VIJAYAWADA: Chief Minister YS Jagan Mohan Reddy will be formally launching ‘Jagananna Sampoorna Gruha Hakku’ (One-Time Settlement scheme) in Tanuku of West Godavari district on Tuesday. Under the scheme, registration with full rights on their houses would be given to over 52 lakh beneficiaries. The State government brought this novel initiative, where all the loans and their interest on the government-sanctioned homes would be waived off and provide full right over the property with just a nominal amount, even those properties that cost up to Rs 20 lakh.
“Under the OTS scheme, the government will be providing permanent ownership to the beneficiaries for their houses constructed under various government schemes, at an expenditure of Rs 16,000 crore, including the loan waiver and exemption of registration fees,” the release said.
As part of the scheme, the government is waiving off the principal and interest amounts to the tune of Rs 10,000 crore of 40 lakh beneficiaries who availed of loans from the AP Housing Board Corporation since 2011. The scheme was made totally voluntary.