OTS Scheme in Andhra Pradesh has been extended until 2nd April 2022

GG News Bureau
Amaravati, 22nd Dec. Andhra Pradesh Chief Minister YS Jagan Mohan Reddy has announced that the One-Time Settlement scheme will be extended until April 2nd (Ugadi day) to allow beneficiaries to register. On the occasion of the Chief Minister’s birthday, the Jagananna Sampoorna Gruha Hakku (One-Time Settlement Scheme) was launched in the State on Tuesday at Tanuku in West Godavari district.
Chief Minister YS Jagan Mohan Reddy officially launched the project by handing over the registration documents to a few select beneficiaries. From Tuesday, 8.26 lakh people who have already benefited from the scheme will receive registration decrees for government-approved homes.
Over 52 lakh beneficiaries will receive registration with full rights to their home under the OTS scheme.
A novel initiative under this scheme is that all loans and interest on government-approved homes would be forgiven.

The government will provide permanent ownership to the beneficiaries of the OTS scheme for houses built under various government schemes at a cost of Rs 16,000 crore, including loan waivers and registration fee exemptions.
The government is waiving the principal and interest amounts of 40 lakh beneficiaries who took out loans from the AP Housing Board Corporation between 2011 and now as part of the scheme.
There is no obligation to participate in the programme.

The beneficiaries receive a freehold on their home in the place of residence, which allows them to gift or pass on the inheritance to future generations while also securing the right to mortgage it as an asset for bank loans.
Beneficiaries can participate in this scheme by paying nominal fees, which range from Rs 10,000 in villages to Rs 15,000 in municipalities to Rs 20,000 in municipalities.