Gujarat Extends Penal Interest Waiver For Rural Housing Beneficiaries Till Jan 31

(MENAFN- IANS) Gandhinagar, Aug 27 (IANS) The Gujarat government has extended by five months a scheme offering a 100 per cent waiver on penal interest to beneficiaries of housing schemes of the Gujarat Rural Housing Board, giving eligible beneficiaries until January 31, 2027, to clear their outstanding principal amount and avail the benefit.

The extension follows the first phase of the scheme, under which 2,988 beneficiaries paid Rs 10.57 crore towards their outstanding principal amount through 22 recovery camps organised at the district level.

The beneficiaries collectively received a waiver of Rs 39.51 crore in penal interest, according to details from the Gujarat Rural Housing Board.

The scheme was approved by the state government to waive the penal interest accrued on outstanding instalments of the principal amount for beneficiaries of housing projects constructed by the Board under its Hire-Purchase Scheme.

It covers beneficiaries of the Economically Weaker Section (EWS), Lower Income Group (LIG), Middle Income Group (MIG), Competitive (Composite) and Cash Loan housing schemes.

"After making the required payments, all 2,988 beneficiaries who availed themselves of the scheme were issued Loan Clearance Certificates," the Board said.

The state government has now extended the deadline to January 31, 2027, citing the convenience of beneficiaries and providing those who could not participate in the first phase with additional time to settle their outstanding principal amount and claim the full penal interest waiver.

The Gujarat government had earlier announced the one-time waiver scheme for Rural Housing Board beneficiaries, with the measure aimed at allowing eligible families to clear their principal dues without having to pay accumulated penal charges.

The Chief Minister's Office had said the broader scheme was intended to benefit more than 9,000 rural families.

The Rural Housing Board has urged eligible beneficiaries to make use of the extended deadline and complete the required payments within the stipulated period.

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