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Saphalyam to be inaugurated on Monday

THIRUVANANTHAPURAM: The state-wide inauguration of Saphalyam project which promises housing for the underprivileged, announced in the past budget, will be held on March 11 at Akalakunnu Pancha

Published: 10th March 2012 06:44 AM  |   Last Updated: 16th May 2012 06:32 PM   |  A+A-

THIRUVANANTHAPURAM: The state-wide inauguration of Saphalyam project which promises housing for the underprivileged, announced in the past budget, will be held on March 11 at Akalakunnu Panchayat Hall in Kottayam.

Addressing a press conference here on Friday, Finance and Housing Minister K M Mani said that Chief Minister Oommen Chandy would inaugurate the project, which would be implemented in seven districts in the first phase.

“In the first phase, 1,008 flats will be constructed at a cost of Rs 30 crore in 10 villages of seven districts. Each flat is estimated to cost Rs 2.50 lakh each, of which, the State Government will give Rs one lakh. Hudco too will give a loan of Rs one lakh. The beneficiary will have to put in Rs 25,000 and the same amount will be borne by voluntary organisations,” said Mani.

He said that the first preference would be given to women and the loan interest rate is fixed at 10.5 per cent. Flats will be built in Kollam -Chathanoor (48), Alappuzha- Chettikulangara (168), Kottayam - Meenachil (72), Akalakunnam (240), Erumeli (96), Thrissur - Puthucadu (72), Idukki - Kattapana (72), Kozhikode - Chelanoor (72), Malappuram - Thiruvali (72) and Palakkad (96). Mani said that the project would cover other districts in the second phase.  The function will be attended by Revenue Minister Thiruvanchoor Radakrishnan, Chief whip P C George and Jose K Mani MP, among others.



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