- About HOUSEFED
HOUSEFED, a state level Co-operative Housing Society was established in the year 1978 under the Assam Co-operative Societies Act 1949. Housefed is working under the administrative control of Cooperation Deptt. and is affiliated to the National Co-operative Housing Federation of India, New Delhi. The activities are governed by its Bye-Laws. The management of the Housefed is vested with the Board of Directors and the present Board of Directors which is constituted by the Cooperation Deptt., Govt. of Assam are as mentioned below:1. Chairman, (Govt. nominated) with following members.
2. Commissioner & Secretary, Govt. of Assam, Cooperation Deptt.
3. Commissioner & Secretary, Govt. of Assam, Finance Deptt.
4. Registrar of Cooperative Societies, Assam
5. Managing Director, Assam Cooperative Apex Bank Ltd.
6. Regional Chief, HUDCO
7. Regional Manager, LICI
8. Managing Director, Housefed as Member Secretary
Funding of Housefed by way of providing Share Capital contribution, scheme subsidy for SC/ST and State Govt. Guarantee for raising institutional finance are being made under Cooperation Deptt. The statutory audit and inspection of the fund and working of Housefed are done by RCS, Assam. The primary objective of Housefed are well defined in the Bye-laws of Housefed and are as mentioned below:
The primary objectives of HOUSEFED are:-
1. To promote Organization of the Co-operative Housing Societies in the State and arrange loans for construction of dwelling houses for members of Primary Housing Society and individual member of HOUSEFED . To acquire and develop land for the benefit of housing programme and for construction of house / flats etc.
2. To undertake the work of financing housing Societies and allied activities as an agent of the Government.
3. To achieve the objectives of HOUSEFED for promoting and development of Co-operative housing in the State, the Govt. of Assam under Cooperation Deptt. has been providing financial and other required support to the HOUSEFED.
4. The working capital of HOUSEFED is constituted out of the paid up share capital contribution of State Govt., share of Primary Societies ,Individual loanee and borrowings from national level financial institution like HUDCO, LICI etc.
5. Fund from HUDCO, LIC is borrowed against State Govt. Guarantee and in some cases against mortgage of Project properties.
6. The details of the authorized share capital as approved under the Bye-Laws and the paid up value of share as on 31-03-2017 alongwith the outstanding borrowings from HUDCO, LICI are as mentioned below.
Authorized Share Capital
SL No. Member Type Share Value Total Share Value a) Primary society “A” class shares @ Rs. 1000/- each Rs. 7.60 Crores b) State Govt. “B” class shares @ Rs.5000/- each Rs. 15.00 Crores c) Institution “C” class shares @ Rs.1000/- each Rs. 3.00 Crores d) Individual “D” class shares @ Rs.1000/- each Rs. 5.00 Crores Total Rs.30.60 Crores
Paid up share capital as on 31-03-2017
Out of this above authorized share capital, provision of the paid up share of Govt. of Assam under the Cooperation Budget and the others as shown below as on 31-03-2017
The total paid up share as on 31-03-2017 :-
SL No. Member Type Paid up Share Capital a) Primary & Individual Rs. 1.90 crores b) Government Rs. 14.47 crores
The resource base consists of the following:
• Equity participation in the form of share capital contribution and managerial subsidy of the Govt. of Assam, share contribution of the Primary Housing Societies and individual members.
• Borrowings from financial institutions like LICI and HUDCO against mortgage of property or Govt. guarantee for execution of construction projects, and for cash loan schemes.
• House rent from rental buildings owned by Housefed.
• Income from sale of flats and commercial ventures.
• Interest from deposits.
• Earnings from service charges by undertaking deposit works from Government/Semi-Government organizations.
The net turnover inclusive of the permanent immovable assets is worth Rs.210.00 Crores as on 31-03-2017.
Housing loan schemes undertaken by Housefed in Assam
Housefed has been implementing the cash loan housing scheme in the State for allround development of housing in the State under cooperative venture. The schemes are being implemented with the support of the Cooperation Deptt. and registered Primary Housing Societies registered in different Sub-Divisional ARCS offices and the applicants under apex society scheme.
The implemented schemes are: General Housing Scheme for EWS, LIG, MIG and HIG, Group Housing Scheme for landless, Subsidized Rural Housing Scheme for SC/ST, Plotted Development Scheme in Guwahati.