7 months ago
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The Kerala Assembly connected Thursday (October 9, 2025) passed the Kerala Single Dwelling Place Protection Bill 2025 aimed astatine protecting families from losing their mortgaged azygous dwelling spot connected relationship of non-repayment of loans. Industries Minister P. Rajeeve, who replied to the discussions successful the lack of the Chief Minister, said that the State authorities has created a instrumentality to support radical from losing their dwelling places portion the Union authorities earlier this twelvemonth removed an full Section from the Disaster Management (DM) Act to contradict indebtedness waiver to persons affected by disasters of terrible magnitude similar the Wayanad landslides.
“This is 1 of the astir important legislations successful the past of the Assembly. The plight of the mediocre families who were inhumanly evicted from their lone location for failing to repay a indebtedness and near connected the streets led the authorities to framework this law. The concern was a effect of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act enacted by the BJP authorities successful 2002. Under this law, each those who had availed a indebtedness supra ₹1 lakh were treated successful the aforesaid manner. The Congress-led Union governments which followed besides did not instrumentality steps to amend the Act,” said Mr. Rajeeve.
Though the Kerala Assembly had successful the past unanimously demanded the Union authorities to amend immoderate of the clauses, it was not heeded to. As per the clauses of the projected Kerala Single Dwelling Place Protection Bill, those who person availed a indebtedness magnitude not exceeding a maximum of ₹5 lakh are eligible for protection, with the authorities taking implicit the liability. The full repayment amount, including the indebtedness amount, interest, penal involvement and different incidental expenses, should not transcend a maximum of ₹10 lakh.
Except for the spot mortgaged, the debtor and family, either himself oregon jointly, should not person different properties oregon person different means for repayment. Dwelling spot extortion committees volition beryllium acceptable up astatine the State and territory levels for the purpose. Any idiosyncratic who wants to get benefits nether the Act volition person to taxable an exertion with allied documents earlier the territory committee, which volition behaviour a preliminary enquiry and instrumentality indispensable conciliation measures for amicably resolving the repayment liabilities.
