Chief Minister Y.S. Jagan Mohan Reddy has directed the officials to create awareness on the benefits of the One-Time Settlement (OTS) scheme for housing loans.
In a review meeting on YSR Jagananna Colonies and YSR Jagananna Sampoorna Gruha Hakku scheme on Wednesday, Mr. Jagan Mohan Reddy said the OTS scheme was optional and houses would be registered with clear titles.
He said the government would be waiving off housing loans amounting to ₹10,000 crore availed by the poor, and get the registrations done free of cost.
He said the beneficiaries would get legal rights on the properties, and alleged that some vested interests were obstructing the implementation of the scheme.
Mr. Jagan Mohan Reddy said the previous government did not consider proposals to waive interest on housing loans.
Approximately, 43,000 people had paid the principal and interest amounts during the previous government’s tenure. However, only B-form pattas were given to them.
The beneficiaries of OTS scheme would be able to mortgage or sell their properties.
The officials informed the Chief Minister that they had issued orders to remove Section 22-A and cancel stamp duty, transfer duty and user fees for the OTS scheme beneficiaries, and that the registrations were being done in the village / ward secretariats.
Housing Minister Ch. Sriranganatha Raju, Chief Secretary Sameer Sharma and Municipal Administration and Urban Development Department Special Cheif Secretary Y. Srilakshmi were among those present.
