No subsidy, Karnataka government plans to pay housing loan interest

News Network
November 27, 2019

Bengaluru, Nov 27: The state government plans to revisit existing affordable housing schemes that offer subsidies on home loans and replace them with interest-free home loans.

This is part of the government’s mission to promote PM Modi’s ‘housing for all’ scheme. The government plans to build 19 lakh houses in 30 months.

If everything goes to plan, the government will do away with existing housing subsidies and pay the interest on principal of up to Rs 12 lakh in urban areas and Rs 6 lakh in rural areas.

As per the draft, beneficiaries must repay only the principal to banks. The state will bear the interest for a period of 15 years (maximum loan tenure). The government will pay interest of 6.5% a year on the Rs 12 lakh loan (urban areas) and 8% a year on the Rs 6 lakh loan (rural areas).

Loans for houses under three models

Any principal or interest above the limit will have to be borne by the beneficiary. The houses will have carpet area ranging between 330sqft and 450sqft. Karnataka Housing Board, urban local bodies, Nirmithi Kendras and Karnataka Road Infrastructure Development Corporation and empaneled units will be the implementing agencies.

The loans will be offered under three models. First, loans will be provided by combining Rs 6 lakh from the central government and Rs 6 lakh from the state under Pradhan Mantri Awas Yojana in urban areas and Rs 6 lakh in rural areas.

The second is the public-private partnership model. Under this, the government and private agency will share sites on developed land and the beneficiaries will buy the developed house or construct their own through an association formed by them.

If the beneficiary opts to purchase a developed home which is more than the upper limit of the loan, then she has to pay remaining amount.

In the third model, a private agency will develop the land and hand over a 50% share of the land to the government, which will distribute it to the beneficiaries. The state has sought to increase the financial eligibility of beneficiaries for housing scheme to Rs 3 lakh from the present Rs 87,600 in urban areas and Rs 32,000 in rural areas.

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coastaldigest.com news network
February 21,2020

Newsroom, Feb 21: Chief Minister B S Yediyurappa has claimed that Amulya Leona, who raised pro-Pakistan slogans at a pro-India event in Bengaluru, had links with Naxalites.

The 19-year-old B.A. student was arrested on sedition charge after she raised pro-Pakistan slogans at a peaceful protest against the Citizenship (Amendment) Act in Bengaluru yesterday.

"Bail should not be given to Amulya. Her father has also said he won't protect her. It’s proved now that she had contacts with Naxals. Proper punishment should be given," Yediyurappa said in Mysuru today.

All India Majlis-e-Ittehadul Muslimeen (AIMIM) chief Asaduddin Owaisi, who snatched mike from Amulya’s hand, said that her slogans only helped Bharatiya Janata Party and those who are trying to suppress people’s movement against racism and communalism.

Interestingly, Amulya hails from a family which has close association with Sangh Parivar. Her father Wazi Noronha was a leader of minority of wing of BJP in Koppa taluk of Chikkamagaluru district.

He had worked in support of hardline BJP leader and Udupi-Chickmagaluru MP Shobha Karandlaje, and D N Jeevaraj, who had represented Sringeri constituency last time.

Meanwhile, a group of people attacked the house of Wazi at Gullagadde near Koppa last night. A group of Bajrang Dal activists also compelled him to shout ‘Bharat Mata ki Jai’.

Also Read: Mangaluru: VHP stages protest against ex-BJP leader’s daughter who raised pro-Pak slogans

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coastaldigest.com news network
June 23,2020

Bengaluru, June 23: A senior IAS officer allegedly, who had faced arrest in connection with I Monetary Advice (IMA) scam, today allegedly committed suicide by hanging himself at his residence in the city. 

The deceased is BM Vijay Shankar. He had been arrested by special investigation team (SIT) in the I Monetary Advice (IMA) case when he was deputy commissioner (DC) Urban Bengaluru. 

He had spent few days in the jail over his alleged involvement in the IMA scam and was released on bail. The IMA case is currently being probed by Central Bureau of Investigation.

Shankar was staying in Jayanagar near Ashoka Pillar along with his family members.

Shankar was accused of taking Rs 1.5 crore to approve a report on financial irregularities, and was accused of giving a clean chit to the main accused of IMA scam, Mohammed Mansoor Khan.

The incident came to light around 8 pm. It is alleged that Shankar ended his life around 7.00 pm, when he was alone in the house. Shankar was said to be under severe depression after his name surfaced in the scam, and his subsequent arrest.

However, the exact reason for his extreme step is yet to be identified. Tilak Nagar police have taken up the case of mysterious death under CrPc and are probing further. As of now the police officials have not found any death note. A senior officer said: "once we finish the procedures of investigating the spot his body will be shifted to Victoria hospital for post mortem. The report will find out exact cause of his death".

Police commissioner Bhaskar Rao said: "We have taken up the case of unnatural death with regard to Vijay Shankar's death. Further probe will reveal more details about it".
 

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coastaldigest.com web desk
June 10,2020

Kasaragod, Jun 10: Indian Union Muslim League leader Metro Muhammad Haji passed away at a private hospital in Kozhikode today. He was 70.

He was a well known social and political activist in Kasaragod district. He has served in the social, cultural, philanthropic and educational fields.

He was the Executive Committee Member of the Muslim League. He also served as the Kerala State Vice President of the Sunni Youth Union, and President of the Kanhangad Samyukta Jamaat.

He is survived by his wife Zuhra and children Mujeeb, Jaleel, Shameem, Khaleel, Kabeer, Suhaila and Jusaila.

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