CHENNAI: The Tamil Nadu Housing Board allottees have much to cheer about for the State government has extended the scheme of waiver of interest and penalty interest on their equated monthly instalments to March 31, 2020. A release from the State Information and Publicity department on Friday said the government on June 15, 2017, in an order waived penalty interest for default in EMI payments, interest on the principal debt and interest calculated for five months on the differential in the final cost of land.
The GO issued in this regard then announced that this concession scheme would be in vogue till August 26, 2018. This scheme was extended by six months, which enabled the allottees to pay the entire outstanding principal without interest whatsoever and get the sale deeds.
When the scheme is set to lapse on February 26, the government has now given one more extension by over one year, the release said, calling upon the allottees, who are yet to avail this scheme, to visit the TNHB offices in their respective areas, pay the outstanding principal without interest mentioned aforesaid and get their sale deeds.