CHERUTHONI: A year ago, Paul Varghese Veezhavelil, a UP school teacher at Maniyarankudi Government School near Vazhathoppu in Idukki district, was a happy man. The construction of his house in his 2.5-acre plot at Vimalagiri near Cheruthoni was nearing completion and his two sons were studying medicine. Today, he stays in a rented house at Kothamangalam and is running from pillar to post to wriggle out of a debt trap. Reason: A devastating landslide swept away his newly constructed house.
Paul’s agricultural land located in a sloppy terrain had slid down by around 10 ft and the foundation of the house gave away, breaking the building into two. Now there is no solution other than demolishing the Rs 42-lakh structure which was built spending his lifetime savings and availing of a Rs 20-lakh bank loan. The sight was so heart-wrenching that the 53-year-old teacher never returned to his farmland after the tragedy. “I don’t want to see the damaged structure. Cracks have developed around the landslide spot and with another rain, the whole area, including the road, will be washed away.
All my dreams were shattered in a moment. We are surviving because I am a government school teacher. The debt is mounting and I am searching for a five-cent plot to avail of the government compensation to build a house,” Paul’s voice choked and words got stuck in his throat as he struggled to hold back his tears.
Paul had insured his house for Rs 60 lakh and though the insurance company raised objections in the initial stages, they sanctioned Rs 30 lakh as compensation. Though the state government has declared a moratorium on loans availed of by flood victims, the bank deducted Rs 20 lakh from the compensation and closed the loan immediately after the compensation got credited in his account.
“The bank also deducted Rs 3 lakh to close my agricultural loan, without informing me. They undervalued the education loan availed of by my two sons who are doing house surgency. The repayment holiday ends only in 2021, but the bank has held back the Rs 8.5 lakh balance left in my insurance compensation,” said Paul.
The teacher is now planning to approach the banking ombudsman seeking to release the compensation balance, which will help him build a small house.