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In the heart of Andhra Pradesh, 8,912 low-cost flats have been realized over the past four years, valued at an estimated Rs 178 crore. Spanning nearly 77 acres of land in the Gudivada town of the Krishna district, this new development known as the TIDCO housing colony is now set to be unveiled by Chief Minister YS Jagan Mohan Reddy on Friday.
The ambitious project aims to benefit lower-income households, offering the constructed flats for just Rs 1, according to Kodali Sri Venkateswara Rao (Nani), a former minister and local legislator. The initiative is a significant step forward in the government's ongoing efforts to increase access to affordable housing.
In addition to the TIDCO development, construction is also underway for another 4,500 homes on an adjacent site. The government has further pledged an expansive 7,728 plots spanning nearly 178.63 acres under the Pedalanadiki Illu Navarathnalu scheme. With close to 45,000 homes in the pipeline, the rapidly expanding neighborhood will be christened the YSR Jagananna housing colony.
Housing Minister Jog Ramesh emphasized the scope of the project, noting that they have completed almost 1,43,600 flats, each 300 sqft, granted to the beneficiaries for just Rs 1. He revealed that these efforts have provided a relief of approximately Rs 9,406 crore to women beneficiaries.
In contrast to the previous scheme implemented by the Naidu administration, the current government has removed the monthly 3,000 fee payable by the poor women beneficiaries for 20 years. The present leadership, under the Chief Minister, has also introduced a 50% rebate on the upfront cost for 365 sqft and 430 sqft houses.
As part of this discount, the government will offer Rs 25,000 and Rs 50,000 to each beneficiary of the 365 sqft and 430 sqft TIDCO houses respectively. This gesture will amount to an additional investment of Rs 482 crore to facilitate the ease of homeownership for the 44,304 beneficiaries of the 365 sqft homes and 74,312 recipients of the 430 sqft homes.
In conclusion, the Andhra Pradesh government is making strides in its mission to increase affordable housing availability. With the formal handover of more than 8,900 homes and the ongoing construction of thousands more, the region's low-income residents can look forward to secure and cost-effective homeownership.
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