The Punjab State Federation of
Cooperative House Building societies Ltd., known as "HOUSEFED" WAS ORGANIZED ON
17.11.1970 to tackle the problem of houseing in the Punjab State, by providing financial
assistanceto the individuals for construction of houses in rural and urban areas. Any
individual desirous of taking housing loan is enrolled as member of a cooperative house
building society already existing in that area. At the time of its inception with a
membership of 33 cooperative house building societies, the Federation manned by three
staff members could not start functioning till August, 1973. During the year 1973-74 only
Rs.4.47 lacs were sanctioned to cooperative house building societies. Since then Housefed
has never looked back and has continued to gain strength , with a total membership of 462
cooperative house building societies, has disbursed Rs.366.78 lacs for the constructions
of 83400 houses through its 13 district offices and H.O manned by about 403 staff members
functioning at various levels. Besides advancing loans the Federation has also undertaken
the construction work of multi storeyed group housing complexed and has successfully
completed two complexes at Mohali, two at Ludhiana and one at Bhatinda consisting of 888
flats and development of 495 plots of various sizes so far. All the flats and plots have
been allotted and possession to its allottees have been given.
Objectives
To grant loan to the members of
cooperative house building societeis in the state of punjab both in urban as well as rural
areas for construction of their new houses against the security of immovable property.
To acquire and develop land for the
benefit of housing programme in the state.
To grant loans and advances for making
repairs, additions, alterations or improvement to existing houses/flats/apartments of the
members of cooperative house building societies both in urban and rural areas.
Future Plan
Advancement of laons amounting to
rs.55.00 crores, 60.00 crores respectively during the current year 2000-2001 and next two
financial years of 2001-2002 and 2002-03 especially in rural areas.
Construction work at new projects at Amritsar, Ludhiana, Jalandhar willbe completed during
2001-202. It is expected to construct 96,84 and 144 number of houses/flats at Amritsar,
Jalandhar andLudhiana under different phases which is likely tobe completed during the
next two financial years i.e 2001-02 and 2002-03 inclusive of Kapurthala project.
Step towards Modernisation
The organisation is yet to
computerise its working. However, steps have been taken for the installation of the same
at the earliest, keeping in view the ever increasing busness of the federation. Detailed
study is being made in this respect in order to find the areas where the computerization
is in utmost need to cope up with the maintenance of data especially in Accounts regarding
disbursement and recovery of loans as the same has already increased manifold during the
last four to five years.
Thrust Areas
Advancement of loans in every nook and
corner of rural areas of the state.
Construction of modern cooperative housing complexes in all major cities of the state as a
model projects.
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