Southern States - Kerala-Kochi   

KSHB apartments to be auctioned

By Our Staff Reporter

KOCHI JAN.1. The Kerala State Housing Board is all set to auction two- and three-bedroom apartments built by it at Trikkakara and TD Road. One house in Edapally and 20 in Koovappady too will be auctioned in a few weeks time.

Addressing mediapersons at the Ernakulam Press Club today, the Commissioner-cum-secretary, Housing, P. M. John, said that the apartments in Trikkakara will be auctioned on January 17 and 19 and the ones in TD Road on January 2, at functions that will be organised in the respective premises. "The sale deed will be handed over once the full money is paid. We will help buyers in procuring housing loans for interest rates ranging from 7.5 to 8.5 per cent, since we have tie-ups with nationalised banks and other financial institutions. Representatives of the banks will be present at the auction venues to sanction loans on the spot. An earnest money deposit (EMD) of Rs.25,000 has to be given for each flat," he said.

The State-wide auctioning procedure began on December 29. The Board has 166 apartments, 313 houses and 21 developed plots, ready for auction. Of these, 98 apartments and 21 houses are in Ernakulam. Care has been taken to locate the apartments in places where there are no water and power problems.

Quotations can be given until a day before the sale proceedings begin or people can register their names till 11 a.m. on the day of auctioning. Representatives of people who are residing in foreign countries can participate in the auction, provided they have a written intimation from the real buyer.

Mr. John said that a default-resolution package has been given shape to and a memorandum of understanding signed with HUDCO to renew the loan scheme that had been availed by the KSHB. A one-time settlement scheme too is being readied for the benefit of buyers. Auctioning was postponed in Thiruvananthapuram after attempts were reportedly made by a group of people to buy about 10 apartments there as a block, after paying EMD for just one apartment, he said.

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