Providing a loan of three lakh to the resident who are having land of 3 cents and home not in a minimum residency condition. Those who get housing assistance from local self-government institutions can apply for a loan before construction of the house.
| Maximum Loan Amount | 3,00,000 /- |
| Interest Rate | 6% P.A |
| Tenure | 144 months |
| Income | Villages :Applicants living in Panchayath area – up to 98,000/- per annum Town : Applicants living in Municipality or Corporation area – up to 1,20,000/- per annum |
1) Total amount of the loan is Rs.3 lakhs. It is paid in three instalments. First instalment of Rs.1,25,000/- is paid in advance, 2nd instalment of Rs.1,00,000/- is paid after obtaining a completion certificate up to roof level from the concerned Village Officer and the 3rd instalment of Rs.75,000/- is paid after the total completion certificate from the Village Officer is produced.
2) Minimum Land required is 3 cents in the name & possession of the applicant.
3) The applicant, spouse and children should not possess a house which is suitable for living.
4) The beneficiaries of Housing Grant from various local bodies those who have not started house construction also can apply for this loan.
5) Apart from general documents the following certificates should he submitted along with the application.
1) Building permit/NOC.
2) Certificate showing the applicant & family do not possess a suitable house for living.