G.O. (Ms) No.108, Indira Awaas Yojana Loan Repayment Sanction, 2014
The Rural Development and Panchayat Raj (CGS.1) Department issued Government Order (Ms) Number 108 dated 28 August 2014, sanctioning Rs.44,14,63,999 for principal repayment and interest on a Housing and Urban Development Corporation loan obtained through the Tamil Nadu Rural Housing and Infrastructure Development Corporation for the Indira Awaas Yojana State Share in 2014-2015. It is a government financing and budget reappropriation measure and does not set out any change to private land ownership, registration or title.
Purpose
Government Order (Ms) Number 108 dated 28 August 2014, issued by the Rural Development and Panchayat Raj (CGS.1) Department, provides funds to service a loan used for the Indira Awaas Yojana State Share. The loan was obtained from the Housing and Urban Development Corporation through the Tamil Nadu Rural Housing and Infrastructure Development Corporation.
An earlier government approval allowed a loan of Rs.746.10 crore, with a government guarantee and annual budget support for principal and floating interest. A separate earlier sanction provided Rs.5,72,53,479 for interest for the first quarter of 2014-2015.
Amount sanctioned
Government Order (Ms) Number 108 sanctions a total of Rs.44,14,63,999 for 2014-2015. The amount is divided as follows:
- Rs.25,72,75,862 for repayment of principal.
- Rs.18,41,88,137 for payment of interest.
Both amounts are classified as grants in aid for debt servicing under the rural housing budget. Payment is to be made to the Housing and Urban Development Corporation through the Tamil Nadu Rural Housing and Infrastructure Development Corporation.
Budget arrangements
Government Order (Ms) Number 108 authorises the required money to be provided through reappropriation in the Revised Estimate or Final Modified Appropriation for 2014-2015.
- Rs.18,41,88,000, stated in thousands in the budget table, is reappropriated from the account for construction of houses for other backward classes.
- Rs.25,72,76,000, stated in thousands in the budget table, is reappropriated from the account for construction of concrete houses for Scheduled Castes.
- Pending formal provision of the funds, the Commissioner of Rural Development and Panchayat Raj in charge is authorised to incur the expenditure.
The Finance Department concurred with the sanction on 28 August 2014.
Who is affected
Government Order (Ms) Number 108 mainly affects the Rural Development and Panchayat Raj administration, the Tamil Nadu Rural Housing and Infrastructure Development Corporation, and the Housing and Urban Development Corporation. District Collectors except Chennai and Project Directors of District Rural Development Agencies received copies for administrative purposes.
Property buyers and owners are not given any new obligation or property right by the document. It contains no provision changing land classification, ownership, title, registration or individual housing eligibility.
This summary is generated from the source document to help you find what is relevant. The PDF above is authoritative. For advice on your own property, use LandLens One or speak to a qualified professional.
Common questions
Does this government order affect my land title or property registration?
No land title, ownership, registration or land classification change is stated. Government Order (Ms) Number 108 is a financial sanction for repayment of a rural housing scheme loan.
How much money was sanctioned under Government Order (Ms) Number 108?
The Rural Development and Panchayat Raj (CGS.1) Department sanctioned Rs.44,14,63,999, consisting of Rs.25,72,75,862 for principal and Rs.18,41,88,137 for interest.
Who receives the loan repayment?
The payment is made to the Housing and Urban Development Corporation through the Tamil Nadu Rural Housing and Infrastructure Development Corporation.
Does the document identify individual Indira Awaas Yojana beneficiaries?
No. Government Order (Ms) Number 108 deals with loan servicing and budget reappropriation and does not name individual beneficiaries or set out individual eligibility.
