THIRUVANANTHAPURAM: The state government has given sanction to release an amount of Rs 6 crores towards the payment of interests against the first installment of Rs 375 crore loan from HUDCO. The interest needs to be paid by February 28.The government had availed two loans amounting to Rs 4000 crores from HUDCO through KURFDC for LIFE mission . The interest for the loan amount is met from the plan provisions earmarked in the annual budget by government each year.An amount of Rs 200 crore was provided in the current fiscal through supplementary demand for grants. HUDCO had released the first installment of loan of Rs 375 crores for rural sector in January 2019. The amount was transferred to local bodies by KURFDC. Out of 1,36,000 beneficiaries 99,000 is in General category and 36,000 in SC/ST/PBC/PH/women aged above 35 years category. The interest against Rs 375 crores is worked out as Rs 5.97 crores based on interest rate of 9.75% for SC/ST/OBC/PH/women aged above 35 years and 9.9% for general category. KURFDC had requested an amount of Rs 10 crores to be released anticipating release of one more installment.The state government has exempted stamp duty and registration fee for the land purchased by individuals who buy land on their own with no government grant under LIFE housing mission

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