Tamil Nadu Government Launches Interest Relief Scheme for Housing Board Allottees

Chennai, November 12 (Daily Kiran) : The Tamil Nadu government has announced a special interest relief scheme aimed at assisting housing board allottees who have not settled their dues despite completing the installment period. This initiative is expected to benefit approximately 6,496 individuals, helping them obtain the sale deeds for their properties.

According to an official statement, the scheme will apply to plots, houses, and apartments allocated under the Tamil Nadu Housing Board’s installment-based purchasing plans. Eligible allottees are those whose payment periods ended on or before March 31, 2026.

Under this scheme, eligible beneficiaries will receive concessions on the interest charges when settling their outstanding payments in a lump sum. The government has indicated that this special initiative will remain in effect for one year.

Chief Minister C. Joseph Vijay has directed the implementation of this scheme to alleviate the financial burden on allottees and expedite the issuance of pending sale deeds. Many sale deeds have not been issued due to incomplete payment of dues.

The relief package includes waivers on penal and capitalized interest, as well as a five-month interest exemption for discrepancies arising from the final determination of land costs each year.

This decision follows an announcement made by the Minister of Housing and Urban Development during the 2026-27 budget session. The statement revealed that around 6,496 allottees have yet to receive their sale deeds, although their installment periods have expired. This special concession scheme aims to assist them in clearing their dues and obtaining the necessary documentation.

The government estimates that the scheme will generate approximately ₹92.39 crore for the housing board, while allottees are expected to benefit from a total interest relief of ₹18.45 crore.

Officials believe that the initiative will not only promote the settlement of outstanding payments but also provide relief to allottees burdened by old debts. For the housing board, this scheme is expected to facilitate the recovery of dues and expedite the sale deed issuance process for beneficiaries who meet the payment conditions.

It is important to note that this scheme is available only to those allottees whose payment periods ended by March 31, 2026, and who still have outstanding dues. A one-time settlement will be required to take advantage of this relief.