One-time settlement for home loans

IMPORTANT DECISIONS OF THE AP CABINET MEETING: The Andhra Pradesh State Cabinet, led by Prime Minister YS Jagan Mohan Reddy, made several key decisions on Thursday, including approving the One-Time Settlement Plan, the YSR AASARA program and providing an additional loan of Rs 35,000 for SHG women housing construction.

Minister of Information and Public Relations Perni Venkatramaiah told the media after the Cabinet meeting that the Cabinet had approved the One Time Settlement (OTS) program for borrowers from Andhra Pradesh Housing Corporation Limited, which borrowed from 1983 to August 15, 2011 A one-off settlement in rural areas is set at 10,000 rupees, 15,000 rupees in communities, and 20,000 rupees in businesses. Borrowers will be able to avail the OTS program by paying the prescribed amount by December 15, and Treasury officials will register the country for OTS program beneficiaries on December 21, 2021, he said.

If someone took out a loan from AP Housing Corporation and built the house and sold it due to personal emergencies, the buyer can also register the property provided they are also poor and do not own a house and add that amount in for OTS in such cases Rs 20,000 in rural areas, Rs 30,000 in urban areas and Rs 40,000 in business. He said if everyone who took the land from the government and built the house themselves, the government will register their houses for free. The minister said cabinet approved an additional loan of Rs 35,000 to beneficiaries of residential programs that are also part of support groups, at a rate of 3%.

Cabinet also approved the release of the second tranche of the YSR Asara program, adding that women in 8, o, o42 support groups will receive rupees 6,470.76 billion in financial assistance. He said that eligible beneficiaries who were neglected in the first tranche of the YSR Aasara program will receive financial assistance in two tranches in the second term.

He said the state cabinet had also agreed to take further action with the Solar Energy Corporation of India to implement a 10,000 MW solar power project to keep farmers sustainable with 9-hour daily electricity for the next 30 years at a cost of 2.49 rupees to supply per unit.

The minister said the cabinet had approved the implementation of a partial plan for minorities on par with SC, ST and BCs for the benefit of minorities across the state.

He said the cabinet also had the proposal from Microsoft Corporation (India) Pvt. Ltd. to qualify students in the state to use Microsoft’s expertise in technology and education to train 1,62,000 college students and unemployed youth at over 300 colleges and skill development centers in 40 certification courses.

He said the cabinet had approved the naming of schools and hospitals after donors, adding that the donation amount would be Rs 50 lakh for satellite foundation schools, Rs 1 crore for elementary schools and Rs 3 crore for high schools and Rs 1 crore for that Primary Health Center should be Rs 5 crore for community health center and Rs 10 crore for area hospitals for being named after them. He said the cabinet also approved the 1940 amendment to the Drugs and Cosmetics Act.

The minister said the state cabinet had approved the transfer of 15 hectares of government land in Ajjivalasa village, Araku Valley Mandal, Vishakapatnam district in favor of the tribal welfare office for the construction of the Ekalavya model housing school, adding that the cabinet also allocated 53 , 45 hectares of land in the village of Masapeta, Rayachoti-Mandal, to the Yogi Vemana University for a PG center.

He said the cabinet had also approved to allocate 4.59 hectares in Putlampalli village, Kadapa to the LV Prasad Eye Institute and 2 hectares in Adavitakkellapadu in Guntur Westmandal to a renowned badminton player for the establishment of a badminton academy. He said cabinet approved to allocate 223 acres in Edavalli village, Chilakaluripeta Mandal to AP Mineral Development Corporation Limited and 0.31 acres in Rajamahendravam city to Minority Welfare Department for the construction of a meetinghouse and educational facility. He said the cabinet approved the AP Forster Care Guidelines in 2021.

The minister said cabinet approved the expansion of the Punganuru branch canal from 79,600 km to 220,350 km as part of the HNSS project phase 2 of the Rayalseema drought control project at a cost of Rs.1929 billion to relax FRBM norms.

He said cabinet had also approved the creation of a new law and order police station in Kasinayana Mandal, YSR Kadapa district, and the establishment of a new agricultural polytechnic in Thogaram village, Amadalavalasa Mandal, Srikakulam district.

He said cabinet approved the establishment of the AP state organic certification agency and approved funding of Rs 1.50 crore. He said the cabinet had also approved the creation of Badvel as a new ten-mandate sales department.

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