G.O.(Ms) No. 90, Indira Awaas Yojana, HUDCO Loan Conditions, 2014
The Rural Development and Panchayat Raj (CGS.1) Department of the Government of Tamil Nadu issued G.O.(Ms) No. 90 dated 15 July 2014. It accepts HUDCO conditions for a Rs.746.10 Crore Indira Awaas Yojana loan to be obtained through the Tamil Nadu Rural Housing and Infrastructure Development Corporation, including a government guarantee and annual budget support for repayment.
What the government order governs
G.O.(Ms) No. 90 dated 15 July 2014 concerns financing for Indira Awaas Yojana during 2013-14. The Rural Development and Panchayat Raj (CGS.1) Department accepts conditions prescribed by HUDCO for a Rs.746.10 Crore loan obtained through the Tamil Nadu Rural Housing and Infrastructure Development Corporation.
The financing supports a rural housing programme. The document deals with loan guarantees, repayment arrangements, beneficiary records, accounts and inspections. It does not state that it changes private land ownership, pattas, registration records or land use.
Government commitments
The Government of Tamil Nadu had already provided an unconditional and irrevocable guarantee for repayment of the Rs.746.10 Crore loan, together with interest and other charges, until full repayment.
The Rural Development and Panchayat Raj (CGS.1) Department accepts these principal HUDCO conditions:
- Government approval authorising the scheme and borrowing from HUDCO.
- A Government of Tamil Nadu guarantee before HUDCO releases the loan.
- Annual budget provision for repayment of principal, interest and other dues throughout the repayment period.
- No reimbursement by HUDCO for expenditure already incurred.
- Loan releases linked to proportionate releases from other funding sources.
Other requirements
G.O.(Ms) No. 90 directs the Tamil Nadu Rural Housing and Infrastructure Development Corporation and the Director of Rural Development and Panchayat Raj to fulfil HUDCO's other conditions. These include:
- Board approval for borrowing and enhancement of the corporation's borrowing power.
- Shareholder approval and statutory auditor certification for enhanced borrowing.
- Completion and submission of accounts for 2011-12 and 2012-13.
- Confirmation that District Rural Development Agencies hold the complete list of 122856 beneficiaries before loan release.
- Availability of beneficiary lists for HUDCO verification during inspections.
- Confirmation that beneficiaries belong to the stated economically weaker section special categories, including widows, Scheduled Castes, Scheduled Tribes, Other Backward Classes, physically handicapped persons, single women above 35 years and people in areas affected by natural calamities.
- Random HUDCO site inspections of houses in all districts before release of the second instalment.
Who is affected
G.O.(Ms) No. 90 primarily affects the Tamil Nadu Rural Housing and Infrastructure Development Corporation, the Director of Rural Development and Panchayat Raj, District Rural Development Agencies, district collectors and listed beneficiaries. Property buyers and owners are not assigned any application, payment or land record obligation in the document.
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Common questions
Does G.O.(Ms) No. 90 change my patta or land ownership?
No such change is stated. The document concerns HUDCO loan conditions for Indira Awaas Yojana and does not address pattas, private ownership or registration records.
Who is responsible for repaying the HUDCO loan?
The Government of Tamil Nadu provides an unconditional and irrevocable guarantee and annual budget provision for repayment of principal, interest and other charges.
Are beneficiary records required before the loan is released?
Yes. The District Rural Development Agencies must have the complete list of 122856 beneficiaries before release, and the list must be available for HUDCO verification.
Can HUDCO reimburse housing expenditure already incurred?
No. The accepted conditions state that HUDCO will not reimburse expenditure already incurred, and loan releases are linked to proportionate releases from other sources.
