Mysuru: In a first of its kind in the state, the Mysuru City Corporation (MCC) organised a day-long Loan Mela for beneficiaries of 1,440 houses being built by it under the AHP (Affordable Housing in Partnership) scheme at Lalitadripura in the city outskirts, at Town Hall here today.

Under the Pradhan Mantri Awas Yojana (PMAY), the MCC is building 1,440 AHP houses using shear wall technology in S+9 type model on a 13 acre and 5 Guntas area at Lalitadripura. Out of the total 1,440 houses, 500 are meant for beneficiaries from Varuna Assembly segment and the rest 940 for beneficiaries from K.R. Assembly segment. The project is taken up at a cost of Rs. 202.82 crore (including GST). The cost of each House (Unit) is estimated at Rs. 13.44 lakh, with the Central Government providing a subsidy of Rs. 1.50 lakh and the  State Government, a subsidy of Rs. 1.2 or 2 lakh to each of the beneficiaries, depending upon the category they belong to. The beneficiaries, on their part, will have to pay Rs. 9.94 lakh or Rs. 10.74 lakh. The MCC had organised this Loan Mela for extending loans to the beneficiaries to pay their share towards the cost of houses.

This Loan Mela is said to be the first of its kind to be conducted by an Urban Local Body in the state.

The works on the housing project was launched on Mar. 13, 2023, with Jampana Constructions Pvt. Ltd. being the contractor. The project is expected to be completed by next year.

K.R. MLA T.S. Srivatsa, MCC Commissioner Shaikh Tanveer Asif, Lead Bank Manager Krishnamurthy and other officials were present.