The “Loans and Advances for Construction of a House” scheme, implemented by the Manipur Building and Other Construction Workers’ Welfare Board, is a groundbreaking initiative aimed at providing financial assistance to registered construction workers for building their own homes. This scheme ensures that workers from all skill levels—unskilled, semi-skilled, and skilled—can access affordable loans with favorable terms, including a simple interest rate of 5% per annum and a flexible repayment period of 5 years.
Key Highlights of the Scheme
- Loan Amount:
- Unskilled Labourers: ₹1,00,000/-
- Semi-Skilled Labourers: ₹1,50,000/-
- Skilled Labourers: ₹2,00,000/-
- Interest Rate: Simple interest of 5% per annum.
- Repayment Period: 5 years with monthly installments.
- Completion Certificate: Beneficiaries must submit a completion certificate within 6 months of receiving the loan.
This scheme not only addresses the housing needs of construction workers but also promotes dignity and stability for their families by enabling them to own homes.
Who Can Apply?
To be eligible for the Loans and Advances for Construction of a House scheme, applicants must meet the following criteria;
- Registration: Must be registered under the Manipur Building and Other Construction Workers’ Welfare Board.
- Active Labor Card: Should possess an active labor card.
- Surety Bond: Must execute a surety bond as a guarantee for the loan.
How to Apply?
The application process for this scheme can be completed either offline or by downloading the form online. Below are the detailed steps;
Option 1: Offline Application
Step-by-Step Process
- Visit the Labour Board Office: Go to the Manipur Building and Other Construction Workers’ Welfare Board office during working hours. Request a hard copy of the prescribed application form from the designated staff.
- Fill Out the Form: Carefully fill in all mandatory fields in the application form. Attach self-attested copies of all required documents.
- Submit the Application: Submit the duly filled and signed application form along with the documents to the Labour Board Inspector.
- Request Acknowledgment: Obtain a receipt or acknowledgment slip containing essential details such as the date and time of submission and a unique identification number (if applicable).
Option 2: Download Application Form Online
- Download the Form: Visit the official website of the Manipur Building and Other Construction Workers’ Welfare Board and download the application form.
- Fill Out the Form: Complete the application form and attach self-attested copies of all required documents.
- Submit the Application: Submit the completed form and documents to the Labour Board Inspector during office hours.
Important Notes
- The applicant must submit a surety bond to the board.
- A completion certificate must be submitted within 6 months of receiving the loan.
List of Required Documents
- Certificate of Registration: Proof of registration under the Manipur Building and Other Construction Workers’ Welfare Board.
- Payment Receipt of Last Contribution: Recent payment receipt showing contributions to the board.
- Estimate Cost Copy: Detailed cost estimate for house construction.
- Sanction Order Copy: Document granting the loan/advance for house construction.
- Aadhaar Card: Aadhaar card of the applicant and the construction worker.
- First Page of Bank Passbook: Copy of the first page of the bank passbook.
Benefits of the Scheme
- Affordable Housing: Provides financial assistance ranging from ₹1,00,000/- to ₹2,00,000/- based on skill level.
- Low Interest Rate: Simple interest of 5% per annum ensures affordability.
- Flexible Repayment: Loan repayment over 5 years with manageable monthly installments.
- Surety Bond: Ensures accountability and timely completion of the house construction project.
- Completion Certificate: Encourages timely execution of the project, ensuring proper utilization of funds.
Frequently Asked Questions (FAQs)
Q1. What is the maximum loan amount under this scheme?
The maximum loan amount is ₹2,00,000/-, available for skilled labourers.
Q2. What is the interest rate for the loan?
The interest rate is 5% per annum (simple interest).
Q3. Who is eligible for the house construction loan?
Registered construction workers with an active labor card under the Manipur Building and Other Construction Workers’ Welfare Board are eligible.
Q4. What is the repayment period for the loan?
The repayment period is 5 years with monthly installments.
Q5. What happens if I fail to repay the loan on time?
Failure to repay the loan on time may result in penalties or legal action. It is recommended to adhere to the repayment schedule.
Q6. What documents are required for applying?
Required documents include the certificate of registration, payment receipt of last contribution, estimate cost copy, sanction order copy, Aadhaar card, and first page of the bank passbook.
Q7. Is there a penalty for not submitting a completion certificate?
Yes, failure to submit the completion certificate within 6 months may lead to penalties or disqualification from future benefits.
Q8. How is the loan amount decided?
The loan amount is decided based on the applicant’s skill level:
- Unskilled Labour: ₹1,00,000/-
- Semi-Skilled Labour: ₹1,50,000/-
- Skilled Labour: ₹2,00,000/-
Q9. How do I apply for the loan?
You can apply offline by visiting the Labour Board office or by downloading the application form online and submitting it to the Labour Board Inspector.
Q10. What is the purpose of the surety bond?
The surety bond serves as a guarantee that the beneficiary will utilize the loan for the intended purpose and complete the house construction within the stipulated time.
Q11. When does the repayment of the loan start?
Repayment starts immediately after the loan is disbursed, with monthly installments spread over 5 years.
Conclusion
The Loans and Advances for Construction of a House scheme is a commendable effort by the Manipur Building and Other Construction Workers’ Welfare Board to empower construction workers and improve their quality of life. By providing affordable loans with low interest rates, the scheme ensures that workers can build stable homes for themselves and their families.
Sources and References
- Guidelines issued by the Manipur Building and Other Construction Workers’ Welfare Board.
- Application Form PDF – Download
- Official Website of the MBOCW
For further assistance, contact the nearest Labour Board office or visit the official portal.
