Kathmandu, Mar. 9:The Employees Provident Fund (FPF) has constructed a total of 112 low-cost houses for its depositors in pokhara.

Constructed at a cost of Rs 27.4 million in two years, three houses have already been given a finishing touch.

The houses have been built on 35 Ropani of land at Ward No. 17 of Pokhara Sub-Metropolitan City.

Use of hollow cement bricks, semi-precast technology and block projection frame has reduced construction cost by 35 per cent without affecting its quality, according to engineer Bhuwaneshwor Lal Shrestha.

The depositors who have deposited their money in the fund for at least 15 years can purchase the house by paying 25 per cent of the selling price as first installment and the rest can be paid off on installment basis at 10.5 per cent interest rate.

Of the 112 houses built as core houses, 33 have five rooms including one storeroom and one bathroom in one Aana and three Paisa of land meant for low-income people. They cost Rs 295,000 each.

Twenty seven houses meant for low middle class people built in two Aana and two Paisa of land have eight rooms including one storeroom, two bathrooms, one Pooja room. Each costs rs 435,000.

Similarly, the houses meant for the higher middle class people have a total of 10 rooms including one storeroom, two bathrooms and one Pooja room. Each costs Rs 500,000 and is built on three aana and two paisa of land.

According to officiating administrator of the fund Rajesh Rajkarnikar, the housing area has parking facility, schools and open ground with 22-foot wide main road and 13-foot wide inner roads. The area has drinking water, electricity and sewerage facilities including compound walls.

Mr Rajkarnikar said the housing project will be expanded to other parts of the country also in the future, adding the employees can also issue loans for such projects on demand.