Housing Development Finance Corporation to be set up

Published: 17th December 2012 10:38 AM  |   Last Updated: 17th December 2012 10:38 AM   |  A+A-

Aimed at providing financial assistance at affordable rates to all sections of people and house construction agencies, the State Government has decided to set up the Kerala State Housing Development Finance Corporation.

Finance Minister K M Mani said that an amount of Rs 1 crore has been earmarked for setting up this corporation.

The formation of the Kerala State Housing Development Finance Corporation was a promise in the 2011 budget.

The project envisages to pool investments from domestic and international sources, particularly from the Gulf region for the development of housing sector in the state.

Apart from this, it also envisages to promote environment friendly and cost effective constructions.

The Kerala State Housing Development Finance Corporation also looks forward to provide assistance in the cooperative sector which deals with housing. 

The State Government has mooted setting up of the Kerala State Housing Development Finance Corporation at a time when the Kerala State Housing Board is yet to come out of the deep financial crisis it is facing.  

The Chief Secretary and the secretary, Housing Department, would be the Managing Directors of the Corporation. Secretaries of the Departments of Finance, Expenditure, Law Housing and local bodies would be the promoters of the Corporation.

Stay up to date on all the latest Thiruvananthapuram news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp