State government of Kerala is contemplating a proposal to provide subsidized home loans to persons belonging to economically weaker sections. This announcement was made by the Minister of Finance and Housing, Mr. K.M. Mani.
These low cost housing loans would be provided to the people having two cents of land with them. Further, a total of 750 flats and 500 houses will be made for individuals who do not posses any land, under the ‘Saphalyam' scheme of the state government. HUDCO is assisting the Kerala state government in this scheme.
As part of the scheme's first phase, about 1008 houses are being constructed in 10 chosen gram panchayats. The construction will cost about Rs. 30 crore. Another scheme of the government, the ‘Kalvara' scheme, proposes to make building materials available to individuals belonging to economically weaker sections at lower rates. The scheme is applicable across the entire state.