Residential Projects by Orissa Cooperative Housing Corporation - 5485833

The Odisha Co-operative Housing Corporation (OCHC) Ltd., Bhubaneswar, established in 1955, is the first housing organisation in the State and the second Apex Housing Co-operative Society in the country. The prime objective of the Corporation is to provide housing loans to the Members through its affiliated House Building Primary Cooperative Societies in the urban as well as the rural areas. For this purpose, OCHC is availing loans from the L.I.C, HUDCO and the State Govt. Housing Cooperative Sector has a two tier structure with Odisha Coop. Housing Corporation at the apex and 108 Primary House Building Cooperative Societies. These societies provide long term loan to members for construction and purchase of residential houses, flats and core houses. With the loan assistance of these societies, 12696 housing units have been constructed by the members under L.I.C. Loan and assets have been created. Besides the Odisha Coop. Housing Corporation was entrusted with the responsibility for implementation of credit cum subsidy scheme of Panchayati Raj Department. Under this scheme loan of Rs. 10,000/- has been given to each identified beneficiary for construction of low cost house. Subsidy of Rs. 10,000/- is provided after completion of construction in phases, Rs. 5,000/- each after construction up to plinth level and Rs. 10,000/- after roof level. Loan assistance of Rs. 12.82 crores has been provided to 7073 beneficiaries, out of which 4276 housing units have been completed.