Hyderabad, Dec 1 Telangana Chief Minister A. Revanth Reddy on Monday urged the Housing and Urban Development Corporation Limited (HUDCO) to provide loans at lower interest rates for the key development projects launched by the state government.
The request came as HUDCO Chairman Sanjay Kulshrestha met the Chief Minister here.
According to the Chief Minister’s Office (CMO), the Chief Minister appealed to the HUDCO Chairman to provide loans at low interest rates for the construction of prestigious projects - Bharat Future City, Hyderabad Metro Rail extension, Regional Ring Road (RRR), and Radial Roads.
Briefing the HUDCO Chairman about the construction of greenfield roads from the Bharat Future City to Chennai via Bangalore and Amaravati, greenfield highway to Bandar Port and the bullet train, CM Revanth Reddy also brought the issue of loan restructuring (loan reconstruction) to his attention and the high interest rate on the loans taken by the government in the past. The Chairman responded positively to address the issue of the payment of high interest rates on the loans, the CMO said.
Considering the fast-paced growth of the state, CM Revanth Reddy requested the HUDCO Chairman to provide loans at lower interest rates for new projects.
Kulshrestha informed the Chief Minister that loans have already been sanctioned for Indiramma houses and also responded positively to the request for the immediate release of loans for the construction of another 10 lakh houses.
On this occasion, the CM invited the HUDCO Chairman to attend Telangana Rising 2047 Global Summit to be held at Bharat Future City on December 8 and 9.
Revenue Minister Ponguleti Srinivas Reddy, Chief Secretary K. Ramakrishna Rao, Secretary to the CM K.S. Srinivasa Raju, Principal Secretary, Finance, Sandeep Kumar Sultania, Special Chief Secretary Vikas Raj, Housing Department MD Gautam, HUDCO Regional Chief P. Subhash Reddy, HUDCO Joint General Managers Ashish Gundala and Syed Rahimuddin and others participated in the meeting.
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