Even as the government comes up with schemes to finance cash-strapped developers to complete the construction of about 3,500 Slum Rehabilitation Authority (SRA) projects in the city, the builders hardly seem to be interested. It has been two months since the easy loan-granting scheme was launched, but there are less than five developers who have shown interest in it. In October, the state government had come up with a scheme to fund the construction of SRA projects through Shivshahi Punarvasan Prakalp Limited (SPPL). For this, it had also joined hands with State Bank of India to make loans easily available for the sale component. For developers, the stringent conditions for securing the loan would mean redrawing the entire sale component plan, which has turned out be the biggest roadblock for this scheme to take off.

According to the scheme, the developers have to construct 60 per cent of their sale component as affordable housing stock. Representational Image