CHENNAI: Chief Minister C Joseph Vijay on Thursday ordered the implementation of a one-time settlement scheme offering interest concessions to 6,496 allottees of the Tamil Nadu Housing Board (TNHB) who purchased plots, houses and flats under its instalment schemes but have yet to clear their outstanding dues.
The allottees have completed their instalment periods but are yet to receive sale deeds, as they have not paid the entire amount due. The scheme will cover projects for which the instalment periods ended on or before March 31, 2026.
Those who settle their outstanding dues in a single payment will be eligible for a waiver of penal interest and interest on capitalised interest. They will also receive a waiver of interest on the difference in the final land cost for five months for every year.
The scheme, announced earlier by Housing and Urban Development Minister B Rajkumar during the 2026-27 Budget debate, will be implemented for one year.
The government expects the scheme to generate Rs 92.39 crore in revenue for the board while providing interest concessions worth Rs 18.45 crore to the allottees. It is expected to help them clear their dues and facilitate the issue of sale deeds.
