In 1961, the City Improvement Trust of Chennai was refurbished into the Tamil Nadu Housing Board or TNHB to meet the immediate housing requirements in urban areas. The TNHB provides with shelters for people under various categories.
This scheme has been a popular option since they offer such constructions at affordable rates. The TNHB usually builds self-sufficient communities, which comprises of educational institutes, commercial spaces, along with basic amenities. With numerous schemes, they offer plots and units at various prices.
What is TNHB recently working on?
Latest projects by the TNHB include –
- Apartments at Besant Nagar, Chennai
One of the TNHB’s divisions is working on developments located in Besant Nagar to ensure that housing is affordable for the middle class. They are offering apartments at Sholinganallur as well as Indira Nagar. In this project, they are providing with 60 MIG apartments in Indira Nagar, whereas 280 in Sholinganallur.
While filling out the application, buyers are required to deposit 5% of the property’s cost. For individuals who are not selected, their application money would be refunded. However, those who are chosen for further procedure have to pay another 5% within the upcoming 21 days. They need to pay the rest 90% within the next 30 days.
Availing home loans in India under the PMAY CLSS can be beneficial for such individuals to buy these properties. Few NBFCs provide such Home Loans with balance transfer facility, top-up loan, and zero part-prepayment and foreclosure charges.
- School/public purpose/commercial locations at Trichy
A part of the TNHB is the Trichy Housing Entity, which is offering commercial units, nursery as well as secondary schools, shops, along with various public amenities. They are proposing such offers through open auctions in several areas, including Valavanthankottai, Navalpattu, Pudukottai, and Manapparai. The application fee charged is 15% of the entire amount.
How to apply under this scheme?
You have to ensure you fall within the following categories before applying:
- Economically Weaker Section (EWS)
- Lower Income Group (LIG)
- Middle Income Group (MIG)
- Higher Income Group (HIG)
To apply under this scheme, you have to follow these steps:
- Visit the official website of Tamil Nadu Housing Board.
- Go through the entire procedure and set of instructions thoroughly.
- Download the required form among all the available ones.
- Fill in the mandatory fields, keeping the requirements in mind.
- Submit the application form along with the fee charged.
Also, make sure you are aware of the factors that can affect your home loan eligibility when you seek financing to purchase a house.
What are the documents required for the application?
- Housing specifics: Applicants must provide with specific details of the house they are willing to purchase. This includes accurate measurements and number of rooms along with other compulsory information.
- Income details: The monthly income of applicants, their work nature, number of working family members, family income as well as the number of dependants- all of these documents must be provided. Additionally, the age proof of each member needs to be submitted as well.
- Address documents: The applicants must provide with their present as well as a permanent address. If they own any other properties, they need to deliver with such details too.
- Bank account details: While filling out the application form, account number along with branch details, must be provided.
- Identity proof: A unique identity is mandatory for identity verification. It could be your driving license, Voter ID card or some other evidence. However, Aadhaar Card details are necessary.
It is evident that the Tamil Nadu Housing Board Scheme is working with the basic motive to provide with housing for all sectors of the society. If you are willing to apply under the same, avail a home loan in order to reduce your financial burden.