How to buy Tamil Nadu Housing Board Flats?
If you are looking to buy real estate in Tamil Nadu, your options should not be limited to just private developers. The Tamil Nadu Housing Board formed in 1961 offers real estate development projects across the state from time to time. Tamil Nadu Housing Board commonly known as TNHB offers projects catering to the needs of all sections of society. TNHB projects offer dream homes for people from economically weaker section (EWS), lower income group (LIG), middle income group (MIG) as well as higher Income Group (HIG) at affordable costs. Read on to know the details on how who can apply to procure flats and plots developed by both Tamil Nadu Housing Board as well as Chennai Metropolitan Development Authority (CMDA).
An overview of TNHB multi Story Apartments
Tamil Nadu Housing Board offers constructed multi story apartments in various locations across the state. As of now Tamil Nadu Housing Board is working on developing apartments in K.K.Nagar and Foreshore Estate locations of Chennai. Any resident of Tamil Nadu can use the simple application process to be eligible for draw of lots after fulfilling the eligibility criteria.
Application Procedure for TNHB flats
In order to apply for buying readymade apartments developed by Tamil Nadu Housing Board, an individual needs to issue a demand draft in favor of the executive Engineer concerned and procure the application form. Alternatively you can also contact the respective City Division/Mofussil Unit mentioned in the YNHB advertisement either in person or through post for obtaining application on payment of prescribed cost. Each applicant needs to submit the filled application form before the end of the stipulated deadline for each project. A sum of Rs. 2 Lakhs needs to be submitted along with the application form. The money for the unsuccessful applicants would be refunded by TNHB. The flats are allocated on a first cum first serve basis and a draw of lots in case of larger applicants.
Mode of Payment
In case an individual is allocated an apartment either through draw of lots or on a first cum first serve basis, he would need to pay 10% of the flat cost within 21 days of the allocation order. The remaining 85 % of the cost needs to be paid in EMI is as stipulated by the board. The remaining 5% of the money is to be paid only at the time when the flat is finally handed over to the individual. In case a successful applicant wants to withdraw due to any reason, TNHB will deduct margin money and refund the remaining money to the applicant.
Draw of Lots and Important Terms and Conditions: Before applying for the TNHB flat scheme it is imperative to know that the applicant should not own house / flat / plot either in his name or in his spouse or his children’s name anywhere in Tamil Nadu. Last date for submission of filled applications is specified for each project along with the date of draw of lots. For flats at K.K. Nagar the last date of submission of applications is 9th April 2015.
Chennai Metropolitan Development Authority (CMDA) Housing Plots
If you thought Chennai Metropolitan Development Authority only approved residential layouts and did not offer any real estate projects, think again. The Chennai Metropolitan Development Authority or CMDA also offers housing plots to people belonging to the economically weaker sections of society. Most of the plots offered by CMDA are developed in upcoming areas and suburbs near industrial hubs. Applicants have to pay a non-refundable deposit of Rs. 1,000 at the time of submission of their application to be eligible for CMDA plot scheme. The winners are decided through draw of lots conducted in a transparent manner by CMDA. Although CMDA as of now is offering plots only for people belonging to economically weaker sections, it is likely to come up with projects for lower and middle income groups in the near future.
