Gujarat Chief Minister Bhupendra Patel has introduced a significant relief measure for beneficiaries of rural housing schemes in the state. The measure involves a one-time waiver of penal interest for thousands of families in rural areas who are part of the Gujarat Rural Housing Board programs.
Beneficiaries who are struggling to pay the penal interest on delayed housing loan instalments will now have the opportunity to clear the outstanding principal amount without the burden of additional charges. This decision is aimed at reducing the financial strain on families willing to repay their housing loans.
Under this initiative, beneficiaries across rural areas of Gujarat will be eligible for the penal interest waiver if they repay the entire outstanding principal amount within a specified six-month period. The waiver applies to the two percent per month penal interest charged on overdue instalments.
Officials shared that the relief scheme, amounting to nearly Rs 154 crore, is expected to benefit around 9,029 rural families in Gujarat. This move not only provides financial assistance but also grants ownership rights to families who fulfill the repayment conditions within the stipulated timeframe.
By implementing this one-time relief scheme, the state government aims to support low-income rural households in achieving long-term housing stability. The initiative also aligns with the goal of expanding housing access in rural Gujarat and facilitating the legal ownership process for eligible families.
