalities, and ₹20,000 in corporations. The loanees can avail the scheme by paying the prescribed amount up to December 15. Revenue officials will register the land for beneficiaries on December 21.The scheme had also attracted criticism from Opposition parties in the State.

“Voluntary scheme”

Speaking in the meet, the Chief Minister said the OTS scheme was totally voluntary and houses will be registered with clear titles.

The State government will be waiving off ₹10,000 crore of housing loans of the poor, registrations would be done free of cost, and beneficiaries would get legal rights on the properties, he added.

Criticisms from Opposition

Referring to criticism on the scheme from the Opposition, Reddy said “a few vested interests” have been trying to hinder the implementation of the OTS scheme which is “the best opportunity” for the poor and it is “entirely their decision to use the scheme or not.”

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He directed 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 under the previous government.

Published on December 08, 2021

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