The Tamil Nadu Housing Board, known as the City Improvement Trust of Chennai before 1961, is a body that caters to the housing needs of the economically weaker sections of society and the lower-income group. Under the TN Housing Board scheme, this authority constructs affordable residential and commercial spaces for people falling under various income groups and auctions them off.
The salient features of this scheme include the availability of various amenities like commercial complexes and schools nearby. This is one of the most beneficial housing schemes. The properties are priced according to the locality you are eligible for, and certain plots are also reserved for defence personnel and government servants.
Additional Read: Home Loan in Chennai
The objectives of the TN housing board
As a matter of policy, the TN housing board is committed to ensuring high-quality materials in their projects, using the latest modern techniques in the construction, and providing shelter to the people in need. The board offers affordable housing to Tamil Nadu citizens who come under EWS (Economically Weaker Section), Lower Income Group (LIG), Middle Income Group (MIG) and Higher Income Group (HIG), at different price ranges.
What’s more, TNHB has the unique vision of providing housing for all. It aims to develop very large neighbourhood schemes where each construction project remains a self-contained neighbourhood by itself.
Let us now explore the TNHB’s sub-schemes, eligibility criteria, and application procedures.
Tamil Nadu Housing Board’s (TNHB) ongoing sub-schemes
Various sub-schemes, as mentioned below, are ongoing under the Tamil Nadu Housing Board within different parts of the state. Beneficiaries are selected after the draw of lots. Then, they can avail of home loans under these schemes through authoritative bodies like the housing board in Chennai,Thanjavur, and Trichy.
1. Thanjavur Housing Division
This government housing scheme in Tamil Nadu offers multiple units under various housing schemes. These include Tamil University Campus Self Finance Scheme, Thanjavur Scheme, Pattukottai Self Finance Scheme, and more.
2. Besant Nagar, Chennai
Under this division, the scheme offers flats by a drawing of lots. The localities in the purview of the housing board Chennai include Indra Nagar and Sholinganallur, where 60 and 280 units are available respectively.
3. Trichy Housing Division
Dedicated to offering shops and commercial units, the plots under this scheme are open for auction in Valavanthankottai, Navalpattu and Pudukottai.
TN Housing Schemes eligibility criteria
Many lenders offer a home loan eligibility calculator on their websites, using which you can check your eligibility in advance and make better financial decisions. The eligibility criteria for the TN housing board schemes and sub-schemes are as follows:
- The applicant must be more than 21 years old.
- The applicants must be salaried individuals and have a stable income.
- The applicants must be natives of Tamil Nadu.
- The applicants must not be the owner of any other property under any other government scheme.
Apart from this, make sure that you also fulfill the home loan eligibility before applying for a loan. You can use a home loan eligibility calculator on your lender’s website.
How to apply for government house schemes in Tamil Nadu
To apply for a house under this scheme, you must buy the application form and submit it with the demand draft before the due date. To purchase and deposit the form, you can visit the city division or Mofussil unit. You can also read application details on the official Tamil Nadu housing board website.
For filling up the application, follow the instructions and guidelines printed in the application form.
After filling out the form, you must register the application form with the respective Division office or Unit office on payment of the prescribed registration fee. Currently, you can make the payment either by cash or by demand draft. Make sure you complete the payment on or before the due date indicated in the application form.
Next, you may choose to finance the purchase by availing a housing loan. You can use the home loan EMI calculator on your lender’s website to be aware of the EMIs in advance. Doing so will help you plan your repayment and avoid missed payments and hefty penalty charges.
To sum up
Before taking a loan, make sure to check the home loan EMI rates. You can do so by visiting the Tata Capital website and entering your loan details to get an exact estimate of the EMIs payable.
Are you looking to avail of the special TN Housing Scheme and purchase a home? Then, Tata Capital is here to relieve your financial stress with our affordable home loan interest rates, starting at 6.90%. Reach out to us and avail of the most competitive offers, interest rates, and added benefits like the home loan calculator for utmost transparency.
So, visit our website to learn more about our attractive home loan interest rates and apply online.
27 November 2023
5 mins read
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