Hyderabad: Andhra Pradesh Chief Minister YS Jagan Mohan Reddy will be formally launching ‘Jagananna Sampoorna Gruha Hakku’ (One Time Settlement scheme) in Tanuku of West Godavari district, on Tuesday, where registration with full rights on their house will be given to over 52 lakh beneficiaries.
The state government brought this initiative, where all the loans and their interest on the government-sanctioned homes will be waived off and provide full right over the property with just a nominal amount, even those properties that cost up to Rs 20 lakh.
Under the OTS Scheme, the State government will be providing permanent ownership to the beneficiaries for their houses constructed under various government schemes, at an expenditure of Rs 16,000 crore, including the loan waiver and exemption of registration fees.
“The scheme was made totally voluntary, without any compulsion. The beneficiaries get a freehold of their house in the place of dwelling rights and enable them to gift or hand over the inheritance to the next generations besides securing the right to mortgage it as an asset for availing bank loans,” AP government press note said.
The beneficiaries can avail this scheme by paying nominal amounts, where Rs 10,000 in villages, Rs 15,000 in municipalities, and Rs 20,000 in municipal corporations. In case if the loan amount is lesser than the stipulated amounts, then the beneficiaries can pay the outstanding loan amount and get complete rights on their property. Similarly, people who have constructed houses in the government allotted lands with their own money and don’t have full rights can avail registration by paying just Rs 10 and securing their property.
“Post-registration, the property will be removed from the prohibited lands under Section 22 (A) and the beneficiary can carry out any legal transaction without any hassles. Also to ease the registration process, beneficiaries can register their property at the village and ward secretariats themselves without any additional cost. With this document registration, the beneficiary doesn’t require any link documents to carry out any transactions related to the property,” the press note added.