Implementation of Chief Minister Mr. Bhupesh Baghel’s announcement: Shri Lalit Surjan Sanchar Pratinidhi Awas Rin Byaj Anudan Yojana published in the Gazette
Interest subsidy will be provided for five years
The scheme will be applicable to houses purchased after April 1, 2023
Raipur, 26 September 2023/ On the initiative of Chief Minister Mr. Bhupesh Baghel, journalists in the state will now be able to fulfill their dream of housing at affordable rates. Following the announcement made by the Chief Minister in the budget for the financial year 2023–24, ‘Shri Lalit Surjan Sanchar Pratinidhi Awas Rin Byaj Anudan Yojana’ was published in the Gazette by the Public Relations Department. Under the scheme, a 5 per cent interest subsidy per month will be given for housing loans up to Rs 30 lakh for 5 years. This scheme will be effective for purchasing houses after April 1, 2023.
According to the notification published in the Gazette, the benefit of the scheme will be given only on residential loans, and the house to be purchased should be built within the state of Chhattisgarh. An interest subsidy will be given to the maximum limit of a housing loan of Rs 30 lakh. The journalist will get a 5 per cent interest subsidy per month for 5 years on housing loans taken from nationalized banks, Reserve Bank of India-notified financial institutions, and cooperative banks.
Full-time and part-time journalists working in the editorial branch of registered news agencies, editors of news portals, and independent journalists fulfilling the qualifying conditions of the preference rules and residing in Chhattisgarh for a minimum of 5 years will be eligible to benefit from the scheme.
The journalist will be eligible only if he takes a housing loan in the joint name of himself or his wife
The journalist will be eligible for the scheme only if he takes a housing loan in the joint name of himself or his wife. The scheme will be applicable only to one housing loan. If any journalist transfers the house already owned by him or his wife to his minor or adult child after the implementation of the scheme and owns a new house, he will not benefit from the scheme.
A person will not get the benefit of the scheme if they get a new home loan by repaying the already-approved home loan. The benefits of this scheme will be available only if the communication representatives make regular loan and interest payments. In the event of default, the eligibility for the benefit of the scheme will automatically terminate.
Affidavit will also have to be submitted – To be eligible for the scheme, there should not be any other residential building in the name of the applicant, his wife, dependent son, or daughter. An affidavit to this effect will have to be presented. Along with the affidavit, certified records of loan approval and loan distribution taken by the journalists from registered banks or registered financial institutions will have to be submitted along with the application in the prescribed form to the Directorate of Public Relations.
The bank’s certificate of regular payments will have to be presented – The journalists will have to make regular payments of the monthly installment on the loan taken by themselves. Banks will have to submit the bank’s certificate regarding regular payment of the principal and interest on the loan to the Public Relations Directorate every month. After calculating the 5 percent interest subsidy, the amount will be transferred to the bank accounts of the concerned journalists.
Calculation of scheme amount: Reimbursement of interest subsidy will be done quarterly. In any case, the subsidy amount will not be paid in one go. The calculation of the housing loan interest subsidy will be as follows: The interest payable to the bank in the financial year will be multiplied by a five per cent interest subsidy. The result obtained will be divided by the bank interest percentage rate.
If the housing loan is more than Rs 30 lakh, the interest subsidy will be calculated in two stages. In the first phase, interest will be calculated up to a maximum of Rs 30 lakh. The maximum amount under the scheme (Rs 30 lakh) will be multiplied by the interest amount payable on the loan sanctioned in the financial year. The result obtained will be divided by the sanctioned home loan amount. In the second phase, the interest subsidy amount will be calculated. The interest amount received after calculation in the first phase will be multiplied by a five per cent interest subsidy. The result obtained will be divided by the bank interest percentage rate.
Committee will make recommendations for the scheme – For the first time, a committee of senior officers in the Directorate will make recommendations for the approval of interest subsidies. The committee will include the Commissioner/Director, Public Relations Directorate, Additional Director (Journalist Welfare), Additional Director (News), and Deputy Director/Joint Director (Finance).
Decisional conditions/rights for the scheme: On any question of approving an interest subsidy, the qualifying conditions of the institute and journalist mentioned in the rules prevailing at that time will also be considered. The Commissioner/Director of Public Relations will have the right to approve or reject interest subsidies.
