Scheme For Loan And Advances to the Beneficiary For Construction Of House

Scheme for Loan and Advances to Beneficiaries for House Construction

The Scheme for Loan and Advances to Beneficiaries for the Construction of Houses is an initiative by the Tripura Building and Other Construction Workers Welfare Board, under the Labour Department of Tripura. This program aims to support registered construction workers by providing them with a credit-linked interest subsidy, facilitating the construction of their homes.

Overview of the Scheme

Implemented by the Tripura Building and Other Construction Workers Welfare Board, this scheme offers significant financial assistance to eligible construction workers. By providing a credit-linked interest subsidy, it aims to ease the process of building residential houses for workers in the construction sector.

Key Benefits

• Interest Subsidy: A credit-linked interest subsidy at a rate of 6.5% for qualifying loans.
• Loan Amount: Eligible applicants can receive a loan of up to ₹6 lakh.
• Repayment Period: The loan is repayable over a maximum duration of 20 years.
• Subsidy Credit: The subsidy amount is directly credited to the loan account, helping to lessen the financial burden on beneficiaries.

Eligibility Criteria

To qualify for this scheme, applicants must meet the following conditions:

• The individual must be a registered and active beneficiary under the Tripura Building and Other Construction Workers Welfare Board.
• Applicants should have a minimum of 5 years of registration as construction workers.
• The worker must be at least 20 years away from retirement.
• Applicants must not own any pucca (permanent) house anywhere in India.
• There should be a minimum land area of 30 square meters available for house construction, based on the worker’s income status.
• The beneficiary’s family must not have received any central assistance from any housing scheme by the central or state government.
• The annual income of the worker should not exceed ₹3,00,000.
• The applicant must belong to the economically weaker section (EWS) category.

Application Procedure

Interested applicants can apply online through the Common Service Center (CSC). Below are the step-by-step instructions for the application process:

• Step 1: Collect all necessary documents required for the application.
• Step 2: Visit the nearest Common Service Center (CSC) and undergo the Biometric Verification Process.
• Step 3: Ensure that the CSC agent fills in all mandatory fields of the application form and uploads the required document copies.
• Step 4: After submission, request a receipt or acknowledgment from the concerned authority. This receipt should contain vital information such as the submission date, time, and any unique identification number, if applicable.

Additional Information

For further details and to access the official resources regarding this scheme, you can visit myScheme.gov.in.

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