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                                          A.P.Housefed: Hyderabad

THE A.P. CO-OP. HOUSING SOCIETIES FEDERATION LTD. (A.P.HOUSEFED)
1-8-1/B/26, Housefed Bhavan, Baghlingampally, Hyderabad.  – 044.
Phone No. 040-27662619, 27668606   Fax: 040-27666342

Introduction:
            Prior to 1966 the Cooperative Housing Finance was implemented by the Government of Andhra Pradesh out of its budgetary provisions.  Due to stoppage of budgetary support by the Government to Housing Cooperatives, all the Primary Coop. Housing Societies in the State have come together and organised an Apex organisation namely A.P. Cooperative Housing Societies Federation Limited, Hyderabad to borrow loans from Financing Agencies and disburse the same  to the members of the Primary Coop. Housing Societies.  Thus, the A.P.Housefed was registered as an Apex Co-operative Federation under the A.P.C.S. Act, 7 of 1964 (T.A.337) on 13.12.1966 and started functioning since 1968.  Its area of operation is the entire State of Andhra Pradesh.  As on today it has got 1438 Primary Societies as Members, of which 820 are borrowing members.  The Head Office and the Hyderabad Regional Office are functioning in its own Building situated at Baghlingampally, Hyderabad and the other  (2) Regional Offices are located in rented buildings at Kadapa and Vijayawada.

Objectives :
            The main objective of the A.P.Housefed is to advance loans to the members of the Primary Housing Societies in the State of Andhra Pradesh by availing loans from Life Insurance Corporation of India, Mumbai. The loans availed from the L.I.C of India are not guaranteed by the Government of A.P. The Government of Andhra Pradesh have not given any grants/loans/subsidies to the A.P.Housefed. 
             The Primary Societies  participate in the functioning of Housefed as they elect the Managing Committee to manage its affairs,

Schemes Undertaken :
            The A.P.Housefed is financing loans to the members of the affiliated Primary Cooperative Housing Societies in the State of Andhra Pradesh under 7 Schemes for the applicants who are having permanent, regular and identifiable income . And the Schemes given below.

S.No.

Schemes

Loan Amount

Income Limits

1

L.I.G.H-I.

Rs.   75,000/-

Rs.3,501/- to 5,000/-

2

L.I.G.H-II

Rs.1,50,000/-

Rs.5001/- to 6,000/-

3

M.I.G.H.

Rs.2,00,000/-

Rs.6,001/- to 8,000/-

4

H.I.G.H.- I

Rs.3,00,000/-

Rs.8,001/- to 10,000/-

5

H.I.G.H. – II

Rs.4,00,000/-

Rs.10,001/- to 15,000/-

6

H.I.G.H. – III

Rs.5,00,000/-

Rs.15,001/- above

7

Repairs and Extensions

Rs.2,00,000/-

As per the general loaning Conditions

8

Repairs and Extensions

Rs.3,00,000/-

As per the general loaning Conditions

Borrowings & Lendings :
            As on 31.3.2011 the A.P.Housefed has availed Loans from L.I.C. of India to an extent of Rs.319.95 Crores.  As on 31.3.2011 the A.P.Housefed has disbursed an amount of Rs. 428.87 Crores for construction of 60754 new Dwelling Houses. During the year 2009-2010 the A.P.Housefed has disbursed an amount of Rs.24.19 Crores for 959 units. 

Repayment of Loans availed:
            The A.P.Housefed is regularly repaying the loans availed from L.I.C. on the date of demand and it never defaulted at any time since inception.

Loan outstanding :
            As on 31.3.2011, an amount of Rs.107.91 Crores is outstanding under principal to L.I.C of India, Mumbai and an amount of Rs.143.72 Crores is Outstanding under principal from Primary Housing Societies to Housefed.

Share Capital :
            The A.P.Housefed is having a Share Capital of Rs.1225.78 lakhs out of which the Government of Andhra Pradesh have contributed an amount of Rs.54.10 lakhs.

Rate of Interest :
               The A.P.Housefed avails loans from L.I.C of India @ 9.75% rate of interest and lends to the Primary Societies @10.75% and the Societies in turn lend to the individual borrowers @11.75%.  The Loans sanctioned are repayable in 15 equal annual installments and the interest is payable half-yearly.  The Interest is being charged on reducing balance of Principal amount.

Group Insurance Scheme :
            All members who have obtained loans from A.P.Housefed are compulsorily brought under the Group Insurance Scheme.  If the member dies during the period of loan, entire Non-overdue principal amount is being reimbursed by the L.I.C. of India.  This facility is not available in any Housing Finance Schemes.

Financial Position :
            The Federation is running on profits since inception.  As per the Final Audit Report for 2007 – 2008 the Housefed has earned a Net Profit of Rs.25.84 lakhs.   Audit for the year 2008-2009 has been completed and submitted for issue of Audit Certificate.

Profit earned.

Sl.No

Year

Profit Earned

1

2005-06

Rs.12.93 Lakhs

2

2006-07

Rs.21.10 Lakhs

3

2007-08

Rs.25.84 Lakhs
4 2008-09 Rs.26.56 Lakhs

Performance during last four years.

Year

Loans availed from
Rs in laksh

No. of Housing Units Financed

Loans Disbursed
Rs. In Lakhs

Loans Recovered
Rs. In Lakhs

LIC of India

Allahabad  Bank

 2007-2008

1500.00

912.00

1349

2628.82

3486.20

2008-2009

1500.00

 

775

1903.00

3823.81

2009-2010

900.00

 

796

1873.03

3541.68

2010-2011

0.00

0.00

959

2419.00

4414.75

Programme for 2010-11

            During the year 2011 – 2012 the A.P.Housefed has proposed to advance loans to an extent of Rs.25.00 Crores for construction of 1,000 Units

Organisation Structure of A.P. HOUSEFED
            The Primary members participate in the functioning of Housefed as they elect the Managing Committee to manage its affairs.
            Elections are conducted for the Managing Committee members of the A.P.Housefed on 30.08.2011 and the elected Management has assumed charge on 30.08.2011 and the term of the Committee is up to 29.8.2016.  

Managing  Committee  of A.P.HOUSEFED

Sarvasree/Smt
Y.Gopal Reddy - Chairman
D.Ramamohan Rao - Vice-Chairman
D.Ramanamma - Member 
R.Laxmipathi Raju - Member
K.V.V.Satyanarayana  - Member
Mekala Venka Reddy - Member
K.Balachandra Reddy - Member
S.Javeed - Member
Kadari Naveen Kumar  - Member
M.Goverdhana Reddy - Member
A.Kishan Rao - Member
M.Sudhakar Babu - Member
Vasanth Rao Deshpande - Member
K.Navaneeta Rao Member
K.Jararam Member 
Govt Nominees 
Dr.K.M.Narasimham, J.R./Managing Director, A.P.Housefed.
DCO, Hyderabad (Urban) , (Registrar’s Nominee). 
Sr.Divisional Manager, L.I.C, Nominee from L.I.C. of India.
 
 
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