BRS unveils home loan interest subsidy scheme for Telangana’s middle-class

The Bharat Rashtra Samithi (BRS) has announced a new scheme in which the Government would bear the interest component of the home loans to be availed by the middle class people who are aspiring to buy apartments in the range of 1200 sft to 1500 sft.

The new scheme, announced by the BRS working president and minister K T Rama Rao will be a component of the Housing for All initiative by the party. The party president and Chief Minister K Chandrashekhar Rao was working out modalities for the new scheme, which will be implemented in parallel to the existing double bedroom housing and Gruha Lakshmi programmes, Rama Rao announced here on Friday.

Elaborating on the new scheme, he said the “interest subvention” would be extended to middle income group people, who wish to buy 1200 square feet to 1500 square feet flats. If they can afford to take loans, the interest component would be borne by the government, he said in his address at the Real Estate Summit 2023.

Having addressed the basic issues of supplying sufficient power, drinking water and irrigation requirements in the first two terms, the BRS government’s focus in the next term would be on achieving 100 percent literacy rate. This apart, emphasis would be on urban flood management system and underground drainage system, he said.

During the one hour presentation, the BRS working president shared his vision for growth of Telangana, especially for the next 10 years.

“Let us go from being good to great. Like the 24-hour power supply, the target is to provide 24-hour water supply. This apart, Hyderabad Metro Rail network will be expanded to 415 kms in 10 years in three phases” Rama Rao said.

Stressing on the importance of Rapid Rail Transit System (RRTS), he said the 150 kmph speed trains would be operated from Hyderabad to different tier II cities. For instance, the 250 km distance between Hyderabad and Vijayawada can be covered in RRTS



within short time. This would augur well for both Telugu States. Similarly, a few corridors have been identified covering nearly 790 kms, he explained, adding that it would decentralize growth and de-congest Hyderabad.

The BRS working president also shared his plans of developing satellite townships spread in 500 acres to 1000 acres. Under the Satellite Township Policy, these satellite townships would be equipped with schools, hospitals, malls and other social infra.

Asserting that Hyderabad should be developed to a stage of hosting the Olympics in 2036, the BRS working president said it was foolish to think that Hyderabad would run on auto pilot mode, irrespective of any government in power.

According to Anarock report, Bengaluru’s real estate sector witnessed a dip of 28 per cent soon after Congress came to power in Karnataka. To avoid such a slump, Telangana needs stable government and able leadership, he stressed.

Reminding the builders and developers that the Chief Minister had issued eight government orders in a day after hosting a day-long meeting with them in the past, he asked “Will such decisions be taken if a Chief Minister is changed for every six months? They will have to seek approval from New Delhi for every proposal”

Dismissing the opposition parties’ campaign to seek change in the State, the BRS working president said “Change has already been ushered in and Telangana is ranking number one in many sectors in the country”

Responding positively to the builders’ and developers appeal, he assured that an Expert Consultative Committee would be constituted to address any minor snags in Dharani portal.

“Due to Telangana’s booming real estate, you (builders and developers) are enjoying holidays once in three months. If you wish this to continue, then don’t give us (BRS government) holidays,” Rama Rao said leaving the audience in splits.