Vijayawada: The Andhra Pradesh government has taken a significant step to complete the pending TIDCO houses across the state. The Housing and Urban Development Corporation Limited (HUDCO) has agreed to provide a loan to cover the total expenditure for these constructions.
Recently, HUDCO representatives met with TIDCO officials, confirming their commitment to the loans. They prepared a report on the current status of the TIDCO houses, detailing how much has been completed and the stages of construction.
HUDCO requested a detailed report on the cost required to complete the pending TIDCO houses. The initial estimate suggests that completing the remaining 117,000 houses will cost around Rs 5,070 crore. The report is expected to be submitted to HUDCO within two days.
Between 2014 and 2019, the TDP government initiated 314,000 houses. When the YSRCP government came to power in 2019, it canceled 52,000 TIDCO houses. Out of the remaining, the government promised to complete 262,000 houses but handed over only 145,000 by election time, most of which were over 90% complete during the TDP government.
The previous government’s decisions impacted loan procurement for TIDCO houses, with banks and financial institutions hesitant to provide loans. Allegations arose that future income from these houses was pledged for loans, which the RBI rejected, leading to no bank offering loans.
Officials sought a loan from HUDCO for two years before the elections but were unsuccessful. After the NDA government came to power, negotiations with HUDCO resumed. Initially, officials aimed to secure Rs 2,000 crore, but after meeting with TIDCO officials, HUDCO representatives agreed to provide a loan covering the entire construction cost. A detailed report is being prepared for this purpose.
