Chief Minister Shri Bhupesh Baghel’s announcement was implemented: Shri Lalit Surjan Sanchar Pratinidhi Housing Loan Interest Subsidy Scheme published in the Gazette will provide interest subsidy for five years.
The scheme will be applicable on houses purchased after April 1, 2023.
Raipur, 26 September 2023
On the initiative of Chief Minister Shri 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 Housing Loan Interest Subsidy Scheme’ has been published in the Gazette by the Public Relations Department. Under the scheme, 5 percent interest subsidy per month will be given for housing loans up to Rs 30 lakh for 5 years. This scheme will be effective on 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 loan and the house to be purchased should be within the state of Chhattisgarh. Interest subsidy will be given to the maximum limit of housing loan of Rs 30 lakh. The communication representative will give 5 percent interest subsidy per month for 5 years on housing loans taken from nationalized banks, Reserve Bank of India notified financial institutions and cooperative banks.
The benefit of the scheme is to get daily news and TV by residing in Chhattisgarh for minimum 5 years. Full-time and part-time communication representatives working in the editorial branch of registered news agencies and editors of news portals and independent journalists fulfilling the qualifying conditions of preference rules will be able to take admission in news channels.
You will be eligible only if the communication representative takes a housing loan in the joint name of himself or his wife. This scheme will be eligible only if the communication representative takes a housing loan in the joint name of himself or his wife. The scheme will be applicable only for one housing loan. If any communication representative transfers the house already owned by him or his wife to his minor/adult child after the implementation of the scheme and takes a new house, he will not get the benefit of the scheme.
You will not get the benefit of the scheme if you 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 case of defaulter, the eligibility for benefit of the scheme will automatically end.
Affidavit will also have to be given – To be eligible for the scheme, there should not be any other residential building in the name of self or wife or dependent son or daughter. An affidavit to this effect will have to be given. Along with the affidavit, certified records of loan approval and loan distribution taken by the communication representatives from registered banks or registered financial institutions will have to be submitted along with the application in the prescribed form in the Directorate of Public Relations.
Bank’s certificate will have to be presented by making regular payments – The communication representatives will have to make regular payment of monthly installment on the loan taken by themselves, banks will have to submit the bank’s certificate regarding regular payment of principal and interest of the loan to the Public Relations Directorate every month. After calculating 5 percent interest subsidy, the amount will be given in 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 housing loan interest subsidy will be as follows. In this, the interest payable in the bank in the financial year will be multiplied by five percent interest subsidy. The result obtained will be divided by the bank interest percentage rate.
In case 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 amount of Rs 30 lakh. In this, 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. In this, the interest amount received after calculation in the first phase will be multiplied with five percent 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 consider and recommend for the approval of interest subsidy. The committee will include Commissioner/Director, Public Relations Directorate, Additional Director (Journalist Welfare), Additional Director (News), Deputy Director/Joint Director (Finance).
Decisional condition/right for the scheme – On any question of approving interest subsidy, the qualifying conditions of the communication institute and the communication representative mentioned in the preference rules prevailing at that time will also be considered. The Commissioner/Director, Public Relations will have the right to approve or reject interest subsidy.
