Home Loan Interest Subsidy Scheme- Gujarat Labour Welfare Board
in Gujarat
Last updated:
Home Loan Interest Subsidy Scheme- Gujarat Labour Welfare Board in Gujarat
Home Loan Interest Subsidy Scheme- Gujarat Labour Welfare Board is a government scheme available to eligible residents of Gujarat.
Apply for Home Loan Interest Subsidy Scheme- Gujarat Labour Welfare Board in Gujarat
Scheme Overview
Under the scheme, a 3% Interest Subsidy is provided to workers who are employed in the organized sector to buy their own house and get relief from interest deductions on loans taken from banks.
Eligibility Criteria
The workers who are working in the organized sector in the state of Gujarat will be eligible to get the benefit of this scheme.
The workers should have been working continuously with the Factory/Company/Organization for one year and his/her Labour Welfare Fund should have been deposited in the board.
The purchase price of the house is a maximum of ₹30 lakhs.
The loan tenure should be 15 years or more.
Home loans should be taken from Nationalized/Scheduled Bank/NBFC only.
Application has to be made within one year from the date of purchase document.
Benefits
The scheme offers a 3% Interest Subsidy to workers employed in the organized sector for purchasing their own house.
**Note 01:** The maximum loan on a house purchased by a worker is ₹15 lakhs or an interest subsidy of 3% taking into account the bank interest on the loan actually taken, whichever is less.
**Note 02:** The assistance amount will be credited to the beneficiary's bank account through DBT.
Required Documents
| # | Document |
|---|---|
| 1 | Passport-size Photograph |
| 2 | A copy of the identity card issued by the contractor to the worker/labour |
| 3 | Aadhaar Card of Labour |
| 4 | Labour Welfare Fund Account Number |
| 5 | Proof of taking a loan (loan sanction letter) |
| 6 | Annual Loan Statement/Annual Interest Certificate |
| 7 | Self-declaration |
| 8 | Bonafide certificate |
| 9 | Bank account details/Bank Passbook |
| 10 | Any other documents as required |
Common questions in Gujarat
Who can apply for Home Loan Interest Subsidy Scheme- Gujarat Labour Welfare Board in Gujarat?
Eligible residents of Gujarat who meet the scheme’s overall criteria can apply for Home Loan Interest Subsidy Scheme- Gujarat Labour Welfare Board. Refer to the eligibility section above for the complete checklist.
What documents are required for Home Loan Interest Subsidy Scheme- Gujarat Labour Welfare Board in Gujarat?
Applicants in Gujarat typically need identity proof (Aadhaar), state residency proof, bank account details, and any scheme-specific documents listed in the documents section.
Frequently Asked Questions
The scheme was launched by the Gujarat Labour Welfare Board, under the Labour, Skill Development & Employment Department, Government of Gujarat.