AI SummaryFinancial Assistance for Purchase or Construction of House helps registered construction workers in Uttarakhand by providing a loan of up to ₹50,000 to buy or build a home. You can avail this support at a competitive interest rate of 5% per annum through this government scheme designed for workers in the building sector. The scheme is still open for eligible workers in 2026.
This scheme serves as a dedicated support system for hardworking construction professionals. It is run by the Uttarakhand Building and Other Construction Workers Welfare Board under the Labour Department of the Government of Uttarakhand. The scheme helps you secure your future by offering loans to registered construction workers for purchasing or constructing your own home at a low interest rate.
Financial Assistance for Purchase or Construction of House - Introduction
Buying or building a house is a big step for any worker. Many construction workers find it hard to arrange the full amount needed for a home. This scheme steps in to bridge that gap by giving a loan at a very low interest rate, so the dream of owning a house does not stay out of reach.
Because the loan comes at just 5% per annum, the monthly burden stays light. This makes it easier for a registered worker to repay the amount in regular installments set by the Board. The scheme focuses on genuine construction workers who have been part of the welfare fund for a long time.
Key Information
| Detail | Information |
|---|---|
| Scheme Name | Financial Assistance for Purchase or Construction of House |
| Level | State |
| State | Uttarakhand |
| Category | Housing and Shelter |
| Benefit Type | Loan |
| Loan Amount | Up to ₹50,000 |
| Interest Rate | 5% per annum |
| DBT | No |
| Main Department | Department of Labour |
| Implementing Agency | Uttarakhand Building and Other Construction Workers Welfare Board |
Benefits
When you take part in this scheme, you get support that makes home ownership easier. Here are the main benefits:
- You can receive a loan of up to ₹50,000 to fund the purchase or construction of your house.
- This loan comes with a supportive interest rate of 5% per annum, which keeps the repayment amount low and easy to manage.
- The loan is paid back in equal installments set by the Board, so you know exactly what to plan for.
Eligibility
To apply for this support, you need to meet a few conditions. The Board checks these points before approving any loan:
- You must be a construction worker registered with the Uttarakhand Building and Other Construction Workers Welfare Board.
- You should have been a member of the welfare fund for at least five years.
- You must have at least 15 years of service remaining before reaching superannuation or retirement age.
Application Process
Applying for the loan is a simple process that you can complete through the nearest Shramik Suvidha Kendra. Follow these steps:
STEP 1 - Visit your nearest Shramik Suvidha Kendra to process your online application.
STEP 2 - Make sure you have your Shramik Card, Aadhaar Card, and bank account details ready before you start.
STEP 3 - Submit a handwritten self-declaration certificate confirming that you have not received financial support from any other department for the same house.
STEP 4 - Wait for the department to verify your application and carry out a site investigation.
STEP 5 - Once approved, the loan amount is paid out. You should pay the 5% annual interest as requested.
STEP 6 - Provide proof that the work is finished to the Secretary of the Board within six months of receiving the funds. You will then repay the principal and interest in equal installments set by the Board.
Documents
Keep the following documents ready when you apply. Having them in hand makes the process faster:
- Valid Labour Card
- Aadhaar Card
- Bank account details
- Handwritten self-declaration certificate verifying no other department provided funds for this specific project
References
You can find more information using the links below:
FAQ's
What is the main goal of this scheme?
This scheme supports construction workers by providing affordable loans to help them buy or build their own homes.
How much money can I get as a loan?
You can receive a loan of up to ₹50,000 for your house construction or purchase.
What is the interest rate applied to this loan?
The loan is offered at a favorable interest rate of 5% per annum.
Who is eligible to apply for this support?
Every worker registered with the Uttarakhand Building and Other Construction Workers Welfare Board can apply if they meet the membership and age requirements.
How long must I be a member of the Board to apply?
You should have been a registered member of the Welfare Fund for a minimum of five years.
Are there specific age constraints for this loan?
Yes, you must have at least 15 years left before your official retirement age to qualify.
Where should I submit my application?
You should submit your application online through the nearest Shramik Suvidha Kendra.
How do I repay the loan amount?
You will repay the sanctioned loan through equal installments, which the Board will determine for you.