AP govt to raise Rs. 4,500 cr Hudco loan for TIDCO houses
Minister Narayan informs Assembly that the NDA govt resumed work at 163 sites, completing 51 projects and progressing on 112, with Rs 280 cr paid to contractors in four months
Vijayawada: The state government will borrow Rs 4,500 crore from Hudco for the timely completion of housing projects for the poor under the Andhra Pradesh Township and Infrastructure Development Corporation (APTIDCO) project, said minister for municipal administration and urban development P Narayana/
Replying to a question from MLAs during question hour in Assembly on Thursday, Narayana accused the previous YSRCP government of reducing the allocation of TIDCO houses and leaving thousands of houses unfinished.
Between 2014-19, permissions were given for 7.01 lakh houses and tenders were called for 5.14 lakh houses. But the previous YSRCP government later reduced the number to 2.61 lakh leaving many houses incomplete.
Since the NDA government assumed office, work had resumed at 163 sites. Of these, 51 project have been completed while another 112 are in progress, the minister said. He added that Rs. 280 crore has been paid to contractors over the last four months. He said that Rs 6,139 crore is needed to complete the entire project. Of this, Rs 3,664 crore are for arrears, Rs 2,100 crore for ongoing works, and another Rs 375 crore in refunds.
To reduce this, the minister explained that Rs 4,500 crore will be collected through HUDCO loans to clear arrears to the contractors and timely completion of the project. The minister said that the arrears will be paid to the contractors as soon as this loan is received. Narayana told Assembly that MLAs have been requested to handover the completed houses beneficiaries every Saturday.
