Housing and Urban Development Corporation Limited (HUDCO)

Since 2006-07 Planning Commission had approved the pattern of plan funds especially for Negotiated loan process with financial institutions like NABARD, HUDCO and REC. Based on the approval of Planning Commission’ pattern of plan funds, Government of Puducherry had conducted HUDCO in 2008-09 for infrastructure development of temple town of Thirunallar at Karaikal at an estimated cost of Rs.146.00 crores with floating rate of interest at 13.75% per annum. Public Works Department was nodal department for implementation of TTT work at Karaikal. Previously, necessary agreements were entered into between Government of Puducherry and HUDCO on 17-03-2007 and on 24-11-2008. The following major components have been accorded for the above projects:

1. Inner ring road
2. Strengthening of local roads
3. Construction of new building for school which is in project area
4. Bus terminal
5. Revitalisation of Nallankulam
6. Queue Complex
7. Rejuvenation of sacred ponds
8. Parking and pilgrim facilities
9. Accommodation facilities
10. Shopping and restaurants
11. Land acquisition

The proposed plan basically calls for the development of an outer ring road and inner ring road around the temple premises. Tollgates and Tourist Information Centres are to be provided at the extremities of the outer ring road and eastern and western side of the present town. They will be provided with parking lots. Transport infrastructure such as bus stand with dormitories, railway station and accommodation facilities are to be developed near each other to have multi modal transport access to Thirunallar. The inner ring road will encapsulate the temple complex and its four car streets and much of the present habitation of Thirunallar town. This requires large land acquisition. The core area of the temple with four car streets will be the subject of extensive relocation and redevelopment especially all the seven ancient Tanks surrounding the temple. The roads of the car streets should be clear from encroachments. There is also a relocation programme for those who are affected by the changed use of land around the temple precincts.

 Subsequently, during the Annual Plan 2009-10, HUDCO had approved in principle for sanction of loan assistance of Rs.130.00 crores to Government of Puducherry for construction of Economically Weaker Section houses for SC/ST beneficiaries to the Department of Adi Dravidar Welfare with subject to following terms:

• 15 years repayment period
• Rate of interest will be as per weighted average rate of interest on cost of housing(EWS-SC/ST) & Infrastructure components on Government lending rate(loan upto Rs.75,000 per house will be as per EWS interest rate)

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