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HOUSEFED

History

The Punjab State Federation of Cooperative House Building societies Ltd., Known as “HOUSEFED” WAS ORGANISED ON 17.11.1970 to tackle the problem of housing in the Punjab State, by providing financial assistance to 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., with a total membership of 341 cooperative house building societies, has disbursed Rs. 120583.03 Lacs as on 31.12.2014 for the constructions of 124779 houses through its 17 district offices and H.O manned by about 328 staff members functioning at various levels. Besides advancing loans the Federation has also undertaken the construction work of multi storeyed group housing complexes 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 possessions to its allottees have been given. Housefed has  constructed 96 flats at S.B.S Nagar, Phase-1 Ludhiana, 84 flats at Jallandhar, 912 flats at Banur, 580 flats at Sector 79, Mohali and 96 flats at Kapurthala has been completed.

 

Objectives

  • To grant loan to the members of cooperative house building societies in the state of Punjab both in urban as well as rural areas for construction of their new house 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.

  • To undertake construction work of other cooperative institutions on deposit work basis.

  • To provide loan to the members for the purchase of built up house/flat/apartment.

Future Plans

Housefed has already advanced a sum of Rs. 120583.03  lacs for the construction of 124779 houses & disbursed Rs. 4566.02 lacs during the year 2012-13. Loan worth Rs. 549.48 lacs has been advanced from 1.4.2013 to 31.3.2014

Construction of 912 flats at Banur and 580 flats at Mohali  has already been completed on 31.3.2014 and possession to allottees of flats at Banur will be handed over by 15.2.2015, possession of 505 flats at Sector 79, Mohali has been handed over to the allottees and possession of remaining flats will be handed over by 28.2.2015. The construction of 96 flats at Kapurthala has been completed on 31.12 2014. Draw of flat No. and Floor is being conducted shortly.

 

Kapurthala:

No.of flats

Construction cost

Date of allotment

Date of completion (extended)

Actual work executed upto 31.12.2014

%age of work completed

96 flats

18.61 crore

16.07.2010

31.12.2014

18.61 crore

100%

Banur:

No.of flats

Construction cost

Date of allotment

Date of completion (extended)

Actual work executed upto 31.03.2014

%age of work completed

912 flats

190.00 crore

18.11.2009

31.3.2014

190.00 crore

100%

Mohali:

No.of flats

Construction cost

Date of allotment

Date of completion (extended)

Actual work executed upto 31.03.2014

%age of work completed

580 flats

84.40 crore

14.8.2012

31.3.2014

84.40 crore

100%

 Step towards Modernization

The organization is yet to computerize its working.