The loan to be availed from the Housing and Urban Development Corporation (HUDCO) for the third phase of the government's LIFE housing project in urban areas will be repaid by making upfront deduction of the required amount from development grants of local bodies.
The government had last year accorded sanction for availing loan for ₹1,500 crore from HUDCO for providing houses to SC, ST, and fisheries beneficiaries on the additional list and those landless homeless beneficiaries who have acquired land.
Out of the total loan amount, ₹51.66 crore will be taken by Kerala Urban and Rural Development Finance Corporation Limited (KURDFC) for the construction of 2,583 houses in urban areas.
