Gujarat Home Loan Interest Subsidy Scheme: 3% Relief for Organized Sector Workers

Home Loan Interest Subsidy Scheme, launched by the Gujarat Labour Welfare Board, is aimed at providing financial relief to organized sector workers by offering a 3% interest subsidy on home loans. This scheme encourages homeownership among workers and reduces the financial burden of interest deductions on home loans.


Benefits

  1. Interest Subsidy:
    • 3% subsidy on home loan interest.
    • Maximum loan amount eligible: ₹15 lakhs or 3% of the actual loan interest, whichever is less.
  2. Direct Benefit Transfer (DBT):
    • Subsidy credited directly to the beneficiary’s bank account.

Eligibility Criteria

  1. Employment:
    • Must be employed in the organized sector in Gujarat.
    • Continuous employment with the same factory/company/organization for at least 1 year.
  2. Labour Welfare Fund:
    • The applicant’s Labour Welfare Fund must have been deposited with the Gujarat Labour Welfare Board.
  3. House Purchase:
    • The maximum purchase price of the house should not exceed ₹30 lakhs.
  4. Loan Details:
    • Loan tenure must be 15 years or more.
    • Home loan must be taken from a Nationalized Bank, Scheduled Bank, or NBFC.
  5. Application Deadline:
    • Application must be submitted within 1 year of the purchase document date.

Application Process

Online Steps:

  1. Visit the Sanman Portal:
  2. Registration:
    • Click ‘Please Register Here’ under the Citizen Login tab.
    • Enter your Aadhaar number, user type, and Labour Welfare Fund Account Number.
  3. Details Verification:
    • Click ‘Fetch’ to verify your details.
  4. Login Creation:
    • Enter user details, create a password, and register.
  5. Application:
    • Login using your User ID and Password.
    • Select the scheme, read the instructions, and complete the application form.
    • Upload all required documents.
  6. Submit:
    • Agree to the terms and submit the application form.
    • A confirmation email with the application number will be sent to the registered email ID.

Documents Required

  1. Passport-sized photograph.
  2. Identity card issued by the contractor or employer.
  3. Aadhaar card.
  4. Labour Welfare Fund Account Number.
  5. Loan sanction letter as proof of loan.
  6. Annual loan statement or interest certificate.
  7. Self-declaration.
  8. Bonafide certificate.
  9. Bank account details or passbook copy.
  10. Any additional documents as required by the board.

Note: If the Labour Welfare Fund Account Number is unavailable, contact the respective factory/organization official.


Frequently Asked Questions (FAQs)

  1. Who launched the scheme?
    • The scheme was launched by the Gujarat Labour Welfare Board under the Labour, Skill Development & Employment Department.
  2. What is the percentage of interest subsidy provided?
    • A 3% interest subsidy is provided.
  3. What is the maximum loan amount eligible?
    • The maximum loan amount eligible for subsidy is ₹15 lakhs.
  4. What is the maximum house purchase price under the scheme?
    • The purchase price of the house should not exceed ₹30 lakhs.
  5. What is the minimum loan tenure required?
    • The home loan must have a minimum tenure of 15 years.
  6. Who is eligible?
    • Organized sector workers in Gujarat with continuous employment of at least one year and a valid Labour Welfare Fund Account.
  7. Can workers from any sector apply?
    • No, only workers from the organized sector in Gujarat are eligible.
  8. What is the application deadline?
    • Applications must be submitted within 1 year of the house purchase document date.
  9. How is the subsidy amount disbursed?
    • The subsidy is directly credited to the beneficiary’s bank account via DBT.
  10. Which financial institutions are eligible for home loans under the scheme?
  • Loans must be taken from Nationalized Banks, Scheduled Banks, or NBFCs.

Contact Information

For more details, visit the Sanman Portal: sanman.gujarat.gov.in.

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